Obamacare - Sign up or you'll be taxed!!!

LadyEagle · Aug 8, 2009

PART 1--INDIVIDUAL RESPONSIBILITY

SEC. 401. TAX ON INDIVIDUALS WITHOUT ACCEPTABLE HEALTH CARE COVERAGE.

(a) In General- Subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new part:

`PART VIII--HEALTH CARE RELATED TAXES

`subpart a. tax on individuals without acceptable health care coverage.

`Subpart A--Tax on Individuals Without Acceptable Health Care Coverage

`Sec. 59B. Tax on individuals without acceptable health care coverage.

`SEC. 59B. TAX ON INDIVIDUALS WITHOUT ACCEPTABLE HEALTH CARE COVERAGE.

`(a) Tax Imposed- In the case of any individual who does not meet the requirements of subsection (d) at any time during the taxable year, there is hereby imposed a tax equal to 2.5 percent of the excess of--

`(1) the taxpayer's modified adjusted gross income for the taxable year, over

`(2) the amount of gross income specified in section 6012(a)(1) with respect to the taxpayer.

`(b) Limitations-

`(1) TAX LIMITED TO AVERAGE PREMIUM-

`(A) IN GENERAL- The tax imposed under subsection (a) with respect to any taxpayer for any taxable year shall not exceed the applicable national average premium for such taxable year.

`(B) APPLICABLE NATIONAL AVERAGE PREMIUM-

`(i) IN GENERAL- For purposes of subparagraph (A), the `applicable national average premium' means, with respect to any taxable year, the average premium (as determined by the Secretary, in coordination with the Health Choices Commissioner) for self-only coverage under a basic plan which is offered in a Health Insurance Exchange for the calendar year in which such taxable year begins.

`(ii) FAILURE TO PROVIDE COVERAGE FOR MORE THAN ONE INDIVIDUAL- In the case of any taxpayer who fails to meet the requirements of subsection (e) with respect to more than one individual during the taxable year, clause (i) shall be applied by substituting `family coverage' for `self-only coverage'.

`(2) PRORATION FOR PART YEAR FAILURES- The tax imposed under subsection (a) with respect to any taxpayer for any taxable year shall not exceed the amount which bears the same ratio to the amount of tax so imposed (determined without regard to this paragraph and after application of paragraph (1)) as--

`(A) the aggregate periods during such taxable year for which such individual failed to meet the requirements of subsection (d), bears to

`(B) the entire taxable year.

`(c) Exceptions-

`(1) DEPENDENTS- Subsection (a) shall not apply to any individual for any taxable year if a deduction is allowable under section 151 with respect to such individual to another taxpayer for any taxable year beginning in the same calendar year as such taxable year.

`(2) NONRESIDENT ALIENS- Subsection (a) shall not apply to any individual who is a nonresident alien.

`(3) INDIVIDUALS RESIDING OUTSIDE UNITED STATES- Any qualified individual (as defined in section 911(d)) (and any qualifying child residing with such individual) shall be treated for purposes of this section as covered by acceptable coverage during the period described in subparagraph (A) or (B) of section 911(d)(1), whichever is applicable.

`(4) INDIVIDUALS RESIDING IN POSSESSIONS OF THE UNITED STATES- Any individual who is a bona fide resident of any possession of the United States (as determined under section 937(a)) for any taxable year (and any qualifying child residing with such individual) shall be treated for purposes of this section as covered by acceptable coverage during such taxable year.
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http://thomas.loc.gov/cgi-bin/query/z?c111:H.R.3200.IH:

Are you angry yet?

tinytim · Aug 8, 2009

Nope not yet... I have to call my Republican source and find out what fake emotion I am supposed to use to respond to this fact, because according to the demoncrats (Yes I spelled it intentionally because only demons would support abortion and gay rights)... we that don't like socialized medicine are fakers, terrorists, extremists..

So let me get back as soon as the RNC tells me how to respond.

Obamacare - Sign up or you'll be taxed!!!

LadyEagle <b>Moderator</b> <img src =/israel.gif>

tinytim <img src =/tim2.jpg>