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think Obamacare was free

ObamaCare was ruled constitutional Thursday, June 28, 2012. And yes, it’s still difficult to let that fact settle in. But today is the 4th of July. Today is our Independence Day. As you celebrate, remember exactly what Americans all over the country are fighting for.

Thomas Jefferson. Samuel Adams. Benjamin Franklin. John Hancock. These brave Americans had the sheer audacity to declare their independence from King George III. Facing isolation and probable death, they went forward with their plan to declare that they would be their own masters, rather than a single man in a distant capital.

They are rolling over in their graves now and are mad as Hell at “We the People” for letting this happen. Because 236 years ago, these Patriots declared that a long train of abuses committed against them would not be tolerated and would not happen again.

Obamacare is now official, which means that a lot more people in the United States will have health insurance. Sadly, it also means a lot more people will be paying more taxes.

(You didn't think Obamacare was free, did you?)

Here are some of the new taxes you're going to have to pay to pay for Obamacare:

So those are some of the new taxes you'll be paying that will help pay for Obamacare.

Any big ones I've missed?

Note that these taxes are both "progressive" (aimed at rich people) and "regressive" (aimed at the middle class and poor people). The big ones--the 3.8% investment income hike and the Medicare tax increase--only hit you if you're making more than $200,000 a year. The rest hit you no matter how much you're making.

Here's How Much The Obamacare Penalty Tax Will Cost You

Many Americans are furious that Obamacare will require them to buy health insurance.

Most of these folks seem to hate the idea that Obama is forcing them to do something more than they hate the idea of shelling out money.

But for those who also care about the money, here are the details.

The good news is that, for most people, the "penalty tax" for those who choose not to buy health insurance will cost a lot less than health insurance.

As with everything tax-related, there's no simple answer to "How much is the Obamacare penalty tax?" But here are some key points, from

So, basically, you're looking at penalties of approximately the following at the following income levels:

The IRS will collect the penalty-tax, a fact that will no doubt further enrage those who hate Obamacare.

But here's some more good news for those folks:

The IRS will not have the power to charge you criminally or seize your assets if you refuse to pay. The IRS will only have the ability to sue you. And the most the IRS can collect from you if it wins the suit is 2X the amount you owe. So if you want to thumb your nose at the penalty-tax, the IRS won't be able to do as much to you as they could if you refused to pay, say, income tax.

By the way, the following folks will be exempt from the penalty-tax:

"If You Don't Have Healthcare...You're Screwed"