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Authored by: Wol on Saturday, June 30 2012 @ 06:58 PM EDT |
Simple. He's saying "what if you make health insurance 100% deductible from
your tax bill?".
So if your tax bill should be $1000, and you pay $200 in insurance, your tax is
reduced to $800.
Cheers,
Wol[ Reply to This | Parent | # ]
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Authored by: Anonymous on Monday, July 02 2012 @ 02:46 PM EDT |
In 2007, Massachusetts's individual mandate's effect was to only give you a
personal exemption if you had health insurance or a valid excuse (MA 2007 Form
1, Schedule HC, lines 7a and 7b). It's not a good mechanism, and hasn't been
used in later years, but it is an example of arranging a mandate such that you
get a tax reduction for following it rather than an increase for ignoring it. I
suspect there was some legal wrangling that made it a more legally reliable
mechanism for the period when the law was being adopted, but I haven't looked at
the law, just the tax forms.
(Not the OP, but a MA taxpayer in 2007)[ Reply to This | Parent | # ]
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