All Posts Tagged With: "Affordable Care Act"

The Costs of Obamacare

Following the Supreme Court ruling upholding The Affordable Care Act, the financial fallout for the American people must be re-highlighted.  We will have political analysis in the coming days, but for now here are the facts regarding the tax implications of this law

Comprehensive List of Tax Hikes in Obamacare

 

Individual Mandate Excise Tax(Jan 2014): Starting in 2014, anyone not buying “qualifying” health insurance must pay an income surtax according to the higher of the following

1 Adult 2 Adults 3+ Adults
2014 1% AGI/$95 1% AGI/$190 1% AGI/$285
2015 2% AGI/$325 2% AGI/$650 2% AGI/$975
2016 + 2.5% AGI/$695 2.5% AGI/$1390 2.5% AGI/$2085

Exemptions for religious objectors, undocumented immigrants, prisoners, those earning less than the poverty line, members of Indian tribes, and …


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