If the House health care bill squeaks through the Senate and is signed into law by the President, those failing to buy into the health insurance business will face steep fines and even jail time.
According to the nonpartisan Joint Committee on Taxation, the House version of this trillion dollar health-care boondoggle will pay a fine of 2.5 percent of their yearly salary or face up to five years in prison.
Pelosi’s massive health legislation describes the penalties in section 7203; it is a misdemeanor to willfully fail to pay for health insurance and it is punishable by a fine of up to $25, 000 and/or imprisonment of up to one year.
In section 7201 it will be a felony to willfully evade purchasing health insurance and it is punishable by five years in prison and/or $250,000 fine.
If American’s would like to pass on jail time, they will need to pony up some serious Benjamin’s by 2016. The Congressional Budget Office (CBO) estimated that a family of four would have to pay $15,000 per year.
The Obama vision of health care will cost low-income families, who make $45,000, approximately 8 percent of their salary. While those making upwards of $65,000 will have to pitch in approximately 12 percent of their earnings in order to pay their insurance tab.
To be fair, The Joint Committee on Taxation reported the Senate Finance Committee bill doesn’t include the same prison time provisions. It also points to the fact that it will be a tough road for both bills to reconcile in order to present unified health care legislation for the President’s to sign.
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