Sunday, July 8, 2012

And who said that President Obama isn't creating jobs?

The IRS is expected to spend $881 million on the law from 2010 through 2013, hiring more than 2,700 new workers and upgrading its computer systems. But the IRS has not made public information about its spending plans in the following years, when the bulk of the health care law takes effect.
The full story is HERE.

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1 comment:

Lionhead said...

Great link Bosman; the hearings by Rep. Dave Camp, R-Mich., should be most interesting to see how the implementation will be done. Here's a point all should be aware of from the article:

"So how can the IRS enforce the mandate? Scary letters and threats to withhold tax refunds.
The law allows the IRS to withhold tax refunds to collect the penalty, and most filers get refunds."

Answer: by using an ad valorem tax on assets of the taxpayer. Taxing the value of your house, your car, your boat, your livestock, your business, your intellectual property. The Supreme Court has opened the doors to the "Long Tax" saloon in Washington, DC. Come on in, pull up chair and have a "tax of the day."