No wonder people will want to work less and earn less.
For some people, CBO notes, the incentive to reduce their hours or quit their jobs will be especially strong: "People whose income exceeds 400 percent of the FPL are ineligible for premium subsidies, and for some people those subsidies will drop abruptly to zero when income crosses that threshold."
The Obamacare subsidy cliff is so steep that if you earn just $1 above the threshold, you could end up paying anywhere from a few thousand dollars to $20,000 more for insurance, depending on your age.
Take the case of a couple of 55-year-olds living in St. Croix County, Wisconsin, where the median household income is a little over $68,000.
Let's say that they earn $62,040 in 2014. They would pay $211 per month for the cheapest Obamacare plan available on healthcare.gov:
But if they earn $62,041--just one dollar more--they would pay $1,342 per month. That's an extra $13,572 per year for the same bare-bones insurance plan:But for Americans teetering on the edge of Obamacare's subsidy cliff, the decision to work more in order to earn less isn't much of a free choice at all.So there is no FREEDOM. You are FORCE into making the decision.
So much for that dumb democrat that equated 2.5 million working less with freedom.