Posted on 12/09/2014 5:02:04 AM PST by SeekAndFind
ObamaCare's individual mandate penalties were supposed to encourage people to buy insurance. But it turns out that the penalties amount to a regressive tax that hits lower-income families the hardest.
That's the conclusion of the Minnesota-based Citizen's Council for Health Freedom (CCHF), which found that low-income couples who don't buy an ObamaCare plan will end up paying a far greater share of their income in penalties than those making twice as much.
In 2016, the penalty will be either $325 per adult plus $162.50 per child, or 2% of any income above the tax-filing threshold, whichever is greater.
So a couple making $28,000 a year would pay $650 in ObamaCare penalties because $650 is more than 2% of their income. In fact, it works out to 2.3% of their income.
But a couple making $55,000 will end up paying the 2% penalty, or $700, because that's the greater amount for that couple.
As a share of income, the poor's 2.3% tax bite is 15% higher than the middle-income couple's 2%. Next, CCHF shows what happens when you add two children into the mix.
At $325 per adult plus $162.50 per child, the family making $28,000 would pay $975 because the per-person penalty is higher than 2% of income. It's equal to 3.5% of their income.
But look what happens to a family making $55,000. Two percent of their income (above the filing threshold) is $700, according to CCHF. So they'd pay the same $975 penalty as the low-income family.
It works out to 1.8% of their income.
Is that fair?
(Excerpt) Read more at news.investors.com ...
Gruber told us so. There was a struggle to develop language to insure it would not be recieved as a tax.
roberts uncovered and exposed the lie
regressive tax? Are you kidding?
then i am for it.
FU Pelosi. What was your bonus commission to get it passed. Sane people wouldn’t have signed off on such a program with monetary inventive so ow much did you get paid?
-——then i am for it.——
That’s where Machiavelli comes in to the matter........
The regressive tax that we conservatives applaud is attached to an absolutely disgusting loathsome law we can’t stand
There is nothing “hidden” about this tax. It’s part of the Obamacare law that Obama signed in March 2010. Anyone who supported Obama and Obamacare and complains about this tax is an idiot.
How was Roberts right? It’s clearly written in the law as a penalty. Roberts decided to call it a tax so it would stay.
And now we call it a tax too. It’s a tidy system.
Ask yourself how many people are really going to pay this taz? Probably not many. Unless you have a refund coming on your tax return there is no way to collect the tax from you. If you don’t have enough money to buy the insurance you likely don’t have enough cash to pony up the tax.
Although I was a youngster during President Eisenhower’s terms in office I remember the good times and life was good.
His farewell speech was spot on about his fears for the future and increasing government control over the citizens.
President Dwight Eisenhower’s Farewell Address to the nation January 17, 1961
https://www.youtube.com/watch?v=CWiIYW_fBfY
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