No Cheating Folks!

Mickey Kaus does the math and determines that ObamaCare will encourage - ahem - understatement of income.

The Obamacare cheating bonus–$5,328, in the above example–dwarfs either of those incentives, and almost doubles the payoff for understating your income. Save on income taxes and FICA and get near-free health insurance too!

Of course, it’s mainly the self-employed who are able to fudge their incomes–no annoying w-2 forms, lots of loosely characterizable deductions. Don’t expect to see a lot of freelancers with $46,000 incomes next year.

Loosely characterizable deductions?  What are those?