the fed irs should keep their refunds till all over-payments are paid back
Posted on 02/07/2018 5:46:32 PM PST by jazusamo
The IRS overpaid nearly $3.5 billion in Obamacare tax credits last year that it cannot recoup because of constraints built into the program, frustrating Republicans who have failed to repeal the health care law but say that money could have been spent on programs for veterans or infrastructure.
A Treasury watchdog said the government paid out roughly $24 billion in Obamacare subsidies in the heart of the 2017 tax-filing season, with $5.8 billion in overages. Of that, just $2.3 billion was clawed back, leaving $3.5 billion in outstanding excess payments.
“The overpayments were that much?” said Rep. Phil Roe, Tennessee Republican.
He said he is trying to expand an assistance program for older veterans and their caregivers. “I can think of a lot of things I can use $3.5 billion dollars for,” he said.
Most Obamacare exchange customers receive taxpayer-funded subsidies to help cover their premiums.
The amount they receive is based on their expected earnings. At the end of the year, they are supposed to reconcile what they anticipated with what they actually earned. Because some received higher incomes — through raises, promotions or better jobs — they have to repay the IRS.
But authors of the 2010 law were afraid that the threat of a big tax bill would discourage people from buying Obamacare coverage altogether, so they set limits on the amount of money the government could claw back.
Those limits have been tweaked over the years because Congress feared it was giving away unearned money.
The $3.5 billion figure told lawmakers that they are still leaving a lot of money on the table. The 2017 figure is more than five times the number from 2015, which was the first tax year after Obamacare was fully operational.
(Excerpt) Read more at washingtontimes.com ...
Oh they’ll recoup it alright. Just do more audits and scare people into believing they owe more than they really do.
The IRS is a criminal organization. FU IRS!
Why don’t they just confiscate people’s refunds if they are getting them?
That's a very nice down payment on our wall!
WTH???
This is outrageous. First I've ever heard of this. God Damned government.
Obama was a real Robbin’ Hood. He couldn’t spread our money around fast enough to favored friends and causes.
the fed irs should keep their refunds till all over-payments are paid back
Yes it is and it’ll continue if the limits on subsidy caps aren’t lowered, what a mess.
And somehow I’m paying through the nose for exceedingly inferior health insurance.
To how many people?
Or they could have just not taken it from us in the first place.
Make bed, sleep in bed.
Support Free Republic, Folks!
The founders said he could not be President.
BOTH parties colluded to make the KLenyanesian Usurpation happen.
It is the culpability of the GOP that has made Obama untouchable.
Are you a Birther, too?
Back in 2010 the number of “uninsured” was about 50 million. $24 billion comes to about $500 per person. So the huge upheaval in health insurance and medical care is for $500!?
(I know - it is about government controlling one of the major slices of pie of our economy).
And - if it is only $500 per person a YEAR - how come my insurance is up by $2,100 per MONTH since 2010!? (I know that one too. ‘Cuz I’m a sucker.)
“Birtherism” is the greatest Alinsky ever perpetrated. Those who use the term assist in the denigration of the Constitution.
They have gotten the American people to reject one of the most valuable safeguards bequeathed to us by the founders.
The natural born citizen clause served us well until we ignored it.
Barry Soetoro/Barack Hussein Obama should be proof enough of the wisdom of the founders when they tried to prevent him from being President by requiring someone who could only be a US citizen and nothing else.
Born here of citizen parents.
Naturally a US citizen because there is no other possibility.
One cannot be anything else and also be a natural born citizen.
It does not matter if he was born in Hawaii if his father was a foreign national.
Children of foreign nationals inherit the nationality of their foreign national parent(s).
People born with multiple nationalities are naturally not natural born citizens.
No foreign birth.
No foreign parent(s)
No foreign citizenship(s)
No foreign influence on the Presidency is what John Jay stated in a letter to George Washington as the reason for insisting on a natural born citizen.
Obama told us he was born a British subject.
Who believes Washington, Jefferson, Adams, Jay, Monroe, Madison, etc. would have found him to be a natural born citizen?
Who believes they would have thought the recently deceased King of Thailand was eligible to be President?
He was born in Cambridge MA.
Usurpation Day, January 20, 2009, happened with the complete cooperation of both parties.
They want the Constitution changed without the hassle of amending the Constitution.
Confuse people about the clear meaning of a three word phrase and voila, every anchor baby and Winston Churchill is eligible.
The bench was the reason the GOP went along with the fig leaf resolution for McCain that was used by the Democrats as cover for Obama.
Jindal, Rubio, Haley, George P. Bush and Cruz were all up and comers and the future of the party and ineligible.
The truth of the Kenyanesian Usurpation will never see the light of day because both parties cooperated in the violation of the Constitution
Whoa... I too believe the Founders had it right.
Wherever Obama was born, or of whom, in the ways that count, he ain’t from around here. He’s definitely not on our home team, and is an agent of destruction.
But, while the Founders had the right intention, how could they have anticipated today’s mobility? Even if Obama was born here, he grew up somewhere else, with a foreigner’s allegiances.
I’m so happy that we have money to burn!!!!-Sarc
That was just a “THANK YOU” gift from Obama and the dems!
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