September 19, 2012

Obamacare to be bigger revenue-raiser than previously predicted

By Obamacare to be bigger revenue-raiser than previously predicted

The Washington Times reports that the Congressional Budget Office (CBO) has revised–upwards–its estimate of the number of people who will have to pay the Obamacare tax for going without a federally mandated health-insurance plan. Not surprisingly, the tax burden will fall mostly on the middle class. According to the CBO, six million Americans will pay the tax, allowing the federal Treasury to collect about $7 billion in 2016 and $8 billion per year thereafter. That’s a whole lot of revenue from a tax law that unconstitutionally originated in the Senate, as opposed to the House.

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