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Politics
3 Ways Obamacare Kills Jobs
Obamacare’s provisions will result in significant job loss acrossAmerica. Below is a summary of how Obamacare’s provisions will harm job growth:
1) Employer mandate. Obamacare requires all businesses with 50 or more full-time employees to provide health coverage for their workers or pay a $2,000 penalty for each employee after the first 30 workers.The employer mandate creates incentives for businesses to avoid higher costs by, for example, hiring part-time employees instead of full-time employees, since businesses will not be penalized for failing to provide health insurance to part-time employees.In addition, as Heritage research shows, “Obamacare hurts less skilled workers. It raises the minimum productivity required for them to hold a full-time job, particularly workers with families.” The cost to an employer of hiring a full-time worker increases to at least $10.03 per hour and for those with family health coverage, it is at least $13.75 an hour. Research shows that “a third of uninsured workers earn within $3 of the minimum wage and therefore have a higher risk of losing their jobs because of an employer mandate.”
Businesses can also avoid penalties by keeping the number of employees under the mandate threshold of 50, which further discourages creating new jobs.
2) New taxes and regulations. Obamacare adds tons of taxes on employers. These additional costs reduce the ability to hire workers and could even prompt layoffs. One particularly damaging tax will be the 2.3 percent excise tax on medical devices. Research has shown that, “Under reasonable assumptions, the tax could result in job losses in excess of 43,000 and employment compensation losses in excess of $3.5 billion.”Obamacare also, for the first time, applies the Medicare payroll tax to high earners’ investment income, including capital gains. Taxing capital reduces economic growth and investment.
3) Future costs and regulations are unpredictable. A recent study found that 33 percent of business owners cited new requirements in Obamacare as either the biggest or second-biggest obstacle to hiring. In addition, Dennis Lockhart, the president of the Federal Reserve Bank of Atlanta, said, “We have frequently heard strong comments to the effect of ‘My company won’t hire a single additional worker until we know what health insurance costs are going to be.’”
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Comments
2ndAmendment, Do you even
2ndAmendment,
Do you even know what the 2nd Amendment is? While looking at your responses, I have concluded that you must be a southern edumacated conservative...whatcha think!
I base this on the fact that you seem to be another moron who beleives the rhetoric in reference to companies not hiring due to not knowing what the health care law is going to do. That is the same fukking (your words) reasoning you morons are giving in reference to companies not hiring because they do not know what is going to happen with the tax issue. The Bush tax cuts have been in play for over ten fukking (your words) yet...where are the fukking (your words) jobs! Ten years with tax cuts, hell we should be importing people to fill all of those jobs that were to be created with the Bush tax cuts. So stop with this BS with companies not knowing what will come next....its getting fukking (your words) old!
In reference to your wife working for a so called "national company" that does not provide health insurance, I would like to know what company that is, being national and all. Yet, I guess you think it is O.K. for this national company to keep on doing what it is doing with employee bennies. So tell me. how in the fukk (your words) will a "national company" change if they are not forced to provide the health insurance by the government? I guess you think it is O.K. that employees with no insurance have to utilize the E.R. for their healthcare.
Let me clue you in on something stud. Do you know who pays for those who utilize the E.R. for healthcare with no insurance? Let me answer that for you sweetpea; people with health insurance pay that bill and guess what, I am fukking (your words) sick and tired of my premiums going up because of the E.R.being utilized as a family healthcare center. What, you think the hospital is going to suck up the costs...yeah right!
If these companies are that fukking (your words) cheap, then they can pack up and leave. What, I am suppose to cover the health care cost because they don't want to provide it to their employees....BULLSHIT! (your words)
Oh and just one other thing, there were over 500,000 jobs created just in the last two months, when Obama came into office, this country was shedding over 700,000 jobs during that time. The fact of the matter is this; the jobs of today are a bit more technical then the jobs of the past, so if you are not educated enough to get one of those jobs of today, do not blame Obama for that. Many jobs will never come back, its called modernization, its called globalization, it called global economy. So if you are waiting for a "screw the nut on the bolt" type job good fukking (your words)luck!
PS. Pres Obama cannot fix in three years what Buch fukked (your words)up in eight years.....whatcha think sweetpea!
As an employer, I call
As an employer, I call bullshit on this analysis:
1. Any business offering benefits isn't competitive. Non-issue for most companies of 50 or more employees.
2. None of those taxes or fees apply to most businesses. Also, investment income is taxed at a substantially lower rate than income. Capital that is invested and not spent does not drive th economy.
3. For most businesses, the impact is .... ZERO!