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.
Good for them
He’ll be taken are tax money when we can’t pay for it.how does he get away with it .how is he still here do the people have no say what to hell.why why why why why.doesn’t some one do something.who’s going to protect the people from his asssssssss.
Lying sack of $#%&!@* WIGGER! We American’s knows Obama, you are out to destroy us and most likely have some of your Muslim radical over here waiting to try and take down America. You $#%&!@*ing CRIMINAL !
tough $#%&!@* whats he gonna do throw everyone in jail take away all there belongings kick them out of there home , people can barley feed and pay bills and to force this health care on everyone is sickening. Yet he gives the immigrants free care and food and housing and education to those who don’t belong here he needs to be impeached for braking the laws of the U.S and everything he does is so wrong ! Congress you are a bunch of spineless hypocrytes and I am sick of you all !
Barry Tesh you must be one the great American people not included in the low income bracket. Most low income people I know don’t have and can’t afford all that stuff you are talking about. All Obama has done for me is make it mandatory for me as a single mom struggling to pay the rent, elect, water, and phone so my kids school can keep in touch with me, have it harder. He’s added two new bills by law that I can’t afford. If I freakin could have to begin with don’t you think I would have without some ass having to tell me what else to pay with the little bit of money I earn working six damn days a week?
Let’s share to the nation!
As one of the damncrap leaders said, “We must vote on it so we can see what is in it.” Well Nancy, how well has that worked out for the people.
the senat is the one to start impeachment proceedings and harry the pedophile greedy reid wont allow any such bill to come on the floor of the senate for a vote NEVER EVER VOTE FOR A DEMOCRAT
KERRY BRADFORD SORRY she was talking about welfare folks not those who earn you are one we would help remember being in your position with 4 little ones
they are all nothing more than a modern day gestapo ruling by fear and intimidation but that’s ok I will never get insurance through a government run anything! its a little ironic how this administration says how good it is but every last one of them have opted out of it hmmmm