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To: Oldeconomybuyer

What a ****ing disaster this is...

A pox on every single person who voted that stain and his communist ideology into office.


5 posted on 05/31/2014 5:53:33 AM PDT by ScottinVA (Obama is so far in over his head, even his ears are beneath the water level.)
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To: ScottinVA
And then there's possibly THIS for those that happily accepted the subsidy (tax credits) ... surprise! when that bill comes from the IRS ... and by the way, they can go after more than your refund to collect:

Are ObamaCare's Tax Credits Harmless? The Little Understood Dark Side Of The Subsidies

Republicans have by and large ignored the tax credit issue unless talking about the budget implications. Perhaps the silence is due to the fact that Congress has voted to change ObamaCare twice to increase the financial risk that families could face when they take the credit.

Since the enactment of ACA, these limits have been amended twice: first under the Medicare and Medicaid Extenders Act of 2010 (P.L. 111-309), and then under the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayment Act of 2011 (P.L. 112-9). Congress changed the payback protection to vanish at the 400% poverty level and increased the payback amounts at 200% and 300% FPL from what they had been before.

The result will be surprise bills from the IRS in the mail come tax time 2015, in the order of a couple hundred dollars all the way up to full value of any subsidy received if a family crosses the 400% FPL threshold. (This could be $10,000-$12,000 for a family of four, as an example.) Just a few dollars of extra income could result in thousands of back taxes to be paid.

22 posted on 05/31/2014 6:50:47 AM PDT by Qiviut (Obama: A Caesar at home & a Chamberlain abroad, dividing the country & uniting the world against us.)
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