well MIME encoding is known to have a lot of overhead
"the actual length of MIME-compliant base64-encoded binary data is usually about 137% of the original data length, though for very short messages the overhead can be a lot higher because of the overhead of the headers. Very roughly, the final size of base64-encoded binary data is equal to 1.37 times the original data size + 814 bytes (for headers)."
http://en.wikipedia.org/wiki/Base64#MIME