Today the AP ran an article on a CBO report showing that millions of Americans, the vast majority of them middle class, will be paying fines in excess of $1,000 for not getting health insurance once the health care overhaul kicks in. This is in sharp contrast to President Obama's statement that "if your family earns less than $250,000 a year, you will not see your taxes increased a single dime. I repeat: not one single dime."
Under the new law, the penalties will be phased in starting in 2014. By 2016, those who must get insurance but don't will be fined $695 or 2.5 percent of their household income, whichever is greater.
The article continues:
About 3 million of those required to pay fines in 2016 will have incomes below $59,000 for individuals and $120,000 for families of four, according to the CBO projections.
H.R. 4995, sponsored by Congressman Ron Paul of Texas, would repeal the individual mandate and get rid of these onerous fines. Contact your congressman today and urge them to become a cosponsor.
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