Welcome to Get out of the Dark, a weblog concerned with keeping you informed on finance, economics, business, education, science, technology, politics, world events etc.
I just saw an image from Think Progress that states:
"These five people just saved millions of Americans by protecting Health Care" - Think Progress
Here is the image below. I took the image, photoshopped it, and posted it as saying "These five people just raised your taxes. And you didn't even get to vote for them." - Think About It.
The Supreme Court ruled that Obamacare is a tax, so it can be imposed by Congress.
To be clear, I have no qualms with individual mandates at the State level. They are instituted and upheld all the time.
But at the Federal level, they can only be instituted as a tax. However, I thought Obama said Obamacare wasn't a tax?
(see video)
Looks like the Supreme Court disagrees.
So, Obama has increased our tax burden by $1.76 Trillion, by latest CBO numbers. According to the IRS, there were 142,856,282 Individual Tax Returns for the 2010 Tax Year (most recent available statistical year), meaning Obama's new tax liability on average will be 12,320.07 over the next 10 years by those figures.
Anyone out there know of a president or congress that has levied such a large tax before?
