CBO: Four Million Americans to Pay Obamacare Tax
Four millions Americans will be hit with Obamacare’s individual mandate tax in 2016 according to an analysis by the Congressional Budget Office. From Americans for Tax Reform:
The report, titled Payments of Penalties for Being Uninsured Under the Affordable Care Act: 2014 Update, includes a gingerly-worded reminder that Americans will be liable for the tax as part of their annual tax-filing process:
“Among the uninsured people subject to the penalty, many are expected to voluntarily report on their tax returns that they are uninsured and to pay the amount owed.”
The CBO data also show that the overwhelming majority of those liable for the tax are part of low-to-middle income households, a clear violation of President Obama’s promise against “any form of tax increase” on Americans making less than $250,000 per year.