Notice the numbers originally put out by the CBO always are incorrect and higher?
NEW YORK (CNNMoney) — Congress’ official scorekeeper said Wednesday that roughly two million more Americans will pay penalties under President Obama’s health care law for lacking insurance than had previously been estimated.
Spin CNN, spin. The Supreme Court ruled ObamaCare a tax, not a penalty.
Under the law, Americans must be insured starting in 2014 or pay a penalty assessed on their tax returns.
Higher taxes enforced by the IRS.
Shortly after the legislation passed in 2010, the Congressional Budget Office, working alongside the Joint Committee on Taxation, estimated that in 2016 roughly four million people a year would opt to pay the penalty instead of getting coverage. On Wednesday, the CBO and JCT revised that figure up to six million, citing legislation passed since 2010 as well as the weaker economic outlook.
4 million to 6 million. That’s a 50% increase. The CBO has never, in it’s history, been correct with their projections. See Social Security & Medicare for prime examples.
The groups also pointed to the Supreme Court’s decision earlier this year to make the health care law’s expansion of Medicaid optional for states.
Yes, the Supreme Court ruled Obama can’t extort states who refused to stick taxpayers with higher taxes to cover the expansion of Medicaid.
Of those people who opt for the penalty, 10% are projected to be below the federal poverty level for 2016, which the CBO and JCT estimate will stand at about $12,000 for an individual or $24,600 for a family of four.
Notice the continued use of penalty instead of tax? Just your typical liberal media bias to protect Obama.
In 2014, the penalty will be no more than $285 per family, or 1% of income, whichever is greater. In 2015, the cap rises to $975, or 2% of income. And by 2016, it reaches $2,085 per family, or 2.5% of income, whichever is greater.
The dollar amounts for a single adult would be $95, $325 and $695 during that same time period.
Roughly 30 million non-elderly Americans are projected to remain uninsured in 2016, though most will not be subject to the penalty tax.
What? I thought ObamaCare was supposed to insure 40 million. Just more smoke, mirrors and lies from Team Obama.
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