CBO: ObamaCare Tax Hits Middle Class

New CBO Data Shows That 80 Percent Of Those Paying ObamaCare’s Mandate Tax Will Be Families Earning Less Than $123K

New CBO Data: ‘The Middle Class — Will Have To Pay’“Congressional budget analysts are now estimating that nearly 6 million Americans — most of them in the middle class — will have to pay a tax penalty for not getting health insurance once President Barack Obama’s health care law is fully in place. That’s 2 million more than a previous estimate found...” (“Tax Penalty To Hit Nearly 6M Uninsured People,” AP, 9/19/12)

• “The average penalty will be nearly $1,200.” (“Tax Penalty To Hit Nearly 6M Uninsured People,” AP, 9/19/12)
• Four out of five who will pay penalty have an adjusted gross income of less than $123,000. (“Payments Of Penalties For Being Uninsured Under The Affordable Care Act,” CBO, P.2, 9/12)

BROKEN PROMISE: ‘Absolutely Not A Tax Increase’

STEPHANOPOULOS: “Under this mandate, the government is forcing people to spend money, fining you if you don’t. How is that not a tax?” … PRESIDENT OBAMA:  “No. That's not true, George. The — for us to say that you've got to take a responsibility to get health insurance is absolutely not a tax increase.  What it's saying is, is that we're not going to have other people carrying your burdens for you anymore than the fact that right now everybody in America, just about, has to get auto insurance. Nobody considers that a tax increase.” (“Obama: Mandate Is Not A Tax,” ABC News, 9/20/09)

SEN. BARACK OBAMA (D-IL): “And if you're a family making less than $250,000 a year, my plan won't raise your taxes one penny -- not your income taxes, not your payroll taxes, not your capital gains taxes, not any of your taxes.” (Barack Obama, Remarks, Orlando, FL, 8/3/08)

Household Income Down: ‘Middle Class Lost Ground Again Last Year’

The Washington Post: “The middle class lost ground again last year, falling to an all-time low in their share of how much income they take in, new census data released Wednesday showed.” (“Census: Middle Class Shrinks To An All-Time Low,” The Washington Post, 9/12/12)

U.S. Census Bureau: “Real median household income in the United States in 2011 was $50,054, a 1.5 percent decline from the 2010 median and the second consecutive annual drop.” (“Income, Poverty And Health Insurance Coverage In The United States: 2011 Press Release” U.S. Census Bureau, 9/12/12)

• Household income down $777. “2010 Median income, All households: $50,831 … 2011 Median income, All households: $50,054.” Ibid
• “In 2011, real median household income was 8.1 percent lower than in 2007, the year before the most recent recession…” Ibid
• “Real median earnings of both men and women who worked full time, year-round declined by 2.5 percent between 2010 and 2011.” Ibid

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