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How much will ObamaCare really cost?

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    Implementation might be more expensive than estimated

  • Duration 3:02
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This of the panel Shannon thank you the cost of implementing and enforcing the president's health care law looks like it will be dramatically more expensive than originally indicated.

So what does that mean for your taxes.

Chief national correspondent Jim Angle has details.

The Supreme Court decision made it official but health care mandate isn't taxed -- characterization one senator says would have doomed its passage -- had it been known at the time.

There would not have been ten votes for the legislation.

Nobody would want it -- have gone home and say.

I just increase your taxes by billions of dollars over the next ten years to fix health care.

The administration preferred to use the word revenues but it was -- taxpayers would have to cover the cost of the new.

Law where in insuring thirty million people who didn't have insurance before that's gonna cost some money.

It's basically going to be break even in terms of the deficit in just the first ten years including four years before the law takes full effect.

The administration plans to -- -- more than 400 billion dollars on everything from tanning salons to medical devices do insurance plans.

The president sold those tax increases by promising they wouldn't hit most people.

If -- player earns less than 250000.

Dollars a year.

You -- not seeing your taxes increased a single not.

Many of them however will hit the middle class and the -- such as the penalties on those who do not buy insurance.

Who is going to be uninsured.

People who are young and healthy typically not super affluent.

Poor people who -- we can't afford insurance so by and large that penalty tax his attacks on the uninsured lower income Americans.

The brother also plans to cover the trillion dollar cost of the first ten years with 500 billion dollars in cuts to Medicare which the program's chief actuary said would not work.

For a simple reason.

-- Medicare cuts are double counted they count toward supposedly paying for these entitlement expansions under Obama care.

But they're also supposed to pay for future Medicare payments because the trust fund is going broke.

One part of the court's decision could push the cause of health care even higher it said the administration could not force the states to add some seventeen million more be able to Medicaid.

Making it possible to put many of them into the more expensive taxpayer subsidized exchanges instead which could add some 500 billion dollars to the call.

Every time you spend -- -- got to pay for -- somehow this is 500 billion dollars.

500 billion attacks all the calls and -- -- are just estimates for those who take the long -- say whatever the nation does now.

He had -- to focus on cause we've completed in 85 here quest.

To construct and perfect -- safety net.

The next -- from government whether it's democratic or Republican government just to find a way to afford that.

Some estimates say the first day nears a full implementation good caused as much as two point six trillion dollars so -- -- of the plan tax increases don't work either other taxes go up for the deficit does Brett Jim thank.

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