Numbers on Obamacare

In the last post it was pointed out that the Obamacare program will cost $1.2 trillion over the next 10yrs.

The US population is given at 307,887,008 by the US Census Bureau www.census.gov

According to the IRS, 250,379,000 income tax returns were filed in 2008. Leaving us with 57,508,008 people who did not file a return or are not required to.

Let’s see how much the Obamacare plan will cost per tax return..

$1,200,000,000,000 ÷ 250,379,000tax returns = $4792.73

So we have $4792.73 per tax return for the projected 10yr cost.

$479.27 per tax payer per year.

The current estimate is 40% file and receive a refund equal or greater than the amount paid in.

250,379,000 × 60% = 150,227,400 who actually pay a tax.

$1,200,000,000,000 ÷ 150,227,400 = $7987.89 for 10yr

So when it is all said and done, each person who is actually paying an income tax will pay an additional $798.79 per year.