Viral Facebook post about Obamacare nonsensical and flat-out wrong

[Destroyer2]

I'm talking about the one made by Will Sheehan. This one:

I actually made it through this morning at 8:00 A.M. I have a preexisting condition (Type 1 Diabetes) and my income base was 45K-55K annually I chose tier 2 ‘Silver Plan’ and my monthly premiums came out to $597.00 with $13,988 yearly deductible!!! There is NO POSSIBLE way that I can afford this so I ‘opt-out’ and chose to continue along with no insurance. I received an email tonight at 5:00 P.M. informing me that my fine would be $4,037 and could be attached to my yearly income tax return. Then you make it to the ‘REPERCUSSIONS PORTION’ for ‘non-payment’ of yearly fine. First, your drivers license will be suspended until paid, and if you go 24 consecutive months with ‘Non-Payment’ and you happen to be a home owner, you will have a federal tax lien placed on your home. You can agree to give your bank information so that they can easy ‘Automatically withdraw’ your ‘penalties’ weekly, bi-weekly or monthly! This by no means is ‘Free’ or even ‘Affordable’.

Incorrect statements by code:

Bold: You can't complete the application and then choose to opt out. You CAN, however, not enroll in a plan or just close the website.

Italics: The system doesn't send emails if you fail to complete an application. The fines are calculated as part of the overall income tax form 1040. Lastly, any taxes would be owed by 4/15/15; why would the IRS assess a tax penalty a year and a half early when there is plenty of time to find another insurance plan and avoid the penalty?

Underlined: This number is just completely ridiculous. The penalty fee in 2014 is 1% of your yearly income (minimum $95). As you all probably know, it increases every year. In 2016, that's 2.5% (minimum $695). If his income base was 45K-55K and he has no dependents, he wouldn't have to pay any more than $550 by 2015. To pay a penalty of $4,037 in 2014, he'd have to have an income of more than $403,700, a far cry from what he claims to be making.

Bold + Italics: Completely false, nowhere in the law does it say the government can take away your driver's license. Besides, licenses are administered by state governments, not the federal government.

Bold + Underlined: The ACA actually specifically bars the IRS from doing that. To quote:

[the government] shall not (i) file notice of lien with respect to any property of a taxpayer by reason of any failure to pay the penalty imposed by this section, or (ii) levy on any such property with respect to such failure.

All they can do is subtract it from tax refunds that you qualify for. If you aren't due for a refund, all they can do is send you a letter. It also says:

In the case of any failure by a taxpayer to timely pay any penalty (…) such taxpayer shall not be subject to any criminal prosecution or penalty.

So none of that either.

Italics and Underlined: You shouldn't be handing out banking info over the 'net. Nuff said.

So yeah, it's just flat-out wrong in so many respects.

(Source: Politifact, I can't link because I don't have enough posts)