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.
Barry Tesh is a kool-aid drinking dumbfuk! you think you won’t be included in his plans for extinction of America as we knew it? yup. He has your blind, uninformed butt right where he wants you. He isn’t going to be all buddy-buddy with you just cuz you were dumb enough to vote for his sorry, treasonous, terroristic, murdering self. You are going DOWN just like everyone else. Keep thinking you have a place of favor in his plans for total destruction of everyone just like Hitler took out many. I I only wish I could see you get down on your knees and cry like a friggin’ baby and kiss his ass more and beg for your life to be spared because you were nothing but loyal to him as he laughs in your face and walks away as they drag your butt and your family members butts into the many concentration camps that all of them and Fema have set up in oh so many different states. LMAO!!! blind ones refuse to see and admit. I feel sorry for you…You will hope you had prepared for it all but by the time it you see the reality of it all…it will be too late for you. So sad.
HOW IS THAT HOPE & CHANGE WORKING FOR YOU NOW??DUH??
Barbara Welch let me bring you up to date on my sistuation. I AM ON WELFARE! Even working six days aweek with prices constantly going up. All my bills, and childcare I’m barely making it. I don’t drink or use drugs. We don’t go to movie or eat out. I can’t even afford new clothes or shoes without letting a bill go late. I work private care for a company. And I don’t have four kids. I’m freakin low income American struggling to survive and live a decent life. I hate hand out but if it comes down to my pride or my child. My baby always wins. I’m just saying bull$#%&!@* laws on where my money has to go when I know where it needs to go DOES NOT HELP PEOPLE LIKE ME!!!
You could have copied the health-game care from Mauritius, it is not as, you are a great or rich nation that you will not bring the real democracy from elsewhere-time to time ! Happy Birthday America <
sad
Don’t only blame only Obama the senate and congress passed this health care mess to
Hey, they wanted him, they got him…
Mr. Erwin Hunsberger you sir are right. Tammy Sharp Duncan, not me. I did not vote for Obama!
When you let government have control, you can be sure someone is going to be screwed, and it will be a mess.
HE IS SUCH A JERK