Just another sobering reminder that the President’s healthcare plan is a burden on people at every income level. While the administration would like to play semantics on calling it a penalty, the rest of the nation, in light of the recent Supreme Court decision, recognizes the massive tax implications of Obamacare – and now we’re learning that the effects will be economically devastating on one class in particular that the President claims to be a champion for … the poor.
The Daily Caller reports:
The penalty imposed by the Affordable Care Act on citizens who elect not to purchase health insurance will be at least $1,000 for most people, and more than $12,000 for high-income earners, according to an analysis by the nonpartisan Tax Foundation.
“We can see that this is a big tax, particularly on the poor,” writes the Tax Foundation’s William McBride. “Higher income families generally pay a higher amount, but actually a smaller percent of their income, making this a regressive tax.”
For example, the penalty for a family of four earning $20,000 will be $2,085, more than 10 percent of its income, according to the Tax Foundation — whereas a family of four making $100,000 will only have two percent of its income taken away by the government.
A regressive tax for a regressive regime. Why the War on the Poor, Mr. President?
The report then goes on to say that implementation of the individual mandate would have a negative impact on the economy, with people trying to shield their income from the new tax by “working less”.
An unemployment rate at 8.2%, an underemployment rate at nearly 15%, and the implementation of the President’s healthcare plan is going to cause people to ‘work less’ to avoid paying more.
Aren’t people already working less because of the President’s economic policies?
Obama. Isn’t. Working.