Wednesday, February 04, 2015

Taxes, Shmaxes

Thanks to Moe Lane, we have this little gem:

"Consumers who received too much in federal tax credits ... got a reprieve of sorts from the Internal Revenue Service this week. Although they still have to repay ... excess subsidies, the IRS won’t ding them with a late payment penalty if they don’t repay it by the April 15 tax deadline."

Which is nice for them, but creates a problem:

"The Equal Protection Clause of the 14th amendment of the U.S. Constitution prohibits states from denying any person within its jurisdiction the equal protection of the laws."

So what's the problem?

Well, suppose you owe taxes on something (other than the subsidy clawback), and fail to pay on time: you're still subject to fines and interest. But for the special snowflakes that "miscalculated" their subsidies, well, no worries, mate.

Of course, it's not really a problem at all, at least according to the Obamastration:

"White House Press Secretary Josh Earnest described reports that millions of Americans would be getting tax bill because of Obamacare as "inaccurate" just days after the Treasury Department estimated that 6 million Americans will pay about $2 billion in individual mandate taxes this year."

Left hand meet right hand.

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