If you think the penalty is no big deal right now, Heritage’s Senger warns that “The mandate increases drastically in coming years, rising to $325 or 2 percent of income in 2015, and $695 or 2.5 percent of income in 2016—whichever is greater.” The Congressional Budget Office estimates that from 2015 to 2024, the mandate penalty—which the Supreme Court ruled is essentially a tax—is expected to cost Americans $51 billion. And that was after President Obama promised not to raise taxes on the middle class. It’s worth mentioning the official name of this tax—because it just doesn’t get any more Orwellian. Really, it’s the left’s ideal name for all taxes: the “shared responsibility payment.” Get ready to pay up, comrades.
Posted on: Wed, 19 Mar 2014 10:29:05 +0000
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