"I was all for Obamacare until I found out I was paying for it." - Anonymous California woman.
Despite a steady stream from the Obama administration promising hope and change to the amount of money Americans will have to subtract from their take home pay, Sarah Hurtubise of the right-of-center news portal The Daily Caller reports on March 29, 2014 that a newly released study makes note that just for medical care via The Affordable Care Act (ACA, popularly known as Obama Care), will actually take a rather sizable chunk out of the paychecks of America's youth.
Citing a report penned by analyst Scott Gottlieb of the American Enterprise Institute (AIE), he claims the average 30-year-old Illinois resident will be dropping 14 percent of their income every month just on their Obama Care premiums.
Keying in on the major states of California, Texas, Pennsylvania and Illinois, Gottlieb cites "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."
Furthermore, Gottlieb further points out that those 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 Obama Care as "brosurance" to American youth lest they hurt themselves going keg stands, Obama has consistently ensured the citizenry that the federalized health care exchange would save "upwards of $2,500" in premiums costs.
AIE released a study early in March, 2014 that costs would do anything but go down.
AIE referenced the Congressional Budget Office (CBO) that "in the nongroup market, that’s an increase of some $2,100 per family."
With the federal government beginning the taxing rate of gross income starting at 10 percent and most states withdrawing at least five, the nation's youth could see upwards of a full third of their monthly income gone before they even see it.
In everyday terms, that equates the average 9-5, Monday through Friday worker will stop earning for themselves only a few hours into the Thursday workday.
With the Supreme Court ruling that Obama Care is in reality a new tax, all earnings from barely into Thursday morning until the close of business Friday is swallowed up by the government.