WSJ Economist: Obamacare Costs Will Fall on Middle Class

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.”