When is a Tax not a Tax?

When Congress required most Americans to obtain health insurance or pay a penalty, Democrats denied that they were creating a new tax. But in court, the Obama administration and its allies now defend the requirement as an exercise of the government’s “power to lay and collect taxes.”

Administration officials say the tax argument is a linchpin of their legal case in defense of the health care overhaul and its individual mandate, now being challenged in court by more than 20 states and several private organizations.

Other Insurance News

40l(k)/IRA Nationalization Quietly Moves Forward

“The U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams, according to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry, who are spearheading the effort.”

They want to “get” people to invest their 401k’s and IRA’s into annuities, or likely into U.S. T-Bonds, which are in the biggest overvalued bubble the world has ever seen.

he March 9 edition of Business Week notes that new federal regulations designed to “promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams” would help drive cash into government-controlled entities such as American International Group (AIG), which was bailed out to the tune of $182.3 billion.

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