October 3, 2012 | Back to: News

Revenooer Rants | Pastors' plan: defy revenooers

INCLINE VILLAGE, Nev. - It's about time somebody stood up to 'em. Let's hear it for the 1,000 or more pastors planning to stage "Pulpit Freedom Sunday," this coming weekend.

The idea is to attempt to force the courts - maybe even the Supremes - to decide whether the Internal Revenue Code prohibition against tax exempt organizations speaking on political issues is constitutional.

"The purpose is to make sure the pastor - and not the IRS - decides what is said from the pulpit," quoth Erik Stanley, senior legal counsel for the pastors. "It is a head on constitutional challenge."

And from our "What was that promise again?" department comes word via The Washington Examiner, that some think current Federal regulations, when combined with those coming (especially if Obama gets re-elected) will cost American taxpayers and their businesses something like $1.8 trillion, each year! And this, more than 20 times the $88 billion suggested by the administration!

"While OMB officially reports amounts of only up to $88.6 billion in 2010 dollars," says Clyde Wayne Crews, a Competitive Enterprise Institute veep, "the non-tax cost of government intervention in the economy ... appears to total up to $1.806 trillion annually."

And while we're on the subject of how much more we and thee can expect to pay for all of the latest government goodies, check out this latest downer from the Congressional Budget Office: nearly six million Americans - a whole lot more than first estimated - will face a tax penalty imposed by the Obama health care law, because they will not buy insurance.

Call it a tax, or call it a penalty, the bottom line is that government coffers will likely rake in a whole lot more dough than they previously told us ... but we digress.

And if this isn't bad enough, the CBO thinks that nearly 80 percent of those who will incur the penalty will be making up to or less than five times the federal poverty level. Currently, the Associated Press reports, that would equate to $55,850 or less for an individual, and $115,250 or less for a family of four.

"The bad news and broken promises from Obamacare just keep piling up," notes Representative Dave Camp (R-Mich), Chairman of the House Ways and Means Committee.

"This (analysis) doesn't change the basic fact that the individual responsibility policy will only affect people who can afford health care but choose not to buy it," pontificates Erin Shields Britt of the Health and Human Services Department. "We're no longer going to subsidize the care of those who can afford to buy insurance but make a choice not to buy it.

So there! Take it or leave it!!

- CONSULT YOUR TAX ADVISOR - This article contains general information regarding various tax matters. You should consult your CPA regarding the implications to your own particular situation. Jeff Quinn, the author of this article, is a shareholder in Ashley Quinn, CPAs and Consultants, Ltd., with offices in Incline Village and Reno. He can be reached at 831-7288, welcomes comments at jquinn@ashleyquinncpas.com, and invites readers to consider his other commentary at http://blog.nolo.com/taxes.

Jeff Quinn
Special to the Bonanza


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Tahoe Daily Tribune Updated Oct 3, 2012 07:25PM Published Oct 3, 2012 07:24PM Copyright 2012 Tahoe Daily Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.