Saw this coming, everybody should have!

[dwsmithjr]

So, basically, if you make more money, you pay higher taxes and any refund you may have expected based on your lower income will be lower or you will not get a refund at all.

Or, if you were getting a tax credit based on your income and your income goes up, you probably will no longer qualify for the tax credit and therefore you will pay more tax and get a smaller refund or no refund at all.

How is this news? Why would this be a surprise to anyone?

[DrHenley]

Originally Posted by dwsmithjr

How is this news? Why would this be a surprise to anyone?

Let me break it down for you...

• Obamacare raised the cost of insurance for nearly eveyone.
• To offset the cost of insurance they have subsidies to make it look like it's not as expensive as it really is.
• So now instead of having affordable insurance, you have prohibitively costly insurance that is paid for by the taxpayers.
• But because it is paid for by the taxpayers there are a labyrinth of regulations you have to abide by that almost nobody completely understands.
• Some people, because of how much they were making when they APPLIED for Obamacare, were given a subsidy to make them believe that they have cheap insurance.
• But because they could not see the future, they didn't realize that they DON'T actually qualify because of how much money they will make in the FUTURE.
• So the "CHEAP" Obamacare insurance they THOUGHT they were getting is really *EXPENSIVE* because they will have to pay for it themselves - RETROACTIVELY.

[milkmanjoe]

To me there are two problems here...... A poorly written law that is incomprehensible due to its volume.

Poor financial planning on peoples' parts. Really, it should be a very small part of the population who sees such a windfall that it screws them. I project income three years in advance, always come up short. But I try to do better.