About 4 million people — including the estimated 1 million low-income Americans must to pay the Obamacare penalty for 2016.
So how is that promise for insurance for everyone working out?
A report last week from the Congressional Budget Office estimated that 1 million Americans will be required to pay a penalty to the Federal government by the end of next year as a “tax” for declining to purchase health insurance under Obamacare’s individual mandate provision.
In all, CBO now expects about 4 million people — including the estimated 1 million low-income Americans who live below the government’s 200 percent poverty threshold — to pay the Obamacare penalty for 2016.
From the report:
“CBO and [the Joint Committee on Taxation] JCT’s estimates of the number of people who will pay penalties account for likely compliance rates as well as the ability of the Internal Revenue Service (IRS) to administer and collect the penalty payments.
All told, CBO and JCT estimate that about 4 million people will pay a penalty because they are uninsured in 2016 (a figure that includes uninsured dependents who have the penalty paid on their behalf). An estimated $4 billion will be collected from those who are uninsured in 2016, and, on average, an estimated $5 billion will be collected per year over the 2017-2024 period.
Of the 1 million Americans the government regards as “low-income,” roughly 200,000 will earn gross income of less than 100 percent of the government’s poverty baseline; another 800,000 will earn less than 200 percent of the gross income poverty line, which places them in a category of low-income earners eligible to receive a host of Federal poverty entitlements. For a breakdown of how the Department of Health and Human Services assesses “poverty” as a ratio of household size to annual income, see the department’s 2014 poverty guidelines.
The CBO graph below illustrates the Obamacare penalty forecast as a function of income demographics:
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“In general, households with lower income will pay the flat dollar penalty (with adjustments to account for the lower penalty for children and the overall cap on family payments), and households with higher income will pay a percentage of their income,” the report indicates.
And the penalty is death, because the hospitals are now turning people away.
No one will pay.
why the $#%&!@* do you post this $#%&!@* all you are a $#%&!@*en social media. this sounds so $#%&!@*en sad and its not like any of you government junkies can do all you ass holes do is put fear in people. what a great way to contribute you the us and to all the mistake makers by following you. stirring more $#%&!@* you add to the big pot. you look so weak behind the photos you post of obama and more pathetic when i read this propaganda, your just as good to be a senator or a congress men as actually skilled to jump behind a firing automatic gun. what you are doing is spreading a sickness a disease. how do you people make impossible the $#%&!@* that is never meant to be. you find a way to make it look good and flaunt it.. yap yap yap yap, $#%&!@* go volunteer some where but dont bring this truth and fagot $#%&!@* please i think us people had it. pack your $#%&!@* pack your truth(lies) and take these ideas and connect with a priest is is dumber and stupid to tell you he has a million or more people that will listen to you. ps im not asking any questions around here just makin a damn comment so save any responses
as long as there is a government here you will be here as well.
but when its gone,
long gone
what will you do?
EVERYONE IN CONGRESS & THE SENATE & THIS WUSSY YOU CALL A PRESIDENT, KNEW IN 2010 THAT OBAMACARE WOULD NOT WORK. MARY LANDRU STOOD UP IN 2013 & SAID THAT THEY ALL KNEW THAT THIS OBAMACARE WOULD NOT WORK. BUT YET WHY DIDN’T THIS CONGRESSWOMAN MARY LANDRU TELL US IN 2010 ? ED
The VA disaster is a preview of what`s coming with Obamacare. Palin was right about death panels.
Lightning should strike him down.