- 2,395
No doubt those are those lucky angels that qualify for the freeloader subsidies.
SCOTUS Decision Poll
- Thread starter Yagents
- Start date
No doubt those are those lucky angels that qualify for the freeloader subsidies.
- 4,716
All right boys and girls we can put this one behind us now (yhew) and start making plans for a Bang up, knock it outta the park, 2016 OEP.
♫♪♫ Ratt N' Roll! ♫♪♫
♫♪♫ Ratt N' Roll! ♫♪♫
Are you implying that 46% of the population of the United States are receiving "freeloader subsidies"?
- 10,330
At least 46% (or more) are if you include ACA subsidies and EIC tax credits.
Since a family of 4, making less than 96K is getting subsidies, I really don't think you should call them freeloaders.
- 10,330
If they are receiving free money from the government it is a form of freeloading. They obviously are not living off of the government... but a family making almost $100k should not need government assistance imo. If they do then that is a sign of much larger systemic issues within the country... or a sign that they are living beyond their means... or shouldnt have had those extra 2 children... or all of the above.
About how much would that family get in subsidies?
- 8,448
They're probably paying more $$$ in Federal Taxes than they're receiving in APTCredits anyway. The terminologies that can be used for those on Medicaid are another story...
- 10,330
Well according to Kiasers calculator they would receive around $3600/y if making $94k/y with 4 kids.
At that income with that many kids they would pay around $6k in income taxes. So the ACA cut their tax bill by over half...
Probably looking north of 90% if we count all deductions and credits.
- 10,330
I dont consider a Deduction a true subsidy. It does help reduce your taxes, but not on a dollar for dollar basis. A Credit is a dollar for dollar reduction.
A $5,000 Deduction would result in maybe $300-$600 less in taxes paid depending on effective rate.
A $5,000 Credit is $5,000 less in taxes paid.
There is a big difference between a Deduction and a Credit. And there are very few Credits available to those making over $60k/y. Especially big Credits like the EIC (which is responsible for the majority of tax refunds for middle/low income families).
I believe that everyone should pay income taxes. Not just the wealthy. Some should pay more than others, but everyone should pay something. But between EIC & now ACA a large majority pay no income taxes and are even getting paid (from the gov) to work in many cases. And that is not even touching the issue of welfare & foodstamps.
The current tax system is just a charade. It would be much more efficient to just eliminate taxes entirely for those individuals making under $30k/y or families under $60k. As it is right now it is just a convoluted way to make people feel like they are helping to financially support the country when in reality they are not.
This nation cant afford the path we are on and we are quickly becoming a Greece or Spain like economy. We are already living on 103% credit as a nation, and it is getting worse each year.
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At the end of 2008 we hit 70% debt to gdp (meaning we were putting 70% of our expenses on a credit card).
End of q1 2015 we were at 103%.... so in 7 years it has exploded by 30%... the largest single increase in our nations history.
To put Ocare into perspective, beginning of 2010 we were at 85%. Now it has increased by 18% and healthcare spending is the 2nd largest expense that our taxes pay for.
And lets not forget that we are at historically low interest rates... once they start going up (if they go up), then that ratio will be exacerbated by increased debt payments.
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