By Michael Strain – The fine for not buying health insurance under ObamaCare is quite small — the greater of $695 per year or roughly 2.5 percent of income for a single person. Put more simply, the fine is much less than the cost of an insurance policy for the overwhelming majority of Americans. But many of the law’s supporters have been very optimistic that a large number of the currently uninsured will comply with the mandate and purchase insurance.
Given the small penalties, will people comply with the individual mandate?
The Supreme Court explicitly states (pdf) that noncompliance with the mandate is lawful. This changes the psychology completely. People’s desire to obey the law will allow them to choose the cheaper option and pay the tax. more> http://tinyurl.com/87l2n6u
- Ira Stoll on Why ObamaCare Is, in Fact, the Largest Tax Increase in History (reason.com)
- BREAKING: Supreme Court Upholds ObamaCare’s Individual Mandate as a Tax (reason.com)
- ObamaCare IRS Agents the ‘New Gestapo’ (familysurvivalprotocol.com)