Indisposed

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The Bureau of Economic Analysis web- site defines “disposable income” as “total personal income minus personal current taxes.” As of this writing, both the Senate and the House versions of healthcare reform include the “individual mandate,” which will almost certainly be included in the bill signed by the president. The Bureau will then have to change its definition of “disposable income” to “total personal income minus: (1) personal current taxes and (2) federally mandated health insurance premiums paid to private, for-profit corporations.” And should the federal government impose more unfunded mandates on the after-tax income of private citizens, the Bureau of Economic Analysis can look to this journal for a timely heads-up.

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