The Congressional Budget Office (CBO) are not reporting significantly higher numbers of people that will incur additional taxes under Obamacare. Is anyone really surprised? I thought not. The numbers coming out are estimating that nearly six million Americans, most who are middle class, will be taxed for not carrying medical coverage.
Just to see how much the numbers were off, Fox News reports,
The earlier estimate found 4 million people would be affected. The difference — 2 million people– represents a 50 percent increase.
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.
Just so that it is clear, should an Obama supporter drop by this website, if you are at home without a job and living on welfare, guess what? By 2016, you’ll be coughing up an additional $1,200 a year for nothing. That’s right, you’ll be taxes for not purchasing a product: health insurance. It’s worse though, many, like myself have paid out of pocket and done just fine without carrying health insurance. That will put an additional strain on my family.
Isn’t it wonderful to know too, that Obama had promised not to raise a dime in taxes on those who made less that $250,000. Remember he’s a lawyer, so technically he’s right. He isn’t raising our taxes by one dime. He’s raising them by at least 12,000 dimes!
Obviously some in our society will opt to pay the $1,200 and not pay many times more than that for health insurance simply because they cannot afford it.
While the Internal Revenue Service struggles to keep up with the massive changes in the law and acquire thousands of agents to enforce it, they are claiming that they won’t be enforcing the Obamacare mandate. Does anyone really believe that? CNBC reports,
“IRS revenue agents will not be involved. There will not be audits,” IRS Deputy Commissioner Steven Miller told a subcommittee of the tax-writing Ways and Means Committee in the Republican-controlled House of Representatives.
The law, passed in 2010 and upheld by the Supreme Court, will charge individuals a fee, or tax, if they fail to buy insurance starting in 2014.
Opponents of the healthcare measure have focused on that requirement, with some Republicans saying they worry the IRS, the agency responsible for tax collection and tax law enforcement, will harass people who fail to buy insurance.
“In most cases, taxpayers will file their tax returns reporting their health insurance coverage, and-or making a payment, and there will be no need for further interactions with the IRS,” Miller said.
Here’s the thing, enforcement of the law is unnecessary with law abiding citizens who will do the right thing. However, should someone choose to say, “Yeah, I have health insurance” when they really don’t, are we to assume the IRS won’t be auditing and getting “involved?” I doubt it.
Everyone save up. The Fed is cranking out Monopoly money as fast as it can, the economy is down, jobs are scarce and we’re about to get hit with a big fat tax for nothing thanks to the current occupant of the White House along with his accomplices in the House and Senate.