Taxpayers fork over $1.5 billion in Obamacare penalties
Tuesday, July 21, 2015 | Tag Cloud Tags: Internal Revenue Service, News, Worthy News | Learn about our FREE SYNDICATION Service | Sign up for our Worthy Briefs!
(Worthy News) – Obamacare’s individual mandate generated about $1.5 billion from about 7.5 million people during its first year in existence, the Washington Examiner.
That figure is about 1 million more than previously estimated would pay the mandate penalty for not getting health insurance in 2014.
The Internal Revenue Service offered details on the penalties in a letter to Congress Friday.
Under the individual mandate, if taxpayers didn’t have health insurance in 2014, they would have to pay 1 percent of their yearly incomes, or $95 per person plus nearly $50 per child. [ Source ]
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