I’ve seen quite a bit of shock lately, as liberals see how ObamaCare is actually functioning in practice. With it’s key components kicking in in just a short period of time, employees are cutting hours, and laying off workers. While Conservative bloggers and other outlets have been discussing this for over a year, most of the public are now seeing the results, after it is too late. For a good wrap-up of what is happening, kindly consider this, from Chicks on the Right…
In case you weren’t already painfully aware, here’s the skinny on why unemployment will skyrocket in the face of Obama’s sucktastic socialized healthcare:
Under ObamaCare, employers with 50 or more full-time workers must provide health insurance for all their workers, paying at least 65% of the cost of a family policy or 85% of the cost of an individual plan. Moreover, the insurance must meet the federal government’s requirements in terms of what benefits are included, meaning that many businesses that offer insurance to their workers today will have to change to new, more expensive plans.
Suppose that a firm with 49 employees does not provide health benefits. Hiring one more worker will trigger the mandate. The company would now have to provide insurance coverage to all 50 workers or pay a tax penalty.
In New York, the average employer contribution for employer-provided insurance plans, runs from $4,567 for an individual to $ 12,748 for a family. Many companies will likely choose to pay the penalty instead, which is still expensive — $2,000 per worker multiplied by the entire workforce, after subtracting the statutory exemption for the first 30 workers. For a 50-person company, then, the tax would be $40,000, or $2,000 times 20.
But, you know, unemployment, shunemployment.
Yay free sh*t!
There you have it. Especially with small margin operations, like grocery stores and restaurants, ObamaCare has, and will continue to, limit staff hours, and prevent expansion.
Oh, and elections have consequences.