This ought to help ♡bamaCare!!!’s approval numbers — H&R Block reports that most subsidy recipients (i.e., middle class folks now on the health insurance dole) had to pay back substantial sums to the IRS:
The tax-prep giant studied its own massive customer base and concluded that two-thirds of its filers who got subsidies from Obamacare were overpaid during the course of the year, and owed money back to the IRS on the April 15 deadline.
They repaid $729 on average, cutting the average refund by about a third.
As I’ve said before, ♡bamaCare!!!’s saving grace is that so few people are stuck with the exchanges. But that’s due to start changing in 2018, as the “Cadillac tax” kicks in, making it cheaper for employers to dump employees onto the exchanges — and into the tender mercies of the IRS.
That aside, put yourself in the position of an ♡bamaCare!!! mandate-customer. You go through the hell of the website, but maybe you find the narrow networks, higher copays and deductibles, and the loss of your old plan and your doctor are all worth it — because of that sweet, sweet subsidy. Flash forward to February, when your guy at H&H Block tells you that the government overpaid you, and as a result your tax refund — which you were planning on using for a little vacation somewhere — just got cut by one third.
The GOP House needs to start holding hearings, bringing in hardworking taxpayers to testify about their treatment by the IRS.