Obama's Sunday No Health Care Tax Lie?
Obama's comments on the health care tax mandate Sunday are making the rounds.
I have attached the link and excerpt from the senate bill in committe below which clearly shows that it in fact is an excise tax which contradicts his Sunday talk show comments. Following that is the federal poverty guidelines for calculation of the tax. So basically if you are making over 10k a year and cannot afford insurance you are going to get taxed.Obama: Health mandate not a tax
http://washingtontimes.com/news/2009...ate-not-a-tax/
In a blitz on the Sunday morning talks shows, President Obama rejected the criticism that his proposed mandate that all Americans carry health insurance coverage will burden poor Americans with a new tax
Health Care Reform Bill in Finance Committee.
http://www.senate.gov/cgi-bin/exitms...Future_Act.pdf
Federal Poverty GuidelinesExcise Tax. The consequence for not maintaining insurance would be an excise tax. If a taxpayer‘s MAGI is between 100-300 percent of FPL, the excise tax for failing to obtain coverage for an individual in a taxpayer unit (either as a taxpayer or an individual claimed as a dependent) is $750 per year. However, the maximum penalty for the taxpayer unit is $1,500. If a taxpayer‘s MAGI is above 300 percent of FPL the penalty for failing to obtain coverage for an individual in a taxpayer unit (either as a taxpayer or as an individual claimed as a dependent) is $950 year. However, the maximum penalty amount a family above 300 percent of FPL would pay is $3,800.The excise tax would apply for any period for which the individual is not covered by a health insurance plan with the minimum required benefit but would be prorated for partial years of noncompliance. The excise tax would be assessed through the tax code and applied as an additional amount of Federal tax owed. No excise tax will be assessed for individuals not maintaining health insurance for a period less than or equal to three months in the tax year. However, assessed excise taxes for those not insured for more than three months include the entire duration the individual was uninsured during the tax year.
Exemptions from the excise tax will be made for individuals where the full premium of the lowest cost option available to them (net of subsidies and employer contribution, if any) exceeds ten percent of their AGI. Available policies are defined as an employer policy in the case of an individual who works for an employer who offers coverage and an individual policy in the case of an individual who does not have access to an employer sponsored plan. Exemptions from the excise tax will also be made for individuals below 100 percent of FPL, any health arrangement provided by established religious organizations comprised of individuals with sincerely held beliefs (e.g., such as those participating in Health Sharing Ministries), those experiencing hardship situations (as determined by the Secretary of Health and Human Services) and an individual who is an Indian as defined in Sec. 4 of the Indian Health Care Improvement Act. Additionally, in 2013, individuals at or below 133 percent of FPL will be exempt from the excise tax. When making these determinations, income from individuals not subject to the mandate should not be considered.
http://aspe.hhs.gov/poverty/09poverty.shtml
The 2009 Poverty Guidelines for the
48 Contiguous States and the District of Columbia Persons in family Poverty guideline
1 $10,830
2 14,570
3 18,310
4 22,050
5 25,790
6 29,530
7 33,270
8 37,010
For families with more than 8 persons, add $3,740 for each additional person
Originally Posted by kahless
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