"First they ignore you, then they ridicule you, then they fight you, then you win." -- Mahatma Gandhi

Obamacare Still Means Billions In Tax Increases

June 28th, 2012 by mopns · No Comments

The Supreme Court’s ruling today upholding President Obama’s unpopular health care law only underscores the case for repealing and replacing it. Indeed, there are plenty of reminders today why Obamacare was such a bad law in the first place, the question of its constitutionality aside. When the law was first making its way through Congress, the Congressional Budget Office reported that at least 75% of individual mandate penalties fall on those making less than $250,000. Since the Supreme Court has declared the mandate a tax, this amounts to a tax hike on middle class families.

Further, Bloomberg News writes, “The U.S. Supreme Court’s decision to uphold the bulk of the 2010 health-care law means wealthy investors may sell assets before the end of the year as taxes in the overhaul remain in place and will take effect next year. The health-care law includes levies and fees that are projected to raise an estimated $813 billion in revenue over 10 years to help pay for the expansion of insurance coverage, according to the Congressional Budget Office. That figure includes the penalties under either the employer mandate or the individual mandate, which the court ruled was constitutional under Congress’ taxing power.”

Meanwhile, ABC News reported yesterday, “Just 36 percent in this ABC News/Washington Post poll express a favorable opinion of the health care law . . . . While the law’s popularity is weak, barely more than half, 52 percent, see it unfavorably, including 38 percent who have a ‘strongly’ unfavorable opinion.”

Related:

Missourinet.com: AG Koster: Missouri did not see individual mandate as constitutional

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