Tuesday, August 1, 2017

Most Obamacare mandate fines last year came from far more low to moderate income people than CBO estimated

In other words, Obamacare penalizes people who can least afford it.

Obamacare is just another case of liberals raising taxes on the have-nots and screwing up their healthcare in the process.

From Jed Graham, here:

What is striking about the data is that the average payment is barely higher than the minimum payment of $695. Since people were required to pay the greater of $695 or 2.5% of taxable income above the filing threshold ($10,350 in 2017), one takeaway is that most of the $2.8 billion in fines paid through April appear to have come from people with modest to moderate incomes. As a frame of reference, CBO's 2014 analysis implied that the average mandate payment for this tax season would be roughly $1,075 and that the total amount paid by people earning up to three times the poverty level would barely exceed $1 billion. ... Based on mandate collections that streamed in after April in prior years, the full-year total is likely to rise to roughly 5 million tax forms with mandated payments totaling closer to $4 billion [an average Obamacare individual mandate fine of $800].

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