If you don’t have insurance, you will be required to buy it. The legislation specifies how much you will have to pay for the coverage before any subsidy kicks in. All during the campaign, Obama kept speaking about affordable coverage. Now it appears that his definition of “affordable” might be a bit elastic.
If your household income is $66,000 a year, slightly above the national average, Obama’s health care bill will require you to spend 12 percent of your income -- about $8,000 a year or almost $700 a month -- to buy health insurance before you get any federal subsidy.
Even those making less will have to reach deep into their meager resources to satisfy Obama’s statutory requirement. Families scraping by on only $44,0000 a year will have to pay 7 percent of their income (about $3,000) on insurance. Even those making just $33,000 will have to ante up 4.5 percent of their income (about $1,500) for health insurance. The required payments reach so far down the scale that those who are living at the federal poverty level of $22,000 will have to shell out 2 percent of their totally inadequate incomes ($440) for insurance.
That Obama is charging premiums to those living at or on the border of poverty is absolutely incredible! And this from a candidate who pledged that he would not tax the middle class! If you have insurance, you will get hit by his proposed 40 percent tax on insurance premiums. ...More
America, You Asked for It!
They say there's a silver lining behind every cloud. Maybe this is true of President Obama's health care plan as well.
Tags: Dick Morris, Eileen McGann, health care, John Allison, Obamacare, taxes To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
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