CBO: Richard Carmona’s Healthcare Tax Will Hit Millions Of Middle-Class Families With A Massive Tax Hike

NEW NON-PARTSIAN REPORT ON OBAMACARE

CBO: Richard Carmona’s Healthcare Tax Will Hit Millions Of Middle-Class Families With A Massive Tax Hike 

WASHINGTON — Over two years ago, President Obama’s $1.76 trillion healthcare tax law was passed, which forced every Arizonan to purchase health insurance.  Now, the non-partisan Congressional Budget Office released a report on how devastating this tax is for middle-class families. Yet Democrat Richard Carmona supports the law and even called the President “brave” for pushing it.

According to the report, nearly 6 million Americans – most of whom are middle class individuals – will be forced to pay the ObamaCare tax penalty for not purchasing healthcare.  Additionally, this tax is expected to cost each individual approximately $1,200.

As the Associated Press reports:

“Nearly 6 million Americans – most of them in the middle class – will face a tax penalty for not carrying medical coverage once President Barack Obama’s health care overhaul law is fully in place, congressional budget analysts said Wednesday. … And the budget office analysis found that nearly 80 percent of those who’ll face the penalty would be making up to or less than five times the federal poverty level. Currently that would work out to $55,850 or less for an individual and $115,250 or less for a family of four.”  (Ricardo Alonso-Zaldivar, Tax Penalty To Hit Nearly 6M Uninsured People,Associated Press, 9/19/12)

Notably, the Wall Street Journal reported that ObamaCare was the largest tax increase ever on the middle class.

“This non-partisan report makes clear that Democrat Richard Carmona’s healthcare law is a massive tax on Arizona families and small businesses,”  said National Republican Senatorial Committee (NRSC) spokesman Jahan Wilcox.  “In Democrat Richard Carmona’s world, President Obama would get re-elected, we would have higher tax hikes, and an even bigger government debt.”

BACKGROUND….

CBO: ObamaCare Tax Hits Middle Class

New CBO Data Shows That 80 Percent Of Those Paying ObamaCare’s Mandate Tax Will BeFamilies Earning Less Than $123K

• “Congressional budget analysts are now estimating that nearly 6 million Americans — most of them in the middle class — will have to pay a tax penalty for not getting health insurance once President Barack Obama’s health care law is fully in place. That’s 2 million more than a previous estimate found…”(“Tax Penalty To Hit Nearly 6M Uninsured People,” AP, 9/19/12) 

• “The average penalty will be nearly $1,200.” (“Tax Penalty To Hit Nearly 6M Uninsured People,” AP, 9/19/12) 

• Four out of five who will pay penalty have an adjusted gross income of less than $123,000. (“Payments Of Penalties For Being Uninsured Under The Affordable Care Act,” CBO, P.2, 9/12) 

Household Income Down: ‘Middle Class Lost Ground Again Last Year’

The Washington Post: “The middle class lost ground again last year, falling to an all-time low in their share of how much income they take in, new census data released Wednesday showed.” (“Census: Middle Class Shrinks To An All-Time Low,” The Washington Post, 9/12/12) 

U.S. Census Bureau: “Real median household income in the United States in 2011 was $50,054, a 1.5 percent decline from the 2010 median and the second consecutive annual drop.” (“Income, Poverty And Health Insurance Coverage In The United States: 2011 Press Release” U.S. Census Bureau, 9/12/12) 

• Household income down $777. “2010 Median income, All households: $50,831 … 2011 Median income, All households: $50,054.” (“Income, Poverty And Health Insurance Coverage In The United States: 2011 Press Release” U.S. Census Bureau, P.6, 9/12/12) 

• “In 2011, real median household income was 8.1 percent lower than in 2007, the year before the most recent recession…” (“Income, Poverty And Health Insurance Coverage In The United States: 2011 Press Release” U.S. Census Bureau, 9/12/12)

• “Real median earnings of both men and women who worked full time, year-round declined by 2.5 percent between 2010 and 2011.” (“Income, Poverty And Health Insurance Coverage In The United States: 2011 Press Release” U.S. Census Bureau, 9/12/12)

# # #