Author Topic: Report: youth to spend one-third of income on taxes, health-care  (Read 125 times)

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Report: Youth to spend one-third of income on taxes, health care
By T. Kevin Whiteman on March 31, 2014 at 4:42 pm 

“I was all for Obamacare until I found out I was paying for it.” — Anonymous California woman.

Despite a steady stream of promises from the Obama administration regarding the amount of money Americans will need to subtract from their take-home pay, Sarah Hurtubise of the Daily Caller reports on a newly released study that reveals that the Affordable Care Act will actually excise a rather sizable chunk from the paychecks of America’s youth.

The report, penned by analyst Scott Gottlieb of the American Enterprise Institute (AIE), claims that the average 30-year-old Illinois resident will be dropping 14% of his monthly income on Obama Care premiums. As a point of comparison, Gottlieb notes:

Pennsylvania had the lowest rates for Obamacare health coverage, with an average annual premium payment of $1,620 for someone who makes $20,000 per year, with a $600 deductible. But making just $5,000 more per year skyrockets the cost up to $2,328 in yearly premiums and a $4,000 deductible.

Gottlieb further points out that residents of Arizona who pull in “$30,000 will spend over 9 percent of their annual income on premiums. That climbs to over 10 percent in Pennsylvania, almost 11 percent in Texas and a whopping 13.64 percent in Illinois.”

Hawking Obamacare as “brosurance” to American youth, Obama has consistently ensured the citizenry that the federalized health care exchange would save upward of $2,500 in premiums costs per family. But an AIE study released in early March showed that costs would do anything but go down. AIE referenced a report by the Congressional Budget Office (CBO) which had noted an increase of $2,100 per family in the nongroup market.

With the federal government beginning to tax gross income starting at 10% and most states withdrawing at least five, the nation’s youth could see upward of a full third of their monthly income financing their health care fix.

In everyday terms that equates to the average 9-to-5, Monday-through-Friday worker relinquishing all of his pay from early Thursday on to the federal coffers.


America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves. Abraham Lincoln

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