Posted in this Blog on 8/23/10, over two years ago, Kill the Bill.

Excerpt:

I will spare you the technical details and get straight to the main point.  This bill will kill employment, especially for the low wage employees and especially for mid size growing entrepreneurs (50 or more workers).   All of the economists, trying to figure out why employment is lagging in spite of low interest rates and record government stimulus, should put the charts away and just read this bill. And I am not even addressing the various tax increases, cuts in Medicaid, and the bureaucratic increase in 1099 reporting.  I am only addressing how this bill will affect employment.

It is also very clear that nothing in the bill will lower medical costs, but many requirements will increase costs. Access has taken a clear priority over cost and quality. We will provide more care for more people who will be ever less likely to be able to afford it without government help.

Employers with a large base of low wage employees will be hit the hardest, but their employees will suffer the most as many employers will find no other choice but to cut their hours to under 30 hours a week to avoid the burden on ‘full time’ workers.  Any business start-up requiring low wage employees will be thoroughly discouraged by their accounting and legal advisers.

On CNBC posted 10/9/12, Prepping for Obamacare, Chain Cuts Workers’ Hours.  (tips to Carpe Diem)

Excerpt:

The owner of Olive Garden and Red Lobster restaurants is putting more workers on part-time status in a test aimed at limiting the impact of looming health coverage requirements.

HKO:

Only an economic moron would fail to see this result and impact on employment. The Affordable Health Care Act is a job killer, and hits the middle class income most of all.

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