How ObamaCare Is Actually A Tax Cut, Not An Increase

Posted by | June 29, 2012 16:42 | Filed under: Top Stories

Under the health care law, besides the fact that very few people will ever wind up paying a penalty, 28.6 million Americans — mostly middle-income — get a tax cut, according to FamiliesUSA.

We found that an estimated 28.6 million Americans will be eligible for the tax credits in 2014, and that the total value of the tax credits that year will be $110.1 billion. The new tax credits will provide much-needed assistance to insured individuals and families who struggle harder each year to pay rising premiums, as well as to uninsured individuals and families who need help purchasing coverage that otherwise would be completely out of reach financially. Most of the families who will be eligible for the tax credits will be employed, many for small businesses, and will have incomes between two and four times poverty (between $44,100 and $88,200 for a family of four based on 2010 poverty guidelines).

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Copyright 2012 Liberaland
By: Alan

Alan Colmes is the publisher of Liberaland.

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