Saturday, September 14, 2013

Don't Buy Health Insurance, Don't Pay The Fine, Do Enjoy Yourself

I found this little gem earlier:

The law prohibits the IRS from using liens or levies to collect any payment you owe related to the individual responsibility provision, if you, your spouse or a dependent included on your tax return does not have minimum essential coverage. However, if you owe a shared responsibility payment, the IRS may offset that liability against any tax refund you may be due.

What this means is that if you give .gov the one-fingered salute over this health insurance nonsense, like I am, then they fine you. The "shared responsibility payment" is what they call it. (That's their cute little socialist way of saying "hey, young people: pay way too much money for health insurance now and put however much of your life on hold so Boomers who have already had their fun will have things easier").

But here's the thing: the IRS can only withhold the penalty from a tax return payment owed to you. They cannot send you a bill for it, put a lien on your income and assets, etc.

What's my source for the above info?

The IRS itself: http://www.irs.gov/uac/Questions-and-Answers-on-the-Individual-Shared-Responsibility-Provision

The snippet I quoted above is at the very bottom of the page (of course).

So here's all you have to do:

If you are an hourly/salaried individual and you receive a W-2 form, get busy adjusting your withholding to bring yourself as close to break-even as possible (in terms of owing more in taxes vs. receiving a return), or such that you'll owe some.

If you are self-employed, you can pretty much control all of this.

Then, just don't pay the stupid fine! They'll no doubt keep it on their books for years, until the statists give the IRS the power to collect it, or the ACA is repealed and all of these bullshit fines are eliminated/forgiven. One or the other will happen, or over time maybe both. I say: take the chance. If you don't give in to their extortion and this nightmare is brought to an end, you win. If you hand over your money out of fear of what they might eventually do and then they are defeated, then you just lose. There will be no restitution of stolen money once the law is repealed; everything taken from you will just be "considered even."

Screw them and their system. If you're young, all you're going to get is your dreams put on hold because people one or two generations older than you were too stupid and/or irresponsible to prepare for their later years. They had their fun, and now they expect you to wait to have yours while they continue to have their own. By the time they're finally dead, you'll have missed out on years of your own happiness, and your "reward" for "paying in" will be to receive far, far less than those who came before you (if there's anything left at all - the numbers are not good). Your only hope is to enjoy yourself now, keep as much of what's yours away from this black hole, and do your part to crash and burn what they've created and forced on you.

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