Tips for making money from Obamacare (until it goes bankrupt)

[tac]

Tips for making money from Obamacare (until it goes bankrupt)

by David Gibberman
Attorney

Because it looks like we’re stuck with Obamacare (unless Chief Justice Roberts grows tired of media adulation before other constitutional challenges to the law reach the Supreme Court), here are some tips to help you make money from the law:

If you’re like most people, you’ll be able to qualify for generous subsidies from the federal government to purchase health insurance. The federal government will pay up to 100% of the cost of health insurance for individuals whose household income does not exceed four times the federal poverty level. Last year, four times the federal poverty level was $44,680 for an individual and $92,200 ($115,280 in Alaska) for a family of four.

read the rest here

I hope this helps someone.

[Teri]

Tips for making money from Obamacare (until it goes bankrupt)

by David Gibberman
Attorney

Because it looks like we’re stuck with Obamacare (unless Chief Justice Roberts grows tired of media adulation before other constitutional challenges to the law reach the Supreme Court), here are some tips to help you make money from the law:

If you’re like most people, you’ll be able to qualify for generous subsidies from the federal government to purchase health insurance. The federal government will pay up to 100% of the cost of health insurance for individuals whose household income does not exceed four times the federal poverty level. Last year, four times the federal poverty level was $44,680 for an individual and $92,200 ($115,280 in Alaska) for a family of four.

read the rest here

I hope this helps someone.

Great post tac.  Unfortunately...I won't qualify, but I'm sure this will help others who didn't know about it.  

Everyone is going to have to go into survival mode now that our paychecks are under attack.  Might as well get what you can to cushion the effects of what's coming.  

Food prices have sky rocketed here in the Northeast.  A friggin loaf of plain white bread...the average price is now almost 3.00 a loaf and milk has gone up.  

Has anyone else noticed what manufacturers are doing to their packaging?  I've noticed that the packages have gotten smaller with less product and the price gone up.  I've noticed that with bacon, boxed mixes and many others too.  If you do the shopping and cooking...it's real noticeable.

Another way people can still fight some of this inflation is to see if they can do a straight up refinance on their homes.  We did this with ours and saved over 630.00 a month.  We went from a 5.0 interest rate to a 3.0.  That's a substantial amount of monthly money for people living on a tight budget with kids.

Didn't mean to get too far off topic with this, but it's all about trying to survive these new tax laws one way or another.  

[17 Oaks]

Great post tac.  Unfortunately...I won't qualify, but I'm sure this will help others who didn't know about it.  

Everyone is going to have to go into survival mode now that our paychecks are under attack.  Might as well get what you can to cushion the effects of what's coming.  

Food prices have sky rocketed here in the Northeast.  A friggin loaf of plain white bread...the average price is now almost 3.00 a loaf and milk has gone up.  

Has anyone else noticed what manufacturers are doing to their packaging?  I've noticed that the packages have gotten smaller with less product and the price gone up.  I've noticed that with bacon, boxed mixes and many others too.  If you do the shopping and cooking...it's real noticeable.

Another way people can still fight some of this inflation is to see if they can do a straight up refinance on their homes.  We did this with ours and saved over 630.00 a month.  We went from a 5.0 interest rate to a 3.0.  That's a substantial amount of monthly money for people living on a tight budget with kids.

Didn't mean to get too far off topic with this, but it's all about trying to survive these new tax laws one way or another.  

Look like I sure don't qualify, but used to that.

We are entering a new era in AmerKia.  I have started, been a senior level employee and consulted to corporate America.  In my circle of friends a few of them were able to build their business to the point it became a very profitable and successful career.  But most of them just ran small business and of the many I know only a couple live the millionaire lifestyle from a business they built.  But a LOT of them who own a small business with a handful of employees have made a LOT and I mean a LOT of money and they did so because they were in a business that took in a great deal of cash as in greenbacks.  I know many that are knocking down $50k per year in cash, plus paying themselves out of the company reportable revenue.

Farmers markets, weekend street fairs where folks sell goods, pottery, fingernail files that his wife has painted some flowers on the handle, they get $7 for a small to a large for $12, they have been doing this for over 5 years.  I know another guy who has a snow cone machine, he works about 9 mo a year and has made as much as $3000 in a weekend, his profit is about 70%, he keeps 40% of ALL cash, the rest he reports to the IRS and his cost of doing business keeps his tax payments LOW.  Got another friend who sells funnel cakes, $5 bucks ea, he will sell an average of 200 per market day, that is a $1000 per day, plus his wife is there making fresh lemonade at $3 and $5 bucks ea.

Few years back I dated a girl who was a hair dresser, she did well, making about $50 per year plus tips.  She up and quits and now works the garage sale circuit and sells on e bay.  Owns a home, put her 2 daughters thru college, bought them cars and she is flying below the tax radar.

Our tax laws which are about as stupid as any out there do not max the money the feds need to take in.  WHO pays taxes in this country????  Anyone who has TRACEABLE income, which is mostly W-2 income.  The rest of the US pays little or no taxes.  When I lived in Miami, I bought my home from a real estate broker (who lived there).  We got to be friends and would meet for lunch from time to time.  He laid this on me in one of our conversations:  Over 75% of all homes sold in Dade county (Miami) over $2 Million were all cash (GREENBACKS) transactions.  You go to closing table and in a short while a armored truck will pull up and armed guards start hauling in bags of cash, money is counted, usually in $20's and $100's, and the truck now heads down to your bank or what ever you want to do with the money.  Drug trade!

Get in a business that does a good % in cash money...

[Teri]

Oaks, you are so right!  If one is motivated...and I stress that word...one can make money still.  It depends on your lifestyle, but I had some friends who used to run their own restaurant, when they decided to get out of that business, they opened up a small Italian ice stand.  It was only a small garden shed that converted with little work.  With nothing more than an ice shaver, different flavors of syrup and a cash register and the right location next to a park, they were taking in no less than 500.00 a day in sales with very little overhead expense.

There are all kinds of ways to make money still if one has the motivation and willingness to work. 

I think that's why I've always done well myself is because for one...I've never thought I was too good to do anything that brought in the cash.  I ran my own business for over twenty years.  I owned two farms, sixteen horses and did really well until my divorce.  When I got out of that business, I then started another one in another state that has sustained me very well and I love the work I do. 

It all depends on the individual and what they're willing to do...  Great post Oaks!

[17 Oaks]

Oaks, you are so right!  If one is motivated...and I stress that word...one can make money still.  It depends on your lifestyle, but I had some friends who used to run their own restaurant, when they decided to get out of that business, they opened up a small Italian ice stand.  It was only a small garden shed that converted with little work.  With nothing more than an ice shaver, different flavors of syrup and a cash register and the right location next to a park, they were taking in no less than 500.00 a day in sales with very little overhead expense.

There are all kinds of ways to make money still if one has the motivation and willingness to work. 

I think that's why I've always done well myself is because for one...I've never thought I was too good to do anything that brought in the cash.  I ran my own business for over twenty years.  I owned two farms, sixteen horses and did really well until my divorce.  When I got out of that business, I then started another one in another state that has sustained me very well and I love the work I do. 

Thank you very much Teri...I hope all on here read and heed, the America I knew, loved, fought for and grew up with is not the Amerkia they are going to know.

Obammy our dictator in chief is taking control of nearly every business in the US and he is doing it thru the EPA Regs and rules and Federal rules on who you must run your business if you have 50 or more employees...  Gone are the days you can start, grow and run your business as YOU the owner sees fit.  Ohh and on that 50 employee rule, better read the small print.  ALL the hours of ALL employees add up:  Any employee even part time working more than 30 hrs a week will be considered full time...its all about control of you and your business.

Better fly under the radar or you are on the radar.

It all depends on the individual and what they're willing to do...  Great post Oaks!

[Teri]

My motto is that when life slings lemons at you...you make lemonade with them and sell it back to those to threw them at you.   

[Freeper]

I would be a hypocrite if I were to sign up for this. But I am so tempted.

[tac]

I would be a hypocrite if I were to sign up for this. But I am so tempted.

I would if I could. I'm hoping my children read the article I sent to them and take the steps outlined in the article.

[Karin]

I would be a hypocrite if I were to sign up for this. But I am so tempted.

Freep, you'd almost have to.  I don't know what the levels are for a family of two, but say someone has a $50K income, and then their employer drops all the insurance and pays the fine.  How could they possibly come up with the money to pay for insurance without the subsidy?

It absolutely sucks that we would be forced to go against our principles like this, (I have never taken a gov't subsidy or check).  But insurance is a huge cost, you can't scrimp and save for money like that. 

These states that are refusing to do the exchanges.  Nobody's talked about that for a while.  Could it be what unravels it all?  Nobody can find $10K under the sofa cushions.  What a cluster. 

[Freeper]

Freep, you'd almost have to.  I don't know what the levels are for a family of two, but say someone has a $50K income, and then their employer drops all the insurance and pays the fine.  How could they possibly come up with the money to pay for insurance without the subsidy?

It absolutely sucks that we would be forced to go against our principles like this, (I have never taken a gov't subsidy or check).  But insurance is a huge cost, you can't scrimp and save for money like that. 

These states that are refusing to do the exchanges.  Nobody's talked about that for a while.  Could it be what unravels it all?  Nobody can find $10K under the sofa cushions.  What a cluster. 

I won't judge anyone else who has to take this, I just can't justify it for myself. Maybe if we were in a position where we could lose our insurance I might go against what I believe in and apply for it.

In some ways we are lucky my wife has really good insurance and so far we have not seen any of the rate increases or any increases in copays, which is really good because my poor wife has several health issues and as some folks here know I have had some health problems recently, and we are about to have a little one. The only reason that I would even consider doing this is if we need it and only because of the baby.