Obama Gives The Middle Class The Largest Tax Increase In History

After promising no middle class tax hikes, Obama has slammed the middle class with yet another huge tax hike.

Under the law, every individual in the country must obtain coverage by the end of open enrollment period on March 31, 2014. After that point, the government will implement the mandate, which charges those without insurance a fee of $95 in 2014, or 1% of their annual income, whichever is higher. The IRS will determine and implement the size of the fine via tax filings.

The penalties for failing to have coverage will continue to climb to up to 2.5% of annual income by 2016, a move lawmakers designed to push more people into the health insurance marketplaces, but many experts question the effectiveness of a mandate

How Will Uncle Sam Enforce the Individual Mandate? | Fox Business


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4 Responses to Obama Gives The Middle Class The Largest Tax Increase In History

  1. Okie says:

    C. S. Lewis -“Of all tyrannies, a tyranny exercised for the good of its victims may be the most oppressive.”

  2. Traitor In Chief says:

    It’s worse than anyone thinks. Subsidies exist all the way up to 90K+ My affordable policy has been replaced by three alternatives, the cheapest of which is almost DOUBLE what I was paying.

    And It looks like I will also be receiving FAR LESS than I was getting before. But the real pain for our country is that Millions of people who will be asked to pay nearly NOTHING are flooding the websites to sign up for their FREE FREE FREE healthcare. NOT free, you say? If the premium for a plan is less than $100, it might as well be. Nearly HALF of Americans make less than 30K/yr. For these people, it’s a welfare program. Lets say they refuse to sign up. What happens? They get FREE health care. Cost? 1% of yearly income…. or $300 for a full years full boat medical insurance.

    The real problem with Obungocare is that it is designed to bankrupt our country in very short order…. by spending far beyond what we can ever pay for.

    On the bright side, Belize allows you to import all household items duty free! Get a condo on the beach, and watch the mushroom cloud rise over the horizon. Obama Akbar!

  3. Smokey says:

    “No family making less than $250,000 a year will see any form of tax increase.”

    ~ B. Hussein Obama, September 12, 2008

    Falsus in uno, falsus in omnibus.

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