/blogentry/68826 Coin Toss's Blog: Obamacare = $1 Trillion In New Taxes en-us Lottery Post RSS Generator /blogentry/68826#c90302 /blogentry/68826#c90302 Mon, 30 Jul 2012 21:41:42 GMT rdgrnr ~Barack Obama<br /> Yeah, right.

]]> rdgrnr /blogentry/68826 /blogentry/68826 Mon, 30 Jul 2012 14:56:27 GMT Coin Toss CBO: Obamacare levies $1 trillion in new taxes

President Obama s health care law raises taxes by $1 trillion, according to a new report from the Congressional Budget Office.

The individual mandate which the CBO calls a penalty tax, in apparent deference to Chief Justice John Roberts will produce $55 billion in penalty payments by uninsured individuals, the CBO told House Speaker John Boehner, R-Ohio, in a Tuesday letter. Of course, the framers of the law didn t design the mandate as a tax, and so it produces less revenue than any other provision in the bill.

The additional hospital insurance tax is the largest tax increase in Obamacare, projected to bring in $318 billion in new revenues. According to the 2010 report from the Journal of Accountancy, this tax hits high-income tax payers individuals making over $125,000 a year or households making over $250,000 a year.

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http://bighealthreport.com/4157/cbo-obamacare-levies-1-trillion-in-new-taxes/

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