The latest projection by the Congressional Budget Office is that six million American middle class families will pay at least $1,200 a year for not being insured. This will hit them in 2016, just in time for the next presidential election.
The estimate of six million is up 50% from the previous estimate.
You may recall that President Obama assured voters that this no-coverage fine would apply only to families earning under $200,000 a year. There are voters who believed him. Silly voters.
So, here’s the deal. Families will get hit with the fine because they have no insurance. That will force them to buy insurance. That’s supposed to force them to buy insurance. From whom? At what price? If they can’t buy it, then they wil pay the fine and still not be covered.
Nancy Pelosi was honest in her own unscrupulous way. She told the House that they could read the bill after they voted for it. That sounds preposterous, but since Congressmen never read the bills, her statement made sense. Here is her logic. “Since you won’t read it anyway, you might as well vote now. Not reading the bills never stopped Congress from passing all the other laws it has passed.”
The budget office said most of the increase in its estimate is due to changes in underlying projections about the economy, incorporating the effects of new federal legislation, as well as higher unemployment and lower wages.
Starting in 2014, the new health care law requires virtually every legal resident of the U.S. to carry health insurance or face a tax penalty. The Supreme Court upheld Obama’s law as constitutional in a 5-4 decision this summer, finding that the insurance mandate and the tax penalty enforcing it fall within the power of Congress to impose taxes. The penalty will be collected by the IRS, just like taxes.