News Flash: If the public option really does cost $1 trillion over ten years, the House bill covers 54.4 percent of the costs just by increasing taxes on the rich to pre-Bush era levels. These figures do not include cost reductions in other programs nor do they take into account premiums that one would expect enrollees to pay. Naturally, the point is to make insurance affordable. Consider this. If 47 million uninsured people enroll and are charged $100 per month for the public option, the math works out like this:
47 million uninsured x $100/month = $4.7 billion per month
$4.7 billion/month x 12 months = $56.4 billion per year
$56.4 billion/year x 10 years = $564 billion over ten years
$564 billion + $583 billion = $1.147 trillion.
And that is assuming 1) no other cost savings and 2) that it actually would cost $1 trillion to run a not-for-profit health insurance program.
Game, set, match.