Nancy Pelosi will go down as the worst House Speaker in history!

What else can we model after the super successful programs of social security, medicare, and medicaid?

On Nov. 2, the Congressional Budget Office estimated what the plans will likely cost. An individual earning $44,000 before taxes who purchases his own insurance will have to pay a $5,300 premium and an estimated $2,000 in out-of-pocket expenses, for a total of $7,300 a year, which is 17% of his pre-tax income. A family earning $102,100 a year before taxes will have to pay a $15,000 premium plus an estimated $5,300 out-of-pocket, for a $20,300 total, or 20% of its pre-tax income. Individuals and families earning less than these amounts will be eligible for subsidies paid directly to their insurer.

That’s a lot to pay, even for people who are working. This bill is a disaster waiting to happen.

I sourced that, because it seemed pretty outrageous, (link) and while it was a discussion in the Senate, in reading the complete bill:

SEC. 59B. TAX ON INDIVIDUALS WITHOUT ACCEPTABLE HEALTH CARE COVERAGE.

`(a) Tax Imposed- In the case of any individual who does not meet the requirements of subsection (d) at any time during the taxable year, there is hereby imposed a tax equal to 2.5 percent of the excess of–

`(1) the taxpayer’s modified adjusted gross income for the taxable year, over

`(2) the amount of gross income specified in section 6012(a)(1) with respect to the taxpayer.

This would technically mean if a person did not pay the required tax, they would be in violation of the law and if it was deemed a felony, as opposed to a misdemeanor, the maximum penalty is five years in prison…This does not take affect until 2012, and it hasn’t passed the Senate, but I was surprised it hasn’t gotten more attention since basically those who can’t afford health care would have to pay the additional tax, and paying the additional tax does not pay for health insurance. Which I suppose it could be argued for some, it would be cheaper to pay the 2.5% income tax penalty as opposed to buy health insurance.

Further research is needed as to where that 2.5% penalty would go…