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Starting on page 167 of H.R. 3200 - one of the main health care reform bills circulating in Congress:
18 ‘‘SEC. 59B. TAX ON INDIVIDUALS WITHOUT ACCEPTABLE
19 HEALTH CARE COVERAGE.
20 ‘‘(a) TAX IMPOSED.—In the case of any individual
21 who does not meet the requirements of subsection (d) at
22 any time during the taxable year, there is hereby imposed
23 a tax equal to 2.5 percent of the excess of—
1 ‘‘(1) the taxpayer’s modified adjusted gross in
2 come for the taxable year, over
3 ‘‘(2) the amount of gross income specified in
4 section 6012(a)(1) with respect to the taxpayer.
Americans without government-deemed-acceptable health insurance will face a 2.5 percent income tax up to the national average price for a health insurance premium. This is commonly known as an Individual Mandate.
Over 17 million Americans earn over $50,000 per year and do not have health insurance. Many of them do not want insurance but can afford it. Those Americans will face higher taxes or have to purchase insurance, even if they do not want it.