re: #442 Walter L. Newton

This is one of my favorite sections of the proposal (which is not a bill, which shouldn’t be discussed since it’s not a bill, but it will be a bill if we don’t talk about it).

‘‘SEC. 59B. TAX ON INDIVIDUALS WITHOUT ACCEPTABLE
19 HEALTH CARE COVERAGE.
20 ‘‘(a) TAX IMPOSED.—In the case of any individual
21 who does not meet the requirements of subsection (d) at
22 any time during the taxable year, there is hereby imposed
23 a tax equal to 2.5 percent of the excess of—
1 ‘‘(1) the taxpayer’s modified adjusted gross in
2 come for the taxable year, over
3 ‘‘(2) the amount of gross income specified in
4 section 6012(a)(1) with respect to the taxpayer.

Don’t you love it. And guess what. If this shows up in the final bill, it will be an automatic amendment to the IRS tax code.

Great Walter, but this isn’t the final bill, didn’t you know? Wait until it’s passed and then we can discuss whether this is a good or bad thing. Sheesh.