Each Shall die for his own sin

Parents are not to be put to death for their children, nor children put to death for their parents; each will die for their own sin. -Deuteronomy 24:16

The idea that Christ died as if He commited our sin violates the Biblical teaching that each man be put to death for his OWN sins.  This verse, however, seems to only apply to adults, since young children in the Bible are put to death, or killed, because of their parents sins, as in the case of David's son, or the nations God commanded the Israelites to destroys.  Regardless, Christ could not have been put to death for the sins of others (at least justly!). Rather, Christ willingly laid down His own life for the sake of others, not that He should die as their substitute, but that by His righteous death, God would show mercy to mankind, thus allowing man forgiveness on the condition they repent of their sins.  After all, Christ did make several warning statements that certain sins would cause the soul to go to Hell forever, as we see in Matthew 5 with sexual sins, Matthew 6 with withholding forgiving your brother's sins and so on.

On another point, Deuteronomy 24:16 is a verse anti/counter-Missionary Jews use against Christians.  Their claim is legitimate, but only against baptistic and Calvinistic types of Christians that espouse this particular view of the atonement that says "Christ died in our place" or "He took the wrath of God in our place" and so on.  Rather, the Biblical Christ was a propitiation for the sins of the world, meaning His death provided MERCY for mankind. 

I have already written before that the idea of a penal substitution when logically followed out is a denial of Trinitarianism, or can be an affirmation of a sort of Arianism (since God cannot be forsaken by God), or some form of theology where Christ as a man and Christ as God are divorced (undoing the incarnation).

Calvinists try to prove a penaly substitution with verses like 2 Corinthians 5:21, or Isaiah 53 and so on.  When the fact is 2 Corinthians 5:21 by saying Christ "became sin for us" is an expression St Paul was using for a sin offering, and Isaiah 53 doesn't mean God treated Christ as if He had our sins, in fact Matthew 8:17 interprets this part of Isaiah as Jesus healing the sick and casting out demons:

When it was evening, they brought him many who were possessed by demons, and he drove out the spirits by a word and cured all the sick, to fulfill what had been said by Isaiah the prophet: “He took away our infirmities and bore our diseases.”--Matthew 8:16-17

One more reason I am not a Calvinist or an OSASer

The Scripture reads

There were also false prophets among the people, just as there will be false teachers among you, who will introduce destructive heresies and even deny the Master who ransomed them, bringing swift destruction on themselves.-2 Peter 2:1

Notice it clearly says the Lord "bought" or "ransomed" the false teachers who are going to Hell, thus not everyone Jesus died for will go to Heaven no matter what.

Here is the link to a Calvinist's response

It's really long winded and repetitive, scroll down to the last paragraph to get his answer to the text. Dr McMahon sums it up with the following: 

So to summarize the point here: false teachers are “saying” they are Christians, and “saying” they have been bought, but in fact are not bought at all. “Denying the sovereign Lord who bought them” is what they are saying about their lifestyle, though it is not true from the rest of the immediate context of the passage. The word “bought” means they are either saved (which we know false teachers are not saved so that cannot be the meaning of the passage) or they are “saying” they “they believe themselves to be saved” and ultimately are self-deceived. But it cannot mean that Christ bought them with His blood, and they reject that “offer” to eternal life.

Essentially, what he does is change the text from

But false prophets also arose among the people, just as there will be false teachers among you, who will secretly bring in destructive heresies, even denying the Master who bought them, bringing upon themselves swift destruction.

to

But false prophets also arose among the people, just as there will be false teachers among you, who will secretly bring in destructive heresies, even denying the Master who THEY FALSELY CLAIMED bought them, bringing upon themselves swift destruction.

This seems to be the only theologically feasible answer to this text from his theological bias, in other words he knows it's not possible to lose salvation and he knows that Christ only died for the elect, therefore he knows the text cannot deny those two things since he knows his Reformed interpretation of Scripture is true.

Most Calvinists believe all those bought/ "paid for" by Christ are saved and will go to heaven no matter what.  This is negated by 2 Peter 2:1.

But false prophets also arose among the people, just as there will be false teachers among you, who will secretly bring in destructive heresies, even denying the Master who bought them, bringing upon themselves swift destruction.-(2 Peter 2:1 ESV)

We see the Holy Scriptures telling us some people were bought by Christ, yet still go to Hell (swift destruction).   So, obviously, the penal substitution / Calvinistic / Reformed (and sometimes "evangelical") version of the atonement is FALSE.

This article was adapted from my post to catholic.com forum made a while ago