An analysis by the Kaiser Family Foundation published Wednesday of a GOP proposal to rework the Affordable Care Acts subsidies into tax credits available to everyone illustrates how the plan, which was leaked last week, would represent a major loss for lower-income people and older Americans. Those higher on the income scale stand to gain under such a plan.

Republican leadership is considering offering refundable tax credits that start at $2,000 annual for individuals under 30 and raise with age, up to $4,000 for those over 60. Unlike the ACA's tax credits, they do not adjust with income, meaning a wealthy person would be getting the same break as a low income American. Obamacare's tax credits end for people making 400 percent of the federal poverty line.

The rate at which the Republican tax credits grow by age is slower that those offered under Obamacare, meaning older people will be bearing a greater burden of their premiums under the GOP plan. Currently, under the ACA, older people can face premiums three times higher than younger people, and Republicans' credits only double in size for those at the oldest end. GOP lawmakers have also proposed expanding the ratio for premiums for young and old people to one to five, which could further exacerbate the hit older people would take under the Republican plan.

Read More →

A report released Tuesday by the left-leaning think tank Center on Budget and Policy Priorities breaks down how Republicans, if they follow the 2015 model of repealing the Affordable Care Act, would spend two-thirds of the money saved by repealing Obamacare's benefits to pay for tax cuts, directed mostly at high-earners.

According to the report, the failed 2015 legislation that congressional leaders have since signaled will be their rubric going forward would produce about $1 trillion in savings over the next decade by dismantling the Medicaid expansion and subsidies for the individual exchanges while also repealing the mandates. However, repealing the taxes that raised revenue for Obamacare -- including the taxes for high earners as well as those on the health care industry -- would cost the government $670 billion in the next decade, leaving about $317 billion left over in savings that lawmakers could use on a hypothetical replacement.

Read More →

A new analysis by the nonpartisan Tax Policy Center breaks down who would benefit most and least from the tax cuts that would come with Obamacare repeal, assuming Republicans follow the model of their 2015 repeal legislation. It found that those in the top quintile would see their after-tax income rise by 0.8 percent due to the various cuts in the law, while those on the lower end of the earning scale would see their after-tax income decrease, mainly because of the loss of the law's tax credits to subsidize buying insurance.

As the TPC explains, the multiple moving parts of an Obamacare repeal affect taxpayers in different ways and the variation is wide even within each income group. The ACA tax credits play a major role in determining the losers, but even if they are excluded from consideration, those on the bottom and the middle benefit from the tax cuts far less than those on the top.

For instance, a vast majority (94 percent) of middle-income households (making between $52,000 and $89,000) do see a small tax cut that averages around $110, but three percent of middle-income earners would see a massive tax hike, averaging $6,200, because of the elimination of the tax credits for insurance plans purchased through the individual exchanges.

Read More →

Only 11 percent of Donald Trump supporters said they were "very confident" that votes across the country will be counted accurately in the upcoming election, according to a new Pew survey, while half of his backers say they are "not too confident" or "not at all confident" that those votes will be counted correctly.

The findings, released Friday, come after weeks of Trump comments in campaign speeches and in interviews that if he lost to Hillary Clinton it would be because the election was "rigged."

Read More →

The United States continues to experience a drop in the number of Mexican immigrants seeking the American dream.

The Pew Research Center estimates that 1 million Mexican immigrants have departed the U.S. since the great recession began in 2009. Meanwhile, only 870,000 immigrants have left their homes in Mexico to reside in the United States during that same time period.

Experts believe that a bolster in border security as well as the United States' economic rocky recovery has made the it less of a magnet for Mexican immigrants.

LiveWire