Not all surprises are good. When it comes to Obamacare, the original projections are turning into unfortunately different realities. For the next 12 days, Heritage is going to highlight one of the various changes in Obamacare projections (i.e. cost, enrollment, etc.) from when the law first passed until now.Thanks for nothing, Obama and Obama voters.
One of the most infamous features of Obamacare is the individual mandate, which requires most Americans to purchase health insurance or pay a tax for being uninsured.
In 2010, the Congressional Budget Office (CBO) and Joint Committee on Taxation (JCT) estimated that 4 million people would pay the penalty in 2016 and that collections from those penalties would be about $4 billion per year between 2017 and 2019.
In 2012, the CBO and JCT updated their estimate of those paying the mandate to 6 million people in 2016, totaling $7 billion in tax revenue and growing to $8 billion per year from 2017-2022.
Surprise: That’s an increase of 2 million more uninsured people paying the penalty each year and about $3 billion more in tax collections annually.
Merry Christmas!
