Obamacare is a tax on Low Income and Middle Class families

I am going to post articles on the fact Obamacare is a tax on the working man and woman to show this administration really only cares about their cronnies. Forbes.com: The Individual Mandate Excise Tax. Starting in 2014, anyone not buying “qualifying” health insurance must pay an income tax surtax. It goes up each year until 2016 and beyond when a couple would pay a tax of the higher of $1,360 or 2.5% of adjusted gross income. ABC News Article: "You can call it what you want," Carney said, underlining Congressional Budget Office estimates that whatever you call it will affect only 1 percent of Americans. "It is not a broad-based tax." "One percent of the population. One percent. You can call it what you want, but it is affecting 1 percent of the population. Because most people either have health insurance or people do the responsible thing and if they can afford health insurance they will purchase it," the spokesman said. Business Insider: As with everything tax-related, there's no simple answer to "How much is the Obamacare penalty tax?" But here are some key points, from FactCheck.org: The penalty/tax will be phased in from 2014 to 2016. The minimum penalty/tax in 2016 will be $695 per person and up to 3-times that per family. After 2016, these amounts will increase at the rate of inflation. The minimum penalty/tax per person will start at $95 in 2014 (and then increase through 2016) No family will ever pay more than 3X the per-person penalty, regardless of how many people are in the family. The $695 per-person penalty is only for those who make between $9,500 and ~$37,000 per year. If you make less than ~$9.500, you're exempt. If you make more than ~$37,000, your penalty is calculated by the following formula... The penalty is 2.5% of any household income above the level at which you are required to file a tax return. That level is currently $9,500 per person and $19,000 per couple. The penalty on any income above that is 2.5%. So the penalty can get expensive quickly if you make a lot of money. However, the penalty can never be more than the cost of a "Bronze" heath insurance plan purchased through one of the state "exchanges" that will be created as part of Obamacare. The CBO estimates that these policies will cost $4,500-$5,000 per person and $12,000-$12,500 per family in 2016, with the costs rising thereafter.         I could go on for year's Obama's Administration needs to repeal his healthcare plan then step down from the Office of President and admit he is a failure to the Office of the President of the United States.