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Thread: Obamacare Subsidies

  1. #51
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    Re: Obamacare Subsidies

    Quote Originally Posted by mac View Post
    How do you not know? At the end of the year, you get a little piece of paper that tells you how much you made that year. Have you never had a job?
    You're falling all over yourself in a rush to be a smart aleck.

    Go read the entire conversation between cpwill and myself.
    “Now it is not good for the Christian’s health to hustle the Aryan brown,
    For the Christian riles, and the Aryan smiles and he weareth the Christian down;
    And the end of the fight is a tombstone white with the name of the late deceased,
    And the epitaph drear: “A Fool lies here who tried to hustle the East.”

  2. #52
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    Re: Obamacare Subsidies

    Quote Originally Posted by soot View Post
    You're falling all over yourself in a rush to be a smart aleck.

    Go read the entire conversation between cpwill and myself.
    That doesn't help your case. Why would it be calculated any different then any other tax break? Because they're spinning it as a subsidy?
    ”People willing to trade their freedom for temporary security deserve neither and will lose both.” --- Ben Franklin

    Quote Originally Posted by The German View Post
    Sterotypes are mostly based on truths.

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    Re: Obamacare Subsidies

    Quote Originally Posted by mac View Post
    That doesn't help your case. Why would it be calculated any different then any other tax break? Because they're spinning it as a subsidy?
    most tax breaks I know of are calculated on previous year. EITC, for example.

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    Re: Obamacare Subsidies

    Quote Originally Posted by mac View Post
    It's an income tax break designed to offset the cost of the premiums. You pay the premiums for 12 months and get some of it back in your tax return. So, basically, you suck it up 12 months a year.
    That would expose people to how much their plans actually cost, push our low-income people deeply into debt, and basically leave Democrats going in to 2014 election facing not so much a head wind as a head tsunami. I can't offhand think of a single modification of the ACA's structure that would be more likely to cost Democrats the Senate. I really have a hard time believing that they could be that stupid.

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    Re: Obamacare Subsidies

    Quote Originally Posted by apdst View Post
    That's great...until someone figures out how to write off the penalty.
    The penalty wont apply to very many people in the first place, so I wouldn't worry about it. This "mandate" that is "forcing" you to buy a product is actually pretty toothless.
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: Obamacare Subsidies

    Quote Originally Posted by cpwill View Post
    most tax breaks I know of are calculated on previous year. EITC, for example.
    I am not sure, but I have heard that the tax breaks are subject to revision if your income changed during the year.

  7. #57
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    Re: Obamacare Subsidies

    Quote Originally Posted by cpwill View Post
    most tax breaks I know of are calculated on previous year. EITC, for example.
    No, they're calculated on present year. You have a kid this year you claim it on the taxes. You install energy efficient stuff, you claim it this year. Remember, your claim follows the year in question. So, perhaps that is what is making you think of it as last year. The claim you will be filling for next time is 2013, for things that occurred in 2013, and income you received in 2013....and the return is your 2013 taxes.
    ”People willing to trade their freedom for temporary security deserve neither and will lose both.” --- Ben Franklin

    Quote Originally Posted by The German View Post
    Sterotypes are mostly based on truths.

  8. #58
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    Re: Obamacare Subsidies

    Quote Originally Posted by jimbo View Post
    I am not sure, but I have heard that the tax breaks are subject to revision if your income changed during the year.
    How would that information be captured? If your income goes down for whatever reason and now you rate a subsidy, but enrollment is over... do they even have a plan for that?

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    Re: Obamacare Subsidies

    Quote Originally Posted by cpwill View Post
    That would expose people to how much their plans actually cost, push our low-income people deeply into debt, and basically leave Democrats going in to 2014 election facing not so much a head wind as a head tsunami. I can't offhand think of a single modification of the ACA's structure that would be more likely to cost Democrats the Senate. I really have a hard time believing that they could be that stupid.
    That's why they are calling it a subsidy instead of a tax break. By the time people that don't understand realize what happened....it will be to late.

    I'm absolutely certain the majority of Obamacare fans think they're getting a check in the mail every month to pay their HC premiums.
    ”People willing to trade their freedom for temporary security deserve neither and will lose both.” --- Ben Franklin

    Quote Originally Posted by The German View Post
    Sterotypes are mostly based on truths.

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    Re: Obamacare Subsidies

    Quote Originally Posted by mac View Post
    No, they're calculated on present year. You have a kid this year you claim it on the taxes.
    Incorrect. For example, when I pay taxes in April of 2014 for the year of 2013, I will claim the kid that was born in 2013. I was not able to claim her during the year to get back a prorated piece for the taxes I paid in April of 2013, I have to wait and then get the money when I put in the information from the previous year.

    You install energy efficient stuff, you claim it this year. Remember, your claim follows the year in question. So, perhaps that is what is making you think of it as last year. The claim you will be filling for next time is 2013, for things that occurred in 2013, and income you received in 2013....and the return is your 2013 taxes.
    Same-Same for all this. All this is post-year data. You can't claim it until the year is over.

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