Americanly Yours

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President Obama’s Healthcare Plan: Too Costly And Wont Insure Those It Targets

June 24, 2009 By: Phred Category: Uncategorized

The non-partisan Congressional Budget Office recently released a report saying that the President’s healthcare plan would be very costly–the CBO estimated that the plan would cost around $1,000,000,000,000 [$1 trillion] in new debt and would only decrease the percentage of people without health insurance by around 1/3.  From the CBO director’s blog:  “According to our preliminary assessment, enacting the proposal would result in a net increase in federal budget deficits of about $1.0 trillion over the 2010-2019 period. When fully implemented, about 39 million individuals would obtain coverage through the new insurance exchanges. At the same time, the number of people who had coverage through an employer would decline by about 15 million (or roughly 10 percent), and coverage from other sources would fall by about 8 million, so the net decrease in the number of people uninsured would be about 16 million or 17 million.

In other words, this plan is extremely expensive and will only accomplish around 1/3 of its goal.

$1,000,000,000,000 [$1 trillion] over 10 years comes out to $100,000,000,000 [$100 billion] in new debt per year from this program.  If you divide that up amongst the $304 million people living in this country, the cost of this program in new debt per person per year is $328.95… BUT…

Not everyone pays (ie, the poor) or even files for taxes (ie, children) .  According to the IRS, 132,276,000 individual tax returns were filed in 2006.  Of these returns, 43,400,000 had no tax liability (and many actually had a negative tax liability).  This means that taxes were paid on 88,876,000 tax returns. [Note:  i used the 2006 IRS numbers because I was unable to find a percentage of returns that didnt pay taxes in 2007]

Now, if we take the $100,000,000,000 [$100 billion] and divide it up among the 88,876,000 income tax returns that paid taxes, we find that those Americans who do pay taxes will be forced to pay an average of $1125.16 per person per year to finance President Obama’s healthcare plan. Remember, this is an average–many Americans will be forced to pay much more than this.

And remember, this $1125.16 per taxpayer will only cover about 1/3 of those Americans who do not currently have health insurance.  Covering the other 2/3 will undoubtedly be much more expensive.

As a taxpayer, are you OK with the government telling you that you HAVE TO pay $1125.16 per year to pay for someone else’s healthcare?  If not, you need to call or email your representative and tell them that you oppose this plan–before it is too late.

Americanly Yours,

Phred Barnet

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