Thursday, March 26, 2015

Obamacare Subsidy Claw-back Ahead

ObamaCare's Nasty Tax Surprise
 
The April 15th deadline for filing your income tax returns is swiftly approaching.  And, millions of Americans are in for a nasty surprise, all thanks to ObamaCare:
 
Half of all households that received ObamaCare tax credits last year will likely owe money to the federal government, a new study found.
 
Nearly all families that received tax credits will either owe money or receive extra money because their tax filings had changed after they calculated their
ObamaCare subsidies, according to a new report by the Kaiser Family Foundation.
 
Only 4 percent of households received the correct subsidy, according to the report, which uses data from the national Survey of Income and Program
Participation.
 
This tax season also marks the debut of the ObamaCare tax penalty for people who have failed to purchase health insurance as mandated under the law. The U.S.
Treasury predicts that about 6 million Americans will end up owing the tax penalty.
 
The tax penalty, the botched subsidies, and the spikes people have seen in the cost of their health insurance premiums are just a few of the ways that
ObamaCare has managed to surgically separate people from their hard earned money.
 
What needs to be done is clear: We need to repeal ObamaCare to stop the harm that it is causing to the country, and we need to replace it with market-based
reforms that make heath care both accessible and affordable.
 
That's why IWV has launched our newest initiative - A Bridge to Better Health Care. Working with policy experts, Members of Congress, and individuals at the
grassroots level, IWV's new project is building a broad coalition supporting an actionable repeal and a replacement plan that can be implemented with the inauguration of a new president in 2017.
 
You can learn more about our new project at www.ABridgeToBetter.com.
 
Source: Carrie Lukas, VP for Policy & Economics Independent Women's Voice
                               
 

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