When passed, the CBO estimated that Obamacare would raise taxes on 4 million individuals. Now it is estimated that 6 million individuals will have their taxes raised and the bulk of them will be the middle class who Obama made a solemn promise not to raise taxes. Given Congress’s notorious history of underestimating the costs of any program it enacts I can only imagine what the actual number will be in 2016 when the penalty will be enforced. Is anyone reading Obama’s lips?
“The new estimate amounts to an inconvenient fact for the administration, a reminder of what critics see as broken promises.
The numbers from the nonpartisan Congressional Budget Office are 50 percent higher than a previous projection by the same office in 2010, shortly after the law passed. The earlier estimate found 4 million people would be affected in 2016, when the penalty is fully in effect.
And the budget office analysis found that nearly 80 percent of those who’ll face the penalty would be making up to or less than five times the federal poverty level. Currently that would work out to $55,850 or less for an individual and $115,250 or less for a family of four.
Average penalty: about $1,200 in 2016.”
Watch the lips of Obama’s promises on the video below and Then read the rest of what the CBO says here
Still like the promises of socialistic programs? Funny thing, Socialism, it paints a pretty picture of what society will be like under its system but it never seems to be able to keep its promises when people are convinced to accept them.