MILLIONS TO OWE OBAMACARE TAX PENALTY

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The penalty is $95, or 1% of income above a certain threshold

NEW YORK (CNNMoney)
Were you uninsured in 2014? It’s time to pay the piper!
Some 3 million to 6 million Americans will have to pay an Obamacare tax penalty for not having health insurance last year, Treasury officials said Wednesday. It’s the first time they have given estimates for how many people will be subject to a fine.

The penalty is $95, or 1% of income above a certain threshold (roughly $20,000 for a couple). So you could end up owing the IRS a lot of money.
Take a married couple with $100,000 in income – their bill comes to $797, according to the Tax Policy Center ACA penalty calculator.
The penalty for remaining uninsured rises to the larger of $325 or 2% of income in 2015.

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As millions of Americans sit down in coming weeks to compile their tax returns, they’ll have to contend with Obamacare’s health insurance mandate for the first time.
Some three-quarters of the nation’s 150 million taxpayers have health insurance through their jobs or government programs and will simply have to check a box on the Form 1040.
Another 15 million to 30 million people will request and be granted an exemption to the mandate by filing Form 8965. Those who aren’t subject to the insurance requirement include undocumented immigrants, low-income Americans and those for whom insurance premiums were more than 8% of their household income.

Finally, between 4.5 million and 7.5 million taxpayers received subsidies for insurance premiums when they signed up for coverage on Obamacare exchanges. They will have to use Form 8962 to reconcile their actual 2014 income with the amount they estimated when they applied for a policy in late 2013 or early 2014.
Those who underestimated their income either will receive smaller tax refunds or will owe the IRS money.
Treasury officials declined to forecast how many people may be in this situation. But H&R Block projects 3.4 million taxpayers will have to pay back part of their premiums.
Of course, those who overestimated their 2014 income may get a healthier-than-expected refund. And some will see no change.

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An open letter to John Boehner and Mitch McConnell

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By Julie Love / 28 January 2015

John, love the tan.

Mitch, I am pretty sure there is a surgery that can fix that.

Listen, guys, it isn’t that hard. Conservatives have a message of personal responsibility and limited government. I know that it doesn’t sound exactly like the democrat message, “free puppies for everyone!” But, surely you can make it sound more palatable than you do.

Here are my tips, and I won’t even charge you (even though I pay you a handsome salary).

If you have a 30 second spot, say this:

“In America, we will always take care of those people who are unable to take care of themselves. However, taxing the rich doesn’t work. Has it worked for the past 6 years? Every additional tax dollar is a dollar that comes out of the pocket of an AMERICAN and goes into the pocket of a WASHINGTON BUREAUCRAT. Is that what you really want? These taxes hurt small businesses, the backbone of our economy, who can’t grow and hire new people.

Mitch-McConnell-BoehnerLowering taxes gets the economy moving (cue emotionally happy music) small businesses can hire more people and provide more goods and services for our economy. When Reagan came into office and slashed Jimmy Carter’s punitive tax rates (see how we are drawing parallels there, boys?) the economy flourished, even government revenues increased.”

Guys, almost all of my friends are liberal. You gotta figure out a way to say this stuff without sounding like, well, you. ALL of my liberal friends that I have talked to are fed up with the president. Even ones that want liberal ideas, like free stuff for poor people, can see that they can’t afford to pay anymore. So, if you get a few more seconds for your soundbite, say this:

“Raising taxes hurts everyone. Can you honestly pay anymore in taxes? We need to stop talking about raising taxes and talk about meaningful tax cuts so that America can get back to work. That helps everyone. In 1996 when we reformed welfare, millions of people found jobs. Propping someone up in comfortable, government-run poverty locks them in. Legislating higher wages hurts the working poor. They not only don’t get a raise, they lose their jobs. Why would you even listen to someone who wants to give you the minimum? This is America! Work hard and you can achieve the maximum! We are not the party that wants people to have the least, we want people to get the most. And, we can do that if we cut taxes, roll back Obama’s job-strangling regulation, get the EPA out of the energy-killing business and repeal Obamacare which has achieved nothing short of destroying the greatest healthcare system the world has ever known.”

When you get ripped apart by the press, channel that “I-am-gracious” smile and keep repeating the same points.

Ok?

Got it?

You can see many more helpful tips on my blog.

Seriously, guys, get out there and sell this.

Sheesh.

Read more at http://eaglerising.com/14393/open-letter-john-boehner-mitch-mcconnell/#Tv4dUkpXX4M5Cpah.99

Obamacare program costs $50,000 in taxpayer money for every American who gets health insurance, says bombshell budget report

It will cost the federal government – taxpayers, that is – $50,000 for every person who gets health insurance under the Obamacare law, the Congressional Budget Office revealed on Monday.
The number comes from figures buried in a 15-page section of the nonpartisan organization’s new ten-year budget outlook.
The best-case scenario described by the CBO would result in ‘between 24 million and 27 million’ fewer Americans being uninsured in 2025, compared to the year before the Affordable Care Act took effect.
Pulling that off will cost Uncle Sam about $1.35 trillion – or $50,000 per head.

The numbers are daunting: It will take $1.993 trillion, a number that looks like $1,993,000,000,000, to provide insurance subsidies to poor and middle-class Americans, and to pay for a massive expansion of Medicaid and CHIP (Children’s Health Insurance Program) costs.
Offsetting that massive outlay will be $643 billion in new taxes, penalties and fees related to the Obamacare law.
That revenue includes quickly escalating penalties – or ‘taxes,’ as the U.S. Supreme Court described them – on people who resist Washington’s command to buy medical insurance.
It also includes income from a controversial medical device tax, which some Republicans predict will be eliminated in the next two years.
If they’re right, Obamacare’s per-person cost would be even higher.
President Barack Obama pledged to members of Congress in 2009, as his signature insurance overhaul law was being hotly debated, that ‘the plan I’m proposing will cost around $900 billion over 10 years.’
It would be a significant discount if the White House could return to that number today.

In that same speech, Obama claimed that there were ‘more than 30 million American citizens who cannot get coverage.’
$900 billion spent on those people would equate to no more than $30,000 each – less than two-thirds of what the CBO now says the program will cost when the dust settles.
The CBO and the Joint Committee on Taxation, a group of members from both houses of Congress, prepared Monday’s report on the overall direction of the federal budget.
They estimated that ‘the net costs of the coverage provisions of the ACA [Affordable Care Act] will rise sharply as the effects of the act phase in from 2015 through 2017.’
Those costs will ‘rise steadily through 2022′ before leveling off for three years, the groups’ economists determined. But even at that point, the Obamacare program will cost the governemnt ‘about $145 billion’ each year.
That number doesn’t include the insurance premiums and out-of-pocket health care costs paid by Americans – only the government’s role in implementing the law and paying for its guarantees.
And the law will still leave ‘between 29 million and 31 million’ nonelderly Americans without medical insurance, says the CBO.

CBO January 2015 Outlook on Obamacare

https://www.scribd.com/embeds/253801993/content?start_page=1&view_mode=scroll&show_recommendations=true

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CBO: Obamacare to cost $2 trillion over the next decade

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BY: Philip Klein

President Obama’s healthcare law will spend about $2 trillion over the next decade on expanding insurance coverage but still leave 31 million Americans uninsured, according to an analysis from the Congressional Budget Office released on Monday.

When Obama pitched the healthcare law to Congress, he said it would cost “around $900 billion” over 10 years. But his statement was misleading because the way the law was designed, the major spending provisions didn’t kick in until 2014. This meant that 10-year estimates at the time the law was passed in 2010 were artificially low, because they included four years (2010 through 2013) in which spending was negligible.

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The new CBO analysis finds that between fiscal years 2016 and 2025, spending on the law’s expansion of Medicaid will cost $920 billion and insurance exchange subsidies will cost nearly $1.1 trillion. The major spending provisions, taken together, will total $1.993 trillion.

Obamacare does include tax increases and Medicare cuts that previous CBO reports have found would offset the new spending, but CBO is no longer providing a full budgetary analysis of the law.

The CBO also said it expected the law’s exchanges to cover 21 million by the end of the 2016 fiscal year and for Medicaid to cover an additional 13 million — gains that it projects will be partially offset by a reduction of 11 million people in employer or other existing coverage.

By 2025, the end of the projection period, the CBO projects that Obamacare will increase insurance coverage by a net of 27 million, while 31 million will remain