Wednesday, September 19, 2012

Evolution To Obamacare Explained

Before Obamacare, the problem poor families faced was the choice between buying health care insurance they could ill afford or no health care insurance.

See how Obamacare has improved the the lot of the poor? Now the choice is between buying health care insurance they can ill afford or pay a fine. From CNN:
Congress' official scorekeeper said Wednesday that roughly two million more Americans will pay penalties under President Obama's health care law for lacking insurance than had previously been estimated.

Under the law, Americans must be insured starting in 2014 or pay a penalty assessed on their tax returns.

Shortly after the legislation passed in 2010, the Congressional Budget Office, working alongside the Joint Committee on Taxation, estimated that in 2016 roughly four million people a year would opt to pay the penalty instead of getting coverage. On Wednesday, the CBO and JCT revised that figure up to six million, citing legislation passed since 2010 as well as the weaker economic outlook.

Isn't that quaint? I remember hearing that one of the main reasons for more government intrusion into health care was that the cost of care was bad for the economy. Things were supposed to improve with such 'good news'. Of course, the economy was supposed to improve with the stimulus. I digress.

So, who will the false promises hurt the most?
Of those people who opt for the penalty, 10% are projected to be below the federal poverty level for 2016, which the CBO and JCT estimate will stand at about $12,000 for an individual or $24,600 for a family of four.
In 2014, the penalty will be no more than $285 per family, or 1% of income, whichever is greater. In 2015, the cap rises to $975, or 2% of income. And by 2016, it reaches $2,085 per family, or 2.5% of income, whichever is greater.

Isn't it awesome! My, how that President Obama looked out for the little guy!

I wonder what it would look like if Obama was trying to screw the poor?

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