Skip to comments.Colorado bill would use tax credits to offset ObamaCare penalty
Posted on 12/19/2013 8:55:14 AM PST by gooblah
Two Republican lawmakers in Colorado plan to introduce a proposal that would make it easier for residents to opt out of ObamaCare by creating a tax deduction to offset the federal penalty for not purchasing health insurance.
(Excerpt) Read more at foxnews.com ...
Quit creating more bureauracy to work with Obamacare.
Just work harder to repeal the entire thing.
Wow, that stings Obamacare Dems.
An interesting idea!
As interesting as this is at first glance, I don’t like it one bit. It would be a direct transfer of resources from the state government to the Feds. Not good.
This is an un-Holy compromise with the Evil that is ObamaCare, effectively making it easier to keep ObamaCare vs. getting rid of this obamonation!
I don’t like this either. It’s the same amount of money out of my pocket, but it goes to the king, not to the governor.
The government has *absolutely no business* requiring citizens to purchase health insurance. This is an egregious offense against the Constitution that must be rectified on a national scale by whatever means necessary, up to and including including force. I would not encourage any state to undertake an accommodation of this sort even though I might benefit in the short term.
There’s a world of difference between a tax credit (per the article title) and a tax deduction (per the article itself). It’s sloppy editing which doesn’t catch that in a news article.
Per http://insurancenewsnet.com/oarticle/2013/12/18/reps-nordberg-and-wright-to-introduce-colorado-healthcare-liberty-act-a-438589.html#.UrOV87RDLEg, the Republicans in Colorado are proposing a Colorado tax deduction of the penalty.
What does that mean for a Colorado tax payer? The penalty for 2014 is the greater of $95 per adult or 1% of household income. Assume household income is $50,000, the penalty would be $500. Colorado taxes income at a flat 4.63%. So you would save $23.15 on your Colorado taxes. Instead of being out $500, you would only be out $476.85. Big whoop.