The ObamaCare Tax
By Stephen Moore @ WSJ (June 28, 20120
When Congress was debating for months and months, the Obama team argued that the individual mandate “is not a tax.” This was to spare the White House the embarrassment of admitting that President Obama was violating right out of the box his sacred promise not to tax anyone earning less than $200,000. According to Congressional figures 70% to 75% of the “tax” falls on those who earn less than $200,000 per year, and that is 8 million non-rich people. So Mr. Obama argued this was a mandate and a fine to enforce the requirement to buy health care.
So the White House won by conceding that their mandate is a tax on anyone whether you make $200,000 or $20,000. Mr. Obama’s team is surely uncorking the champagne bottles, but taxpayers may not be so happy.