Here’s What Repealing Obamacare Could Mean for You Financially

Recently, the nonpartisan Tax Policy Center estimated how repealing Obamacare (without doing anything else) is likely to impact Americans. Here are their results of their analysis:

If you’re poor or not doing well financially, repealing Obamacare will result in an increased tax burden on you. In some cases this will be quite significant.

if you’re doing average (this would include people with a net worth up to around $150,000), it will probably raise your taxes, too. But it won’t raise them by very much.

If you’re doing better than average (this means you probably have a net worth of between $150,000 and $450,000) it might slightly lower your taxes. But it won’t be noticeable.

If you’re doing well financially to being really well off (you’re between $450,000 and about $8 million), you’ll get a tax bonus.

If you’re rich (like at least $8 million) you’ll get a bigger bonus.

And if you’re REALLY rich (around $20 million rich or more) you’ll get an even bigger bonus.|

Assuming the analysis is accurate, it appears that repealing Obamacare — without replacing it with something else — would likely to make the rich richer, the poor poorer, and do pretty much nothing for the middle class.

Of course, Republicans have pledged that they will replace it with something else.

At this point in time, however, what they intend to replace it with remains unclear.

Whatever that “something” is, it’s going to be important. And unless it’s chosen carefully, it’s likely to put an additional burden — of whatever size — on those of us who really don’t need such an extra burden.


[Update, January 31, 2017: It seems clear that Republicans aren’t planning a comprehensive replacement for Obamacare, but a piecemeal one. That being the case makes this analysis all the more important.]