Working poor families to be big losers under Obamacare

ObamaCare is here to stay and will financially impact everyone.  It will burden business owners and their employees alike.  But who may be hurt the most? is reporting: Using the conditions laid out in the regulations, the IRS calculates that a family earning $120,000 per year that did not buy insurance would need to pay a "penalty" (a word the IRS still uses despite the Supreme Court ruling that it is in fact a "tax") of $2,400 in 2016. The families that are living at or below the 133% poverty level will likely not feel as much pain.  These families, because of their low incomes will already have qualified for state sponsored Medicaid coverage.  They would not be penalized. The higher income families may also not experience as much financial penalty.  These families will probably already have chosen to purchase qualifying insurance and therefore not be subject to the penalty.  This is a big if only because qualifying insurance...(Read Full Post)