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Thread: "Journalist" gets corrected about "The Dumbest thing I've heard about ObamaCare" LOL

  1. #1

    "Journalist" gets corrected about "The Dumbest thing I've heard about ObamaCare" LOL

    Editor's note: This article was based on a miscalculation, in which an annual fine was identified as a monthly fine.

    The author and TheStreet regret this error. The author has reworked the story to address all the items in question.

    I'm not going to entrench myself in a political battle, arguments for which rarely make any logical sense anyway. Most just pick a side and constantly blab away about things they have little working knowledge of.

    Regardless of one's political stance -- Democrat, Republican, neither or somewhere in the middle -- it makes zero sense to pay the fine rather than to sign up for coverage. From the article:

    "The penalty in 2014 for remaining uninsured is $95 per adult and $47.50 per child or 1% of taxable income (up to $285 for a family), whichever is greater."

    "According to the nearly 4,000 interviews conducted with uninsured Americans since September, more than one quarter (26%) under the age of 30 say they are more likely to pay the fine, compared with 30% of those aged 30 and older."

    Edit: A married couple with one child can plan to pay $237.50 per year, assuming their taxable income doesn't warrant a steeper penalty. The refusal to pay will amount to a maximum of $712.50 while still not providing any coverage. That's not too bad for year one.

    Original: "A married couple with one child can plan to pay $237.50 per month, assuming their taxable income doesn't warrant a steeper penalty. On an annualized basis, this refusal to pay will amount to $2,850, while still not providing any coverage.

    Comment from the site:

    Contrarian 11 hours ago −
    "The Dumbest Article I've Read About Obamacare"

    For a financial writer your math is sure off. The penalty is ANNUAL, not MONTHLY. So your entire argument about the penalties' cost is off by a factor of 12. Not to mention the fact, you ignore the fact that the penalty can only be collected via garnishing tax refunds. So objectors who decrease their withholding can effectively pay little or no penatly.
    "let them search you,touch you,violate your Rights,just don't be a dick!"~ cdc482
    "For Wales. Why Richard, it profits a man nothing to give his soul for the whole world. But for Wales?"
    All my life I've been at the mercy of men just following orders... Never again!~Erik Lehnsherr
    There's nothing wrong with stopping people randomly, especially near bars, restaurants etc.~Velho

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  3. #2
    Ouch... what a massive blunder. Funny, yet I feel bad for him.

    Though he doesn't really self-describe as a journalist:

    Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.
    "We do have some differences and our approaches will be different, but that makes him his own person. I mean why should he [Rand] be a clone and do everything and think just exactly as I have. I think it's an opportunity to be independent minded. We are about 99% [the same on issues]." Ron Paul

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