Quote:The disparity between the "haves" and the "have-nots" has been growing, and it did grow under the Bush Administration, but the point is, it accelerated under the Obama Administration.

 

Consider this.  My income has been pretty steady between 2008 and now, despite changing jobs a couple of times (I am a Government Contractor, so my income depends on which contract I am working on).  I have received periodic cost-of-living raises during that period.  However, my income tax burden has increased in that period.  During that period and thanks to Obamacare, I had to purchase a "compliant policy" rather than what I had in order to avoid being penalized.  That has led to a reduction in my effective take home pay.  Health insurance policies aren't cheap, and because of my income I don't qualify for any subsidies.

 

The strategy of the right includes cutting taxes for people like me, what you call "rich".  If you look at the chart that I linked to in the first post, I am not far from being in the upper 20% of income earners.  As I said before though, I am far from what I would consider "rich" when it comes to income or money.

 

Even if you qualified for the subsidies I'd advise you not to take them. Plenty of people don't know but those subsidies are tax credit advances, if for any reason when the taxes that following year roll around they decided you where given to much of an advance or God forbid you don't really get the tax credit for whatever reason you now OWE that money to the IRS.

 

For example I qualified for a $500 something dollar tax credit towards an insurance premium if we signed up under the ACA. I read all the fine print and it said clear as day, that $500 something dollar subside was a loan from the IRS to be paid back by the tax credit to be determined when I filled the following year. So in other words if I use that $500 a month credit at the end of the year I've "borrowed" $6,000 from the IRS to pay insurance premiums that year. When I file taxes so long as there's a $6000 credit for me I'm good, if for ANY reason there's no $6000 credit I owe them that money.

 

What's to stop them from saying you know those subsidies are going to cost to much this year, we're going to half the tax credit this year. I don't have nearly enough faith in the system to accept any kind of advance on a future tax credit.

 

I'll pay the penalty and wait it out a little longer to see how this all shakes out. A $6000 tax bill would ruin me.

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