It does not add up

benjamen

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It is interesting to see how much an individual or family can earn in income, yet still be getting money from the government for the Afordable Care Act.
http://finance.yahoo.com/news/not-planning-buy-health-insurance-111054106.html
"If you earn up to 400 percent of the federal poverty level ($45,960 for an individual and $94,200 for a family of four this year) you’ll be eligible for a subsidy, which will come in the form of a tax credit."

The exact number varies depending on which data source you use (note: the census bureau does not provide online data services during the government shutdown):
http://politicalcalculations.blogspot.com/2012/09/whats-your-income-percentile.html
http://en.wikipedia.org/wiki/Household_income_in_the_United_States
http://www.census.gov/hhes/www/cpstables/032012/hhinc/toc.htm

However, they all tell us that approximately 72% of individuals and 77% of families will recieve subsidies to make this program "Affordable". Since the basic idea of these programs is to take money from one party and give it to another, how are you going get enough blood from the remaining 20-25% to pay for all of this on top of all the other obligations we have already accumulated?!
:noevil:
 

ancona

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It's straight out of Cloward Piven my good man, it isn't meant to work, it's meant to collapse the system.
 

pmbug

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Did someone say, "that does not make sense!"?


If FedGov math does not make sense, you must forfit all your wealth in taxes and fees.
 

benjamen

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If you dare refuse to obey Obamacare:
http://www.businessinsider.com/how-much-is-the-obamacare-penalty-tax-2012-7

"So, basically, you're looking at penalties of approximately the following at the following income levels:

Less than $9,500 income = $0
$9,500 - $37,000 income = $695
$50,000 income = $1,000
$75,000 income = $1,600
$100,000 income = $2,250
$125,000 income = $2,900
$150,000 income = $3,500
$175,000 income = $4,100
$200,000 income = $4,700
Over $200,000 = The cost of a "bronze" health-insurance plan
The IRS will collect the penalty-tax, a fact that will no doubt further enrage those who hate Obamacare.

But here's some more good news for those folks:

The IRS will not have the power to charge you criminally or seize your assets if you refuse to pay. The IRS will only have the ability to sue you. And the most the IRS can collect from you if it wins the suit is 2X the amount you owe."
 

Aubuy

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I am trying to figure out how I ended up in Wonderland. It will be cheaper for many to drop their insurance and pay the penalty? :flail:
 

pmbug

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I'll be happy to pay those premiums when my income explodes to cover it. lol. #notgonnahappen
 

benjamen

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How much will you pay?
http://www.parachutehealth.com/obamacare-calculator.html

To match what I currently have : $700 per month
If I make the mistake of having a first child: $900 per month

:flail:
Returning to the original idea of the thread, you can use this calculator to see at what income government aid stops. For my state, I found the following to be the max household income and still receive government aid:

Single and no kids: $37,000
Single with 1 child: $57,000
Single with 2 children: $78,000
Single with 3 children: $94,000
Single with 4 children: $110,000
Single with 5+ children: $120,000
Married and no kids: $62,000
Married with 1 child: $78,000
Married with 2 children: $94,000
Married with 3 children: $110,000
Married with 4 children: $126,000
Married with 5 children: $142,000
Married with 6+ children: $157,000


What is this, 80+ percent of the population?!?
:noevil:

Edit: These numbers are indexed on a 30 year old person. It looks like these numbers go up as you get older.
 
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11C1P

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I think Margret Thatcher put it quite plainly when she said the problem with socialism is you eventually run out of other peoples money.
 
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