Tags: obamacare | cost | middle | class

WSJ Economist: Obamacare Costs Will Fall on Middle Class

Monday, 02 Jul 2012 11:26 AM

By Patrick Hobin

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Most of the costs of Obamacare’s massive tax increases will fall on the backs of middle class families, a senior economics writer for The Wall Street Journal told Fox News.

Stephen Moore, a senior economics writer with the Journal, called the Obamacare taxes “a big punch in the stomach to middle class families.”

“You remember the President’s promise that when he was elected no one who makes under $200,000 a year would pay a dime more of taxes,” he told Fox News. “We found that about three quarters of again, whatever you want to call them — taxes, fines, penalties — about three quarters of those costs will fall on the backs of those who make less than 120,000 a year. It’s a big punch in the stomach to middle class families.

At a campaign stop in 2008 Obama told supporters heath care should never be purchased “with tax increases on middle class families.

Conservatives are rallying around what will be a four-month fight about taxes and Obama’s broken promise following the Supreme Court ruling upholding Obamacare as a government-imposed tax. President Barack Obama will now have to answer to what Rush Limbaugh called “nothing more than the largest tax increase in the history of the world.”





© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Duncan's Nurses: We Held His Hand When Nobody Else Would

Friday, 24 Oct 2014 23:08 PM

The last people to hold Ebola patient Thomas Eric Duncan's hands to comfort him as he was dying at Dallas' Texas Presbyt . . .

Living Large: The Scandal of Bishops' Residences

Friday, 24 Oct 2014 20:31 PM

Camden, N.J., is one of the poorest cities in the U.S. So it was a shock earlier this year when reports surfaced that Bi . . .

Judge Rules Oklahoma Abortion Law Can Take Effect

Friday, 24 Oct 2014 20:09 PM

A new Oklahoma law that requires clinics to have a physician with admitting privileges at a nearby hospital present when . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved