According to President Obama, tax increases will only be applied to the rich. He says he will only increase taxes on individuals earning more than $250,000.
Now that the U.S. Government Accounting Office has analyzed Obamacare and the Supreme Court has told us "[the mandate] is a tax,” here are the facts:
Seventy-four percent of the individuals who will pay the new Obamacare premium earn less than $125,000 per year.
You will show the medical premium calculation on your "tax return.” You will write the check to the IRS, and the IRS will have the power to audit you and take your money if you do not pay.
Eighty-five percent of our 535 elected officials in Washington, D.C. are lawyers. The White House lawyers are still trying to spin this, saying "it is not a tax.”
Lawyers tried to define the word "is” when Clinton was in the White House. Imagine if you replaced all the elected lawyers in D.C. with pastors, doctors, accountants, nurses and business people? Speeches would not be as good, but they would be honest, understandable and shorter.
You do not need to be a lawyer to understand that if you have to account for the mandate on your tax return, if you pay the IRS and if the IRS can penalize you if you do not follow their rules, then the mandate is a tax.