Showing posts with label Economics. Show all posts
Showing posts with label Economics. Show all posts

Wednesday, June 27, 2012

I think America's Scared to have a Man-Date

Holy shit. Lawrence O'Donnell was really right about something. Based on his background, it should come as no surprise that Lawrence does actually seem to be fairly competent with the USC. Perhaps I simply missed the conversation about what the individual mandate actually is, but when I finally looked it up to verify, I was shocked.





There is no such thing as the individual mandate. Wow. Lawrence is absolutely correct.

According to 26 USC § 5000A(g)(2)(A):
(A) Waiver of criminal penalties
In the case of any failure by a taxpayer to timely pay any penalty imposed by this section, such taxpayer shall not be subject to any criminal prosecution or penalty with respect to such failure.
Under this section of the IRS code, you cannot be thrown in jail for not having health insurance. It is that simple. Well simple is not the right word as the Patient Protection and Affordable Care Act is 906 pages long, and even by legal standards is fairly complex. But not going to jail over failure to pay the mandate tax, maybe someone in the Obama Administration should have explained this point, repeatedly.

26 USC § 5000A(g)(2)(B)(i)-(ii):
(B) Limitations on liens and levies
The Secretary shall not—
(i) file notice of lien with respect to any property of a taxpayer by reason of any failure to pay the penalty imposed by this section, or
(ii) levy on any such property with respect to such failure.
The IRS cannot file a lien or place a levy on a person for failing to pay the penalty created by the individual mandate.  So if Person A doesn't have health insurance, they will be slapped with an approximate $100 tax (fine); however the government cannot put Person A in jail, secure a lien, or place a levy.  Essentially as the law is written, there is no way for the government to get the money.  Therefore, if the individual mandate is the only section of the Patient Protection and Affordable Care Act to be struck down, it would seem consequence free for the Obama Administration. Yes that's right, the mean over-intrusive federal government is going to force you to have health insurance by doing nothing to force you to have health insurance.

Ass-hats.

I think the Obama Administration should  find an attorney and a cartoonist and have them come up with simple explanations for controversial laws, instead of having people just tune into Fox News where they hear stupid shit like death panels.


Liam '12

Freedom Just For Me

Thursday, June 21, 2012

Job Creators My Ass...

The Wealthy don't create jobs. Supply and Demand does.

Facts:

1. Wealthy people are not inherently wealthy; they do not create wealth.  Money is given to them in exchange for goods and services.

2. A business will not hire additional Labor, unless Demand expands and more Labor is required to match the output necessary to supply the increase in Demand.

3. Prior to approaching the scarcity of raw goods, Supply is able to rise quicker than Demand due to the Economy of Scale, thus minimizing the role of inflation.

4. Tax reduction does not raise simple Demand, since businesses will not hire additional Labor without an increase in Demand.

5. Shifting the tax burden downwards towards the lower classes lowers simple Demand.

6. Lowered Demand causes a relative over-production of Supply.

7. Over-production of Supply requires a correction in Supply, often requiring decrease in Labor.


Here's the world's sexiest tramp stamp:

Tramp Stamp, Demand Curve,Supply and Demand,


Hot.


Liam '12

Freedom Just For Me