Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: QT3.14

This looks about right, even as they are using goalseeking CBO numbers, the total % of GDP of the ACA taxes will not go above 0.75% of GDP.

What is interesting is the updated note on the bottom of the link source:

UPDATE: Some readers noticed that our initial analysis of Limbaugh’s claim failed to include references to the penalty that people who declined to purchase health insurance would be asked to pay. After all, the Supreme Court declared that penalty a tax.

The CBO figure we used for our calculation, a total of $104 billion in revenue generated in 2019, is inclusive of all revenues, including the penalty or tax individuals might pay if they do not purchase health insurance. The figure for that year was estimated to be $14 billion for penalties paid for by employees and individuals. (Page 19 of this report.) http://cbo.gov/sites/default/files/cbofiles/ftpdocs/113xx/doc11379/amendreconprop.pdf


Going to page 19 shows the CBO expects in 2019, that 20.1 Million American Slaves (exlcuding illegal aliens, and any member of a religion that doesn’t contribute to Social Security), will NOT buy health insurance AND Pay the IRS penalty.

CBO is estimating that the ACA will only cut the number of uninsured by 2/3rds over the next 7 years.


40 posted on 06/29/2012 1:09:43 PM PDT by JerseyHighlander
[ Post Reply | Private Reply | To 1 | View Replies ]


To: JerseyHighlander; Berlin_Freeper; Hotlanta Mike; Silentgypsy; repubmom; HANG THE EXPENSE; Nepeta; ..


ALL Americans will be hit with the Individual Mandate Tax which will require a couple to pay the higher of a base tax of $1,360 per year, or 2.5% of adjusted growth income starting with lower base tax and rising to this level by 2016. Individuals will see a base tax of $695 and families a base tax of $2,085 per year by 2016.
42 posted on 06/29/2012 1:33:19 PM PDT by Brown Deer (Pray for 0bama. Psalm 109:8)
[ Post Reply | Private Reply | To 40 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson