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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: riversides who wrote (110015)	3/28/2010 2:05:26 PM
From: Broken_Clock	1 Recommendation Read Replies (1) of 116555

SATURDAY, MARCH 27, 2010 Every silver lining has a little tarnish Sure, you're probably disappointed in the health insurance bill. But you're not the only one: Even the insurance industry is unhappy. Although the federal government will be requiring Americans to buy their products -- and providing subsidies worth billions -- insurers don't think the penalties are high enough. Really puts our petty complaints into perspective, doesn't it? AND: In case you're wondering: Those who continue to go without coverage will have to pay a penalty to the IRS, except in cases of financial hardship. Fines vary by income and family size. For example, a single person making $45,000 would pay an extra $1,125 in taxes when the penalty is fully phased in, in 2016. That's 2.5% of this hypothetical single person's salary. For comparison purposes, UnitedHealth Group had 2009 revenues of $87 billion, so a corresponding penalty of 2.5% for its numerous misdeeds would be roughly $2.2 billion. Which isn't high enough either, wouldn't you say? So you can see their point. Posted by John Caruso at 10:27 AM \| Permalink \| Comments (4) distantocean.com

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