But as the Supreme Court has now authoritatively ruled, the Obamacare individual mandate, requiring workers to purchase the health insurance the government specifies each family must buy, is a tax. And that tax applies to the middle class and working people.
CBO estimates that health insurance will cost $15,000 per year on average for families soon after Obamacare is fully implemented, rising rapidly from there. That is the individual mandate tax on the middle class and working people.
Of course, Obamacare includes a whole new entitlement program (just what we need) providing health insurance welfare for families making up to $88,000 a year to start, rising to over $100,000 a year after a few years. With that welfare, the net cost to families at different income levels is limited to 2 percent of income for people at 133 percent of poverty up to 9.8 percent of income for people at 400 percent of poverty. But that in itself is still like a new payroll tax, or income tax surcharge.
Moreover, taxpayers pay for the health insurance welfare as well. So the entire cost of the individual mandate tax is still $15,000 per year for families to start, and rising rapidly. That adds up to the largest tax increase on the middle class in world history.
On July 9, President Obama proposed to extend for one year the Bush tax cuts for the middle class, defined as singles making less than $200,000 per year, and couples making less than $250,000 per year, but to let the tax cuts for those earning above those thresholds expire now. A caller to a national radio show recently said the proposal meant Obama was looking out for the middle class. But if Obama is looking out for the middle class, why is he proposing to extend their Bush tax cuts for only one year? This is the first time Obama is implying that maybe the Bush tax cuts for the middle class may not become permanent either.
And then who passed those middle class tax cuts in the first place that Obama is proposing to extend? That would be President Bush and the then Congressional majority Republicans, with almost every Democrat opposing the relief. But Obama and his Che Guevara Democrats have been telling us for 4 years that Bush and the Republicans only cut taxes for the rich. Even according to CBO, the Bush middle class tax cuts Obama wants to extend dwarf the Bush tax cuts for "the rich" Obama does not want to extend.
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