The Audacity of Congress
The terms “tax” or “taxes” is mentioned 92 times in H.R. 3200 – the healthcare so-called reform bill that is currently before Congress. Why? Why mention the IRS in a healthcare bill? Well, for one thing, the bill says you will be taxed 2.5% of AGI (that’s the last number on the front page of your Form 1040) for not having government-approved coverage. That could be a significant amount for many people. For someone with AGI of $50,000, the tax would be $1,250.