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Obamacare Tax Penalty to Hit 6 Million Middle Class Americans
Monday, 24 September 2012 08:02
Written by Justin Credible
And President Barack Hussein Obama wants Americans to believe he's not a class warfare Marxist, while he campaigns off of Mitt Romney's 47% comment about the dependent class exploited by Democrats. The Congressional Budget Office, the same people that said Obamacare would reduce the deficit by $1 trillion - cough, bullshit, cough - released a new report showing that six million middle class Americans will face a tax penalty because of the individual mandate. And the administration said this wasn't a tax.
President Obama owes the American people an explanation as to how Obamacare was rammed into law; what liberal special interest groups where involved; what promises where made to cronies in return for unfettered government intervention in the health care industry. Here are details from the AP:
Nearly 6 million Americans — significantly more than first estimated— will face a tax penalty under President Barack Obama's health overhaul for not getting insurance, congressional analysts said Wednesday. Most would be in the middle class.
The new estimate amounts to an inconvenient fact for the administration, a reminder of what critics see as broken promises.
The numbers from the nonpartisan Congressional Budget Office are 50 percent higher than a previous projection by the same office in 2010, shortly after the law passed. The earlier estimate found 4 million people would be affected in 2016, when the penalty is fully in effect.
That's still only a sliver of the population, given that more than 150 million people currently are covered by employer plans. Nonetheless, in his first campaign for the White House, Obama pledged not to raise taxes on individuals making less than $200,000 a year and couples making less than $250,000.
And the budget office analysis found that nearly 80 percent of those who'll face the penalty would be making up to or less than five times the federal poverty level. Currently that would work out to $55,850 or less for an individual and $115,250 or less for a family of four.
Average penalty: about $1,200 in 2016.
"The bad news and broken promises from Obamacare just keep piling up," said Rep. Dave Camp, R-Mich., chairman of the House Ways and Means Committee, who wants to repeal the law.
Starting in 2014, virtually every legal resident of the U.S. will be required to carry health insurance or face a tax penalty, with exemptions for financial hardship, religious objections and certain other circumstances. Most people will not have to worry about the requirement since they already have coverage through employers, government programs like Medicare or by buying their own policies.
A spokeswoman for the Obama administration said 98 percent of Americans will not be affected by the tax penalty — and suggested that those who will be should face up to their civic responsibilities.
And more and more garbage Americans have to take out the garbage as Obama destroys the country. The individual mandate is a way for the government to pay for the monstrosity, as well as the other countless taxes in Obamacare. It's expected to pull in $6.9 billion in 2016, but it's guaranteed that estimate will get blown away with reality if this Marxist doesn't join the unemployment ranks.
23 million Americans are unemployed; 47 million are on food stamps; medium household income is down $4,000 - are you really better off today than you were four years ago? Obamacare is the most divisive law in modern American history, passed on a partisan Democrat line to control the individual.
Justin Credible is a contributing editor for Habledash.