Saturday, December 30, 2017

Low income

There were almost 7 million people who paid the penalty for not having healthcare and another large group who didn’t have healthcare but did not pay the penalty by lying on their tax form. Who are the people who paid the penalty? There were 6,665,480 households who chose to pay the Obamacare penalty in that year rather than signing up for Affordable Care Act coverage. They paid a total of $3,079,255,000.Of the 6.7 million households who chose to pay a penalty, 37 percent—2.5 million households—earned a salary less than $25,000 per year. There were 5.2 million households that earned a salary less than $50,000 per year who decided to pay the penalty, which totaled 79 percent of households paying the penalty. Finally, 92 percent of the households—6.1 million households—paid the penalty and earned less than $75,000 a year. These are the same people who benefit most from things like lower gas prices, lower utility prices and get hurt the most from cigarette and liquor taxes. With the repeal of the healthcare mandate these lower income groups will benefit.

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