Average families—those with two children—could owe over $11,000 to the IRS thanks to Obamacare.
Just remember, no matter what problems the Republicans have, Obamacare was voted into law by Democrats and only by Democrats. As we approach “Tax day” we are getting more and more information about what the so-called Affordable Care Act is going to do to families. As the information or inferences have trickled out we have tried to report about them to you. Thus:
- Obamacare Subsidies Are Going to Hurt Half the Recipients
- Obamacare: IRS Fining Millions of Americans for 2014
So here is another bombshell, reported by the Daily Caller: “Tax Day Shocker: Obamacare ‘Clawback’ To Hit Some Subsidy Recipients with Huge Tax Bill.”
A new study has come out to try to get more precise about what kind of damage is going to be inflicted on the American public.
Four in ten low-income Obamacare participants will face sticker shock this April 15 when they discover they owe a great deal of money to the IRS because of a little-known “clawback” provision in the health-care law.
A family of four could owe the government as much as $11,200, according to a 2013 prediction by researchers at the University of California, Berkeley.
Republicans are being handed a gift here. Will they take it or will they try to help the Democrats out?
The Affordable Care Act is one hundred percent a creation of the Democrats. No Republican voted for it. If the Supreme Court does the right thing, it is quite possible the subsidies could be outlawed for those using the Federal exchange and a huge summer legislative battle ensues. A shocking financial blow in April will hopefully not be forgotten by then.
Are Senate and Congressional Republicans willing to fight for freedom on this one, in defiance of the big insurance companies?
I wish I could be confident about the answer to that question.
It is worth pointing out that the UC, Berkeley study is solidly in favor of Obamacare. The researchers are pointing out the impending financial disaster because they are worried that the law will fall further into disfavor. The financial looting will harden those already opposed to Obamacare and probably even turn some supporters against it.
Authors of the groundbreaking UC study, written by supporters of the health-care law, warned the repayment feature could kill future support for Obamacare.
“Repayment requirements could lead to public dissatisfaction with the exchanges. And if there is much media attention to the need for repayments, some people could be dissuaded from participating in the exchanges,” they cautioned.
[W]orkers who receive income that’s 100 percent to 400 percent of the federal poverty line could face difficult repayments ranging from $600 to $2,500.
The California researchers admitted even a $2,500 repayment could be devastating to a couple.
“A repayment requirement of $2,500 could be a financial shock to a family of two earning $50,000 a year,” they stated.
We have an opportunity here to really fight against Obamacare and to deliver an even bigger defeat to the Democrats in 2016. I hope Republicans make the most of it.