Paying More And Buying Less: The Story Of Obamacare

Daily Cailer ^ | July 17, 2015 | By David J.Herbert

[Pearls Before Swine]

Also, at the start of 2017 Obamacare's risk programs--mechanisms that compensate insurers who experience greater-than-expected costs--will expire. This could result in huge rate hikes...

If there's a Republican administration, it will be blamed for running the program badly when this occurs. Sooooo predictable.

[Yosemitest]

Link to your PROOF.
Reagan's mistake was TRUSTING DemocRATS
DemocrRATS BROKE their promise to cut $2.00 of spending for every $1.00 of tax increases.
NEVER TRUST A DemocRAT !

[Yosemitest]

Also, Reagan was NOT President in 1993.

[HiTech RedNeck]

So sorry, wrong decade

[Brad from Tennessee]

[If there's a Republican administration, it will be blamed for running the program badly when this occurs. Sooooo predictable.]

When Obamacare was passed and signed Democrats had overwhelming majorities in both houses. They anticipated a Democrat Congress just extending this “risk corridor” and making it a permanent corporate welfare program for insurers. In the last few months the White House has talked about an extension but Congress likely won't do it.

[HiTech RedNeck]

I may get a fact wrong from time to time... but you are the one with the complex of childish imaginations about what describes America in the bible, and no it is not ancient Israel.

[LegendHasIt]

Not only that, but NONE of the bills are even itemized. Just a “Pay this amount now”...

I’ve demanded detailed, itemized bills from all of them before I send them any money, and any medical records generated, but so far, they refuse.

[gleeaikin]

Here is a link that clarifies the questions on who taxed who. See Questions 3 and 4 and answers:

http://www.ssa.gov/history/InternetMyths2.html

The 1983 provision passed in the Reagan Administration was to tax 50% of the income above the $25 and $32 thousand deductions.

The provision passed in the Clinton Administration was to raise the income taxed up to 85%. There was no increase in the allowed deductions. Thus I realized in the early 2000s that suddenly I was paying taxes on SS when my relative income had only increased based on general inflation of earnings and benefits. However as I said before, no inflation increase has been applied to the deductions for 32 years. It is really hurting lower middle income retired people both Republican and Democrat and should be changed by raising the deduction for inflation, and financed by restoring the 90% wage cap.

[Yosemitest]

Thanks for the link.
But to clarify your comment:

"The 1983 provision passed in the Reagan Administration was to tax 50% of the income above the $25 and $32 thousand deductions."

Let's make it clear that BECAUSE OF THE CHANGE to the LAW in 1984,

the tax was applied to income
ABOVE $25,000 for a single taxpayer,
and ABOVE $32,000 for a married couple filing jointly,
and $0.00 for married taxpayers filing separately.

Here's the details of that law:

SOCIAL SECURITY AMENDMENTS OF 1983,
H.R. 1900/P.L. 98-21
(Enacted April 20, 1983)

...

TAX TREATMENT

Taxation of Social Security and Railroad Retirement Tier 1 Benefits

Beginning in 1984, includes in taxable income up to one-half of Social Security (and railroad retirement tier 1) benefits received by taxpayers whose incomes exceed certain base amounts.
The base amounts are
$25,000 for a single taxpayer,
$32,000 for married taxpayers filing jointly
and zero for married taxpayers filing separately.
Income for purposes of figuring these base amounts includes
adjusted gross income under prior law,
plus nontaxable interest income,
and one-half of Social Security
and railroad retirement tier 1 benefits.
The amount of benefits that could be included in taxable income will be the lesser of
one-half of benefits
or one-half of the excess of the taxpayers' combined income (AGI + one-half of benefits) over the base amount.
The provision for including nontaxable interest income is intended to provide similar tax treatment of benefits received by individuals
whose total incomes consist of different mixes of taxable and nontaxable income
and to limit opportunities for manipulation of tax liability on benefits.

Includes in the definition of Social Security benefits for tax purposes
workmen's compensation benefits
to the extent they cause a reduction in Social Security
and railroad retirement tier 1 disability benefits.
This provision is intended to assure that these social insurance benefits, which are paid in lieu of Social Security payments, are treated similarly for purposes of taxation.

...

The provision is estimated to affect about 10 percent of Social Security beneficiaries in 1984.
...

Income Tax Credit for Elderly and Disability Income Exclusion

Credit for the Elderly -- Provides that individuals age 65 or over,
or under 65 if they retired with a permanent and total disability
and have disability income from a public or private employer on account of that disability,
are eligible for a credit equal to 15 percent of a base amount.
For individuals under age 65, the initial amount is limited to the amount of their disability income.

Disability Income Exclusion -- Repeals the disability income exclusion.
Affected individuals are made eligible for the credit for elderly and disabled persons to the extent of disability income (see above).
Under prior law, amounts received under an employer's disability income plan generally were includible in gross income to the extent attributable to employer contributions.
However, permanently and totally disabled individuals who retired on disability and were under age 65 could exclude such income within certain limits.

This provision applies to taxable years beginning after December 31, 1983 and has no effect on Social Security program costs.

So let's remember "The provision was estimated to affect about 10 percent of Social Security beneficiaries in 1984. "

Now remember WHAT the Medium Household Income was in 1984.
It was $20,712 (adjusted for inflation today is about $47,181).

And what has happened to the Medium Household Income adjusted for inflation today under the ILLEGAL ALIEN IN CHIEF ?

It has decreased from $53,285 in 2009, down to $51,017 in 2012.