I’ve read the IRS announcement on changes for 2014, and I have waded through explanations of the Affordable Care Act’s Premium Tax Credit…
My eyes have been stained by looking at The Federal Register! AAAAAAAAAAAAAAAAAAAAAARRRGH!
I then recovered and updated my baseline income tax model to estimate what taxes are going to be like for the masses for 2014. Big change: ObamaCare is in effect a massive new negative income tax, but you have to jump through some hoops to get it. Expect unfairness to follow.
On the upside, the larger negative income tax makes it easier to approximate the baseline system with a two-tier Simple Tax. And I have the tables to prove it. Check out:
Then come back here if you want to comment.