Obamacare was craftily written…
Benefits come first, and then the bite comes later.
You see, if you remained uninsured in 2014, you would have paid a penalty of $95 (or 1% above the filing threshold).
But the fines were structured to increase over time. And 2015 is the year that average citizens will really start to feel the sting.
Uncle Sam Fines More and More…
For 2015, you’re facing a $325 fine, or a penalty that’s 2% of income above the filing threshold.
Remember, there’s always a lag in the way you pay with taxes… The penalty is calculated when you file your return based on your income in the tax year, so 2016 penalties will actually be collected in 2017.
And current members of Congress are acting powerless to do anything about it, using the excuse that it was passed by Congress way back in 2009.
The final kick in the head comes in 2016 when Obama is heading out the door. According to government sources, the fine in 2016 will be slightly over $1,100!
But now that the Republicans have control of Congress, can we expect anything to change? Hardly!
At most, we can expect to see mere revisions to Obamacare.
I mean, it’s important to remember that Obamacare has done something big business wanted – getting the healthcare monkey off their back. And over time, Obamacare will move the responsibility of healthcare from employers to employees.
Remember also that the original framework for Obamacare came from Romneycare in Massachusetts, and he worked closely with the “conservative” Heritage Foundation to craft his bill. These types of historic facts often become obscured by the rhetoric.
If anything, the Democrats made the whole policy less taxing on the working poor by handing out a Christmas tree of subsidies.
But as Republicans make Obamacare more “fiscally sound,” look for some of the subsidies to go away.
Gov’t Fiscal Irresponsibility
The real story of healthcare spending is about generational transfer payments. The baby boom generation has a host of healthcare problems from years of drug abuse and partying. Now, they’re overweight and don’t want to pay the tab for their healthcare.
The government needs more money to pay the healthcare bills of older Americans, and forcing young, healthy workers to pay more into the insurance system is a way to subsidize the older population.
As my colleague, Chris Worthington, has so clearly explained, while the middle class is getting smaller and losing wealth, Obamacare continues the transfer payments.
And businesses and stockholders benefit by shedding healthcare costs for workers.
American socialism is socialism turned on its head. The rich get bailed out, and the middle class and wage earners pay the tab. In other words, we have socialism for the wealthy.
Your eyes on the Hill,