IRS tax-credit scandal a bad omen for Obamacare

Under Obamacare, the Internal Revenue Service will determine who is eligible for health insurance subsidies, and it will deliver those subsidies, in the form of tax credits, to millions of individual Americans. It's a huge job, and a critical one, involving hundreds of billions of taxpayer dollars. So it should go without saying that the subsidies go only to people who actually qualify for them. But a new scandal within the IRS casts serious doubt on whether that will happen.

The scandal involves a program known as the Earned Income Tax Credit. It is an anti-poverty program in which the government gives low-income workers a tax refund larger than their tax liability. For example, a family with a $1,000 income tax liability might qualify for a credit four times that large, and receive an Earned Income Tax Credit payment of $4,000. Another family with no income tax liability at all might qualify for the same lump-sum payment. Call it a subsidy, a refund, a transfer payment -- in any case, the family receives a check from the feds.

The government sends out between $60 billion and $70 billion a year in Earned Income Tax Credit payments. Now, a new IRS inspector general's report shows that a huge amount of that — anywhere between 21 and 30 percent, depending on the year — has been given out improperly to recipients who do not qualify for the payment. The inspector general estimates that somewhere between $110 billion and $132 billion — billion, not million — has been given away in improper Earned Income Tax Credit payments in the last decade.



http://washingtonexaminer.com/irs-tax-credit-scandal-a-bad-omen-for-obamacare/article/2537760

"...For example, a family with a $1,000 income tax liability might qualify for a credit four times that large, and receive an Earned Income Tax Credit payment of $4,000. Another family with no income tax liability at all might qualify for the same lump-sum payment. Call it a subsidy, a refund, a transfer payment -- in any case, the family receives a check from the feds..."

Some—who could lose such subsidies with ObamaCare—would be screaming on local forums!

Wait...!

Good thing they don't have to pay for those subsidies!

fshnski wrote:Good thing they don't have to pay for those subsidies!

It depends. ObamaCare has very stealthy taxes to pay for "Medical Devices"—which include:

Sport fishing equipment;

Fishing rods and fishing poles;

Electric outboard motors;

Fishing tackle boxes;

Bows, quivers, broadheads, and points;

Arrow shafts;

Coal;

Taxable tires;

Gas guzzler automobiles; and

Vaccines.

DID YOU KNOW THAT A TIRE IS A MEDICAL DEVICE ?






You are really stupid if you believe that the Affordable Care Act is all about
health care. It truly appears to be nothing more than a bill Laden with a
whole lot of taxes that we the people have yet to be aware of.












Please pass this on.
I am still incredulous that this can go on.
Where is our press?
I guess it’s just like Nancy Pelosi said…….






















"We have to pass it to see what is in it" .

Yeah right! What a big joke!