Health Care – Republican Style

So when the Republicans take the House on November 3^rd, one of their key fiscal leaders will be Rep. Paul Ryan from Wisconsin.  Rep. Ryan and the other Republicans may propose a repeal of the Health Care Reform.  However, nobody is talks about the Republican proposal for Health Care.  Yes, they do have one and it is Representative Ryan’s.  He is proposing a refundable tax credit; $2,300 for individuals and $5,700 for families each year. 

First, a refundable tax credit means you pay first and then get it when you file your taxes.  In addition, you get the credit even if your tax liability is zero. 

According to the latest census projections, there are just over 310 million Americans.  According to the 2008 estimates of households, this separates families from individuals.

Total Households: about 112.3 million

Total Families: about 74.8 million

Individuals: about 37.5 million

So let us do some math, 74.8 million times $5,700 each year that equals 426,360,000,000.  That is just over $426 BILLION on tax credits for just Families.

37.5 million Times $2,300 each year that equals 86,250,000,000

That is just over $86 BILLION on tax credits for Individuals

For a total of $512 BILLION each year of spending to the Federal budget. 

A reminder to everyone, the CBO cost estimate of the Health Care Reform Act is 938 BILLION over TEN years; In comparison to my basic math using Rep. Ryan’s proposal and Census data, the Republican proposal is $5.12 TRILLION over ten years. 

If you really care about controlling spending, the national debt, and believe that we need to do something about health care in this country; The Democrats and the President’s Health Care Reform is the better solution for the country.  The Republican solution will continue their policy of fantasy governance or do nothing to solve problems.