October 26th, 2010, 1:58 am
Here is an example where anyone will agree you would have to be batty to work:QuoteFurther, the new health law will give some older households without access to employer care a big incentive not to earn too much. That?s because earning more than 400% of the poverty level would make them ineligible for subsidies that may be well in excess of $10,000 for couples.Consider this example of a single individual age 62 in a high-cost area and no access to employer care. According to the Kaiser Family Foundation?s Health Reform Subsidy Calculator:* At 200% of the poverty level, or $23,000 in income in 2014, an individual would get $10,750 in premium subsidies.* At 400% of the poverty level, or $46,000, an individual would get $7,830 in premium subsidies.* And at 401% of the poverty level, an individual would get no government support.So what is he going to get for dragging himself to work each day? 15 cents on the dollar? 50 cents after healthcare. After car payments, gas, lunch, clothes, whatever, it will be 15 cents. Why not make your own furniture in that situation? Why not just pick up a used camera and make films all day?Not to mention, your children under age 23 will become ineligible for college loans and grants if you earn any money. There goes that last 15 cents and then some. Your children will be better off working themselves at the ice cream parlor, or babysitting under the table, rather than you working an office job.The only work that is worth doing is work that is very easy, doesn't take much time, will most likely produce no reported income, but has a small chance of making a ton of money, and is enjoyable. Become a rock star. An unprofitable one. They can't tax your groupies.