Obama Describes The Individual Mandate As A Tax
During a speech Friday in Roanoke, Virginia President Obama departed from his previous use of the word "penalty" to describe the individual mandate, describing it instead as a tax. "By the way, if you’ve got health insurance, you’re not getting hit by a tax," President Obama said. "The only thing that’s happening to you is that you now have more security because insurance companies can’t drop you when you get sick.”
Mitt Romney Praised ObamaCare Mandate, Exchanges, Portability In 2010
Mitt Romney yesterday said in an interview with CBS News that the individual mandate was a tax, while the plan he put in place in Massachusetts was a penalty, and not a tax. In a video from April 2010, Mitt Romney praised some similarities between his plan and President Obama's. Romney said he liked the individual mandate, the portability of the insurance, the requirement that insurers cover people with a preexisting condition, and the similar exchanges. Romney said his plan was different because it was state plan and his plan did not raise taxes, and did not cut Medicare. (As a Governor, Romney had no authority to cut Medicare.)
The Cost Of Severing The Mandate
The insurance industry lobby — which has a dog in this fight, as it benefits from people being compelled to buy its product — put together this chart showing different estimates of the policy cost of ObamaCare without a mandate. It would, by these estimates, be an expensive, ineffective mess.