Obamacare, keeping the poor in poverty
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29-07-2015, 01:47 AM
Obamacare, keeping the poor in poverty
A couple of days ago, I was chatting with a friend who has his own janitorial company. Its a small company....basically himself and couple of family members. He sure like his Obamacare. He likes it so much that he made it a point to tell me that he was working with his accountant to keep his gross income below X amount of $ in order to keep his Obamacare subsidy.

I asked him how he will ever get ahead if government programs that he depends on create incentives for him not improve and grow his business? He didn't have an answer. Does anyone here have an answer?
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29-07-2015, 01:53 AM
RE: Obamacare, keeping the poor in poverty
Ayn Rand, paging Ayn Rand to this thread, stat!
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29-07-2015, 02:05 AM
RE: Obamacare, keeping the poor in poverty
(29-07-2015 01:53 AM)Thumpalumpacus Wrote:  Ayn Rand, paging Ayn Rand to this thread, stat!

Not an answer.
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29-07-2015, 02:15 AM
RE: Obamacare, keeping the poor in poverty
My guess is that this conversation never happened and you just wanted to make a point about something.
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29-07-2015, 02:21 AM
RE: Obamacare, keeping the poor in poverty
(29-07-2015 02:15 AM)earmuffs Wrote:  My guess is that this conversation never happened and you just wanted to make a point about something.

Your guess is wrong. This was an actual conversation. Obamacare, as far as I can tell, incentives poverty. The point of this thread is to see if someone can come up with a good argument that shows my conclusion is wrong.
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29-07-2015, 03:48 AM
RE: Obamacare, keeping the poor in poverty
(29-07-2015 01:47 AM)Heywood Jahblome Wrote:  he was working with his accountant to keep his gross income below X amount of $ in order to keep his Obamacare subsidy.

It's pretty easy to not show a profit if you know what you're doing accounting-wise AFAIK. There's all kinds of ways to have money not showing up as income which a good accountant will be able to advise him on. For example, one easy way that I would look into if I was him, is to only pay himself a small salary and leave the rest of the money with the company. Since it's his company, it's still his money, but voila, no big gross income to move him up a tax bracket.

We'll love you just the way you are
If you're perfect -- Alanis Morissette
(06-02-2014 03:47 PM)Momsurroundedbyboys Wrote:  And I'm giving myself a conclusion again from all the facepalming.
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29-07-2015, 03:54 AM
RE: Obamacare, keeping the poor in poverty
Based on the manner of which you use the language in a manner that doesn't even reflect real usage, I'd find it more likely Muffs has a strong point. It shows either you or this friend has a misunderstanding if they go around with the principal point saying, his obamacare.

"Allow there to be a spectrum in all that you see" - Neil Degrasse Tyson
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29-07-2015, 04:03 AM
RE: Obamacare, keeping the poor in poverty
(29-07-2015 03:48 AM)morondog Wrote:  
(29-07-2015 01:47 AM)Heywood Jahblome Wrote:  he was working with his accountant to keep his gross income below X amount of $ in order to keep his Obamacare subsidy.

It's pretty easy to not show a profit if you know what you're doing accounting-wise AFAIK. There's all kinds of ways to have money not showing up as income which a good accountant will be able to advise him on. For example, one easy way that I would look into if I was him, is to only pay himself a small salary and leave the rest of the money with the company. Since it's his company, it's still his money, but voila, no big gross income to move him up a tax bracket.

You're suggesting my friend hide his income from the government? Do you get upset when GE doesn't have to pay any taxes because they do the same thing?
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29-07-2015, 04:10 AM
RE: Obamacare, keeping the poor in poverty
(29-07-2015 03:54 AM)ClydeLee Wrote:  Based on the manner of which you use the language in a manner that doesn't even reflect real usage, I'd find it more likely Muffs has a strong point. It shows either you or this friend has a misunderstanding if they go around with the principal point saying, his obamacare.

Obamacare is just a word that references something. He uses it, I use it. Using the same word to reference the same thing facilitates communication between my friend and myself. He was quit clear to me. He was communicating to me that he was actively taking steps to ensure his income stayed below a certain amount in order to keep the subsidy.

Muffs made no point. Instead he tried to obfuscate by making an accusation he cannot credibly make and hopes that no one notices.
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29-07-2015, 05:08 AM
RE: Obamacare, keeping the poor in poverty
(29-07-2015 04:03 AM)Heywood Jahblome Wrote:  
(29-07-2015 03:48 AM)morondog Wrote:  It's pretty easy to not show a profit if you know what you're doing accounting-wise AFAIK. There's all kinds of ways to have money not showing up as income which a good accountant will be able to advise him on. For example, one easy way that I would look into if I was him, is to only pay himself a small salary and leave the rest of the money with the company. Since it's his company, it's still his money, but voila, no big gross income to move him up a tax bracket.

You're suggesting my friend hide his income from the government? Do you get upset when GE doesn't have to pay any taxes because they do the same thing?

No. Accountants just know where to claim legal tax benefits etc. If it's legal and you have a problem with it then you change the law.

We'll love you just the way you are
If you're perfect -- Alanis Morissette
(06-02-2014 03:47 PM)Momsurroundedbyboys Wrote:  And I'm giving myself a conclusion again from all the facepalming.
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