Friday, July 06, 2012

Mandate Debate: Penalty, Tax or Fee Matters Not

I've been saying this for weeks. But you know the media loves to get sidetracked with stupid crap.
Amid all the sniping in the Land of Make-Believe, it’s easy to forget that in the real world, it doesn’t matter. Whatever you call it, there’s zero difference between a tax, a penalty, a fine, or a fee. The Supreme Court ruling changed nothing about the mandate. The cost of flouting it is exactly the same as it was before the decision: $695 per person, or 2.5 percent of income. The number of people who will forgo insurance—an estimated three million—hasn’t changed either. Neither has the task of administering the mandate. That woeful job falls onto the shoulders of the IRS. Businessweek