Barack Obama ran as a hero for the common American, promising “hope and change” for the nation’s downtrodden.
It’s no surprise that his signature legislation, Obamacare, was also marketed as an amazing benefit for the middle class and poor Americans.
However, a new report reveals that Obama’s true legacy should actually be taking money out of the pockets of average Americans in one of the rawest deals since Bernie Madoff.
According to Forbes contributor Ryan Ellis, the individual mandate that is at the center of Obamacare actually hits working-class families the hardest.
“The mandate is a tax which punishes those who can least afford it,” Ellis wrote.
He looked at the breakdown of who actually pays the individual mandate surtax, which is the penalty that kicks in if a person doesn’t purchase government-approved health insurance. What he found was shocking.
“According to the IRS, some 6.7 million American families pay Obamacare’s individual mandate surtax, forking over $3 billion annually to Uncle Sam merely for exercising their right not to purchase an unaffordable Obamacare plan,” Ellis wrote.
“It turns out most of these taxpayers are solidly in the middle class. The great majority of them (80 percent) actually make less than $50,000 per year. This is perhaps the most regressive tax we have on the books today.”
Around 5.3 million Americans who earn under $50,000 annually were forced to pay the mandate penalty, which averaged about $340 per person.
Yes, average citizens are being charged hundreds of dollars for the right to not buy expensive insurance. So much for the “Affordable” Care Act.
Sen. Steve Daines, a Montana Republican, did a similar analysis of the numbers, and came to the same conclusion: Individuals and families making under $50,000 are the ones being burdened by the mandate.
What would happen if the mandate and its penalties were dissolved? Contrary to the doom and gloom spread by Obamacare’s proponents, the sky probably wouldn’t fall.
“Ending the individual mandate surtax will not cause anyone to lose their health insurance,” Ellis argued. “It will merely stop punishing people who choose not to buy expensive insurance with a surtax they cannot afford, either.”
During the push to pass Obamacare, Democrats and Obama himself waved away the penalty or surtax as something that middle-class people didn’t need to worry about.
That penalty, they insisted, would be for rich Americans who were wealthy enough to cover their medical expenses out of pocket, or who wanted some exotic insurance plan that didn’t meet the Obamacare requirements.
Like so much — dare we say all? — of Obamacare, the promises turned out to be lies. It was snake oil sold by Democrats who were desperate for a political win.
Nobody disputes that America’s health care system can be improved, but Obamacare was not the way.
Like so much of his agenda, Obama’s Obamacare legacy is falling apart.