Category Archives: IRS

Senate Tax Bill Kills Health Insurance Individual Mandate

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The Senate tax bill ends the mandate to buy health insurance. This is a bad thing? It is according to a CNN Money article:

Poor Americans would lose billions of dollars worth of federal benefits under the Senate GOP tax bill, according to a new Congressional Budget Office report.

This is largely because the legislation would eliminate the individual mandate, which requires nearly all Americans to get health insurance or pay a penalty. This would result in 13 million fewer people having coverage in 2027, the CBO found.

Many of the folks who would forgo coverage would have lower or moderate incomes and would have qualified for Medicaid or federal help paying their premiums or out-of-pocket health expenses, CBO found.

If it’s a good deal why do people need to be forced to buy it? Do they think we’re stupid?

Oh.

Trump Income Tax Short Form

trump income tax

Two pages of the 2005 Donald Trump income tax return fell in to the hands of Rachel Maddow last week. On her show she played it for all it was worth. It turns out it was worth about $38 million to Uncle Sam in taxes paid on an income of $150 million. That’s an effective rate of  about 25%. The revelation made The Donald look good compared to accusations that he doesn’t pay any income taxes at all.

It also made him look good compared to Barack Obama’s 2015 effective rate of 18.5%, Bernie Sanders 2014 effective rate of 13.5%, and Mitt Romney’s 2011 rate of 14.1%

Even Van Jones called it a good night for Donald Trump.

The purloined returns showed up in the mailbox of journalist David Cay Johnston. He says he knows nothing. Revealing private income tax information is a felony.

Trump denies that he had anything to do with it.

Government Email Hackers

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Or should I say “hacks”? A federal judge on Friday reopened a lawsuit to force Hillary to turn over more government email from her secret stash. Two weeks ago 6,400 missing emails turned up from Lois Lerner’s crashed computer at IRS.

Tax Hacks

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The IRS is underpaid and overworked. So says Commissioner John Koskinen. Maybe that’s why some employees are fast and loose with your personal tax information.

Bystander President

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Reagan was the Teflon president. He had an easy charm and nothing bad seemed to stick. Obama is the bystander president. He reads about bad things that happen on his watch as if they had nothing to do with him. He’s just like you and me, sitting at the bar madder’n hell. Except he gets to go on TV and complain. At least I get to draw a cartoon.