Obamacare Will Destroy Jobs

If socialist Barak Hussein Obama is honestly concerned about the economy and the unemployed his next step will be to stop Obamacare socialized health care in Congress NOW.  Just the fear of the taxes and costs of Obamacare is slowing any chance of an economic recovery.   Prudent business men and women don’t invest in growth with huge new taxes on the horizon.

Here are some of the reasons Harry Reid’s Obamacare bill are disastrous for the economy.  It is disastrous  for the people the socialist Obama and Democrats are supposed to be the most concerned about, the low income workers.  In facr, Obamacare is disastrous for all of America.

The Reid Bill raises taxes by $370.2 billion over the next ten years with many of those taxes starting to be collected this year with unemployment at 10.2% and rising.  Worse, the bill includes a job killing employer mandate which taxes companies for hiring people.  Specifically, companies with more than 50 employees that do not offer a health plan approved by federal bureaucrats will be forced to pay a $750 per employee job tax.

The Reid Bill acknowledges it is terrible public policy for small businesses and tries to address this problem by including a “small business tax credit” to minimize the impact of the job killing employer mandates and regulation-caused increases in private health insurance premiums. But the tax credit only lasts two years and largely excludes small business owners, small businesses with high-average payrolls, and firms with 25 or more workers. Essentially, after all exclusions,  the only eligible firms are those firms with 10 or fewer workers as well as those with low-income workers—the least likely to offer coverage even with a significant price reduction.

The Reid Bill’s employer mandate is especially punitive on poor families. Firms that hire an employee from a low-income family who qualify for an insurance subsidy are charged a tax penalty of $3,000. So a company could save $3,000 by hiring, say, someone with a working spouse or a teenager with working parents, rather than a single mother with three children. Worse, companies only have to pay $750 an employee instead of $3,000 if one quarter of employees are low-income. This creates a situation where, if a company has a lot of low-income workers, they can actually save money by dropping their health plan and just dumping all their employees into the federal exchange at their own expense.

House Minority Whip Eric Cantor (R-VA) said in a speech, “Halt Any Proposed Rule or Regulation Expected to Have an Economic Cost, Result in Job Loss, or Have a Disparate Impact on Small Businesses.” As Cantor explained in his speech, that means a merciful end to Obamacare.

Stay engaged America.  We can defeat Obamacare socialized health care.  Remind your Representatives that WE cast the votes that put them in office and WE WILL cast the votes that replace them.  Election 2010 is less than a year away.

Join with us America to protect your rights and your country. We are ready to defend our rights and tell the truth the elitist progressive main stream media won’t tell you.  Comment here and email us at YourVoice@speaknowamerica.org .

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