SMALL
BUSINESS ASSAULT
FROM OBAMACARE
By: SARTRE
Hold on to your socks, the part time hiring of employees will become the new
normal. The biggest prohibitive hit against job creation is in full motion. The
consequences from Obamacare place a drag on the economy that is undeniable. This mugging
of small business will guarantee that the primary engine of employment will sputter and
knock, as the federal government forces higher and higher taxes on the last semblance of
free enterprise.
Do not
ignore the significance of this seminal moment. Forget about any economic recovery on Main
Street. The unemployment stats will be stuck in a permanent loop, as the gross domestic
product stagnates, at best. The more likelihood is that the characterized "double
dip" recession will experience a full-blown depression. Government’s response
will inflate prices in a feeble attempt to stave off deflation retractions.
Ponder the
fallout of this escalated assault on the middle class. Larry Kudlow portrays in John
Roberts Is a Super-Taxer the Supreme Court ruling as a dangerous precedent.
"The
Roberts court has served up a "tax mandate" that is more powerful than the
still-limited Commerce Clause regulatory mandate. Roberts has created a huge new loophole.
Instead of new purchase mandates, we'll have new purchase tax mandates.
Americans
for Tax Reform estimates that Obamacare contains 20 new or higher taxes on American
families and small businesses. Investor's Business Daily says this comes to a $675 billion
tax hike over the next decade."
Watch the video of Stephen
Moore, Senior
Economics Writer with the Wall Street Journal, explaining that nearly 75% of Obamacare
costs will fall on the backs of those Americans making less than $120,000 a year.
How
Will The Supreme Court’s Decision To Uphold Obamacare Affect Small Businesses And Job
Creation?, confronts the
consequences of approving the tax mandate.
Beginning
in 2014, the "Employer Responsibility" provision would require employers with 50
or more workers to provide health coverage.
Critics
say it could hurt small businesses that have more than 50 workers and can't afford to
offer health care coverage. Moreover, it could curb hiring among companies that have fewer
than 50 employees.
Also,
"A lesser-known provision of Obamacare penalizes small businesses for hiring more
than 25 employees, said Ben Piper, President of Ben Piper Consulting LLC. "Small
businesses that have 25 or fewer employees and offer health care insurance will receive a
35 percent tax credit under the law."
When the pro
government mouthpiece CNBC reports of negative aftermaths, you know the prospects are
awful. From Small Business on Obamacare:
No Reason to Hire or Invest the warning follows:
Jim
Amos, CEO and chairman of Tasti D-Lite, a frozen yogurt franchise that operates in 14
states as well as globally, is certain of one thing: The ruling will hinder growth in the
franchise space. "It’s going to force franchisees to shift workers to part-time
to avoid the 50-employee threshold," he said. "It will keep new owners and new
openings on the sideline."
The Street
exhibits an unsupported sentiment in, Small
Business Reacts to Obamacare Ruling, "small
businesses by and large are resigned to the law and preparing to move ahead with the
required health care changes." Maybe the more accurate assessment, in this same
article is the operative response.
"Still,
the Small Business & Entrepreneurship Council, a nonprofit advocacy and research
organization dedicated to protecting small business and promoting entrepreneurship, says
the ruling is a "major blow" to entrepreneurship overall.
The SBE
Council has a broad-based membership of 100,000 members comprised of self-employed and
small to mid-size businesses across industries. |
