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.
Big p***k come’s to mind, oh no, little p***k is better.
1.5 billion a month for illegal immigrants when we have thousands of homeless Veterans on the streets. 1.5 billions a month when we have veterans dying waiting for there 1st visit in the hospital. To all the active duty in our military you could be a victim too. Why take orders from someone that wants you dead or killed? When you get discharge you want to live in freedom or you want to live in country with tyrants running the country? We the people needs you more then anything right now. Choose how you want our future.
He just keeps $#%&!@*ing the American people and he doesn’t care
MAKE THE JACKA– PAY FOR EVERYONE
I didnt enroll and never will. I will also never pay a dime to them. When all this comes down(including gun confiscation, martial law, etc..) im going to be fighting and im not talking about with words.
Screw The Muslim POC
How are they going to pay penalties when they are already low income and don’t even have any money even for these trash Obamacare.
Finally someone who gets it.
wish you would take your gop bull $#%&!@* and eat it then go away
Now, there’s a surprise!! NOT!