Economics, Health Care

The Obamacare tax in one easy chart

President Obama signing the Affordable Care Act into law

President Obama signs the Affordable Care Act into law. Image Credit: Pete Souza via Wikimedia Commons

Now that the Supreme Court has ruled that the individual mandate is in fact a tax, the next question is: Who will it hit and by how much?

According to the Congressional Budget Office, of the 3.9 million people who will pay the new Obamacare tax, 3 million are middle-class individuals and families making less than 500 percent of the federal poverty level. They will collectively pay $1.9 billion in new taxes under Obamcare.

In other words, the president who swore he would not raise taxes on the middle class has hit 3 million middle class Americans with a nearly $2 billion tax increase.

Here is the story of the Obamacare tax in one easy chart:

How the Obamacare tax will affect Americans

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