As Meredith noted yesterday
, the health care plan without the public option will cause families making $88,201 (and who do not have employer-based coverage) to see an average cost of $15,020 added to their yearly bills because of the insurance mandate. That flies in the face of Obama's pledge not to raise taxes on families making $250,000 or less. As Cato's Michael Tanner notes
These increases are over and above any increases that would occur if we did nothing.
But there are more tax woes
included in the bill beyond this single insurance mandate, as Tanner explains. There's the new tax that an estimated 19% of workers would have to pay — and that percentage would grow as time went on, because the tax is slated to expand at a rate slightly slower than medical inflation.
Furthermore, the cost of the bill is expected to grow as time goes on — and those costs don't just evaporate into thin air. They get paid, in taxes, by hard-working Americans.