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Millions of Obamacare subsidy recipients may need to pay back-taxes

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posted on Jan, 3 2015 @ 04:38 PM
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Look out people who took advantage of those juicy Obama.Care insurance subsidies !!!

According to tax company H&R Block, many of you will now end up owing money back to the IRS.

I bet this was not so publicized as a negative, but people were warning of this recurring trap a few years ago.

And H&R Block is really pouring it on with their advertising.

Get ready to pay. And if you can't pay, you will be garnished by court orders.

Maybe the people who never "signed up" in the first place have the old "one up on ya" now.


Millions of Obamacare subsidy recipients may need to pay back-taxes




The problem for Democrats is not exactly this: “As many as 3.4 million people who received Obamacare subsidies may owe refunds to the federal government, according to an estimate by a tax preparation firm… H&R Block is estimating that as many as half of the 6.8 million people who received insurance premium subsidies under the Affordable Care Act benefited from subsidies that were too large, the Wall Street Journal reported Thursday.” Although it’s definitely going to be a problem: ‘several million people suddenly discovering that they now owe back taxes to the government over Obamacare’ is not exactly a good scenario, especially if you belong to the political party that set that scenario up in the first place. But it’s still not the worst thing for Democrats.







posted on Jan, 3 2015 @ 04:53 PM
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Hmmm...so the Democrats unanimously foisted a bogus program upon American citizens that will result in them paying more $$$ to the IRS?

How unique?!
edit on 3-1-2015 by IAMTAT because: (no reason given)



posted on Jan, 3 2015 @ 04:55 PM
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Maybe people will someday learn...

Nothing is Free.



posted on Jan, 3 2015 @ 04:59 PM
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a reply to: IAMTAT

And are people still under the impression that reps are going to anything about it?

My bet is they either stumble over with reasons why they will not or can not repeal.
Or just do a remove and replace job.

Lobbyist passed this bill, and both sides work for the same ones.



posted on Jan, 3 2015 @ 05:01 PM
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When the government gets involved, things get expensive and messed up.

I think that we need to look at socialized medicine and a whole different agency looking over it. We have one of the most expensive health care systems in the world, and our rate of fixing health issues is very poor. Healthcare should not be a for profit business where the more you go the more that the providers profit.
edit on 3-1-2015 by rickymouse because: (no reason given)



posted on Jan, 3 2015 @ 05:05 PM
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Its almost as much of a shock as the incredibly HIGH DEDUCTIBLES of the ACA. You will go broke before the plans even kick in anything towards your healthcare costs each year.

I can see why they wanted to PASS this Bill before we READ it.
edit on 3-1-2015 by DenyTreason because: (no reason given)



posted on Jan, 3 2015 @ 05:09 PM
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originally posted by: DenyTreason
Its almost as much of a shock as the incredibly HIGH DEDUCTIBLES of the ACA. You will go broke before the plans even kick in anything towards your healthcare costs each year.


And even bankruptcy doesn't erase taxes owed!!




posted on Jan, 3 2015 @ 05:10 PM
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originally posted by: Sremmos80
a reply to: IAMTAT

And are people still under the impression that reps are going to anything about it?

My bet is they either stumble over with reasons why they will not or can not repeal.
Or just do a remove and replace job.

Lobbyist passed this bill, and both sides work for the same ones.


But Obama has to sign legislation.

Congress can do all they want, but Obama still has the last pen.




posted on Jan, 3 2015 @ 05:13 PM
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a reply to: xuenchen

Well I am pretty sure the GOP is going to take the presidency, so that is what I am talking about.
Should have made it more clear, my apologies.



posted on Jan, 3 2015 @ 05:13 PM
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originally posted by: rickymouse
When the government gets involved, things get expensive and messed up.

I think that we need to look at socialized medicine and a whole different agency looking over it. We have one of the most expensive health care systems in the world, and our rate of fixing health issues is very poor. Healthcare should not be a for profit business where the more you go the more that the providers profit.


The current Medicare system seems to generally be funded by payroll tax.

1.45% from paychecks, and 1.45% matched by the employer.

How much would a full Medicare system cost?

Keep in mind that Medicaid would be eliminated as an added "savings" to the total cost.

And remember too that employers would no longer have to pay for insurance policies for employees.

It would be interesting to calculate all the pros and cons to the concept.




posted on Jan, 3 2015 @ 05:18 PM
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a reply to: xuenchen

Ya cause no one else in the world has figured it out.

It needs to be done, it is ridiculous that it isn't.

For the conspiracy aspect of it, ACA hampered the progress towards it as everyone that is against it seems to be stuck on the idea that it is somehow socialized.
I would say that was the plan.



posted on Jan, 3 2015 @ 05:20 PM
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a reply to: xuenchen

That is true. If people wanted extra coverage other than the basics Medicare provides, they could buy their own policy.



posted on Jan, 3 2015 @ 05:25 PM
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originally posted by: rickymouse
a reply to: xuenchen

That is true. If people wanted extra coverage other than the basics Medicare provides, they could buy their own policy.





So in your estimation, what would the tax rate have to be to cover everybody for everything?

1.45% becomes ?.??%



posted on Jan, 3 2015 @ 05:27 PM
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a reply to: Sremmos80

Do you think the administrative work could be handled by existing insurance companies?

And maybe they would make the same profit.

Remember the ACA rule that limits their profits.



posted on Jan, 3 2015 @ 05:28 PM
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a reply to: xuenchen

Do you think the feds will be willing to accept the shirt off of peoples back whom cannot afford their bill?
edit on 3-1-2015 by doompornjunkie because: (no reason given)



posted on Jan, 3 2015 @ 05:34 PM
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originally posted by: doompornjunkie
a reply to: xuenchen

Do you think the feds will be willing to accept the shirt off of peoples back whom cannot afford their bill?


Only if it has an extraordinary value.

Otherwise, cash only.




posted on Jan, 3 2015 @ 05:37 PM
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a reply to: xuenchen

To be specific it's a 2008 Hope & Change shirt I found in a dumpster behind the local DES office.



posted on Jan, 3 2015 @ 05:39 PM
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I can't wait to see the looks on some of the faces of people when they realize this. I hope everyone one of them was pro ACA and now it bites them in the ass.



posted on Jan, 3 2015 @ 05:50 PM
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originally posted by: doompornjunkie
a reply to: xuenchen

To be specific it's a 2008 Hope & Change shirt I found in a dumpster behind the local DES office.


Well the IRS will be charging a fee to recover those things !!!

They will call it a fine for having one. Legal per the tax codes.




posted on Jan, 3 2015 @ 05:55 PM
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Wasn't this supposed to have only been taken from refunds.....and if you owed taxes.....they couldn't make you pay back any excess subside you received?

So, what is the truth here??



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