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by auntieracist
Sunday, Sep. 22, 2013 at 5:47 AM
auntieracist@yahoo.com
the devil is in the details
The short version is that they only way the federales can collect a fine for not having health insurance is to take it out of your income tax refund. So if you set your payroll withholding tax to zero you won.t get a refund and you won't have to pay the fine. Of course if millions of people stop their payroll withholdings, the government will lose out on billions of dollars in interest free short term loans to use as operating money. Details here: http://www.forbes.com/sites/theapothecary/2013/08/28/white-house-publishes-final-regulations-for-obamacares-individual-mandate-seven-things-you-need-to-know/
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by nobody
Monday, Sep. 23, 2013 at 1:31 AM
Yeah... except you then owe taxes at the end of the year.
You owe not only what you owe, but the health insurance penalty on top of that.
And you also won't have health insurance.
This campaign to get young people to not sign up for insurance is totally stupid. I mean, there's been some stupid ideas out there coming from the anti-Obamacare side, but this one really takes the prize.
Editorials on Forbes are totally discrediting the magazine. It used to be a reliable source of information for greedy exploiters. Now it's just lunatics and people who worship Ayn Rand.
Look, there are only three possible options for healthcare for people who aren't wealthy: no insurance, Medicaid, and private insurance.
If you're poor, you get Medicaid. Problem solved.
If you're not poor, you should buy private insurance. There might be some kinds of public or quasi-public options eventually, like going with whatever County is offering, but by and large, it's private.
If you're not poor and don't get insurance, you're going to be seeing some crazy bills. Price inflation hasn't yet been addressed, and the current trend is to push the high prices onto the uninsured.
Don't listen to the liars at Forbes. Most wealthy and upper middle class people LOVE insurance. If a rich person or wannabe rich person ever tells you not to buy insurance, they're lying. Listen to what they say to each other: buy long term care insurance, buy insurance on investments (indeed- buy investments that can be insured, like real estate or diamonds, because that mitigates risk), and buy insurance on your house. They also have a list of different life insurances that you can somehow turn into investments. Seriously. I don't understand those products, but they do exist. I just don't feel comfortable putting 100k into these odd things I don't understand.
They are all into buying insurance that, honestly, it seems like it would be hard to collect on. Long term care insurance? That seems like a huge money-losing business. Can they actually predict who will need long term care, and how much?
But I digress. The big fact is, if someone has the money, they will buy insurance. Insurance is kind of like the ultra-capitalist's version of socialism -- it's a kind of mutually funded safety net that's not only private, but entirely monetary. If your house burns down, you don't get a new house - you get money. If your car is crashed, you don't get a car, you get money. (Real socialism is a safety net that's public and focused on services and resources, not money.)
Now the same people are telling young people not to buy insurance.
What a farce.
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