Monday, December 15, 2014

The Gift of the MAGI (and the 1%)

This time of year affords us the wonderful opportunity to put aside petty differences, and to focus on what really matters:

Free money.

That's right, free money, as in ObamaTax subsidies for the poorest richest among us. Hark, they passed the bill so we could learn what's in it,  and boy, it's just good news all around for those with a big nest egg and no real income.

What the heck are you babbling on about, Henry?

Well, it's like this:

As I mentioned the other day, I tend to get a number of referrals from other agents. Recently, one such referral called for an appointment, and we got together to consider her family's options. This delightful and engaging lady was recently downsized from a prestigious (and lucrative) position with a Fortune 500 company, with a generous severance package and some major bucks in the bank.

As a result of the way that they're calculated, we quickly discovered that her family was eligible for a $1,000+ per month subsidy, bringing the family's net cost (for a fairly decent plan) to about $250 a month. They're very nice, gracious, warm people, and of course I don't begrudge them their free bucks - heck, they should be thanking Nancy, Harry and Barry - but are they really the kind of people we should be subsidizing?

Apparently so.
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