The Coming Disaster

In an Op-Ed article this week, Forbes outlines the nightmare that is Obamacare and its effect on the economy and unemployment.

As the days go by and more and more businesses are realizing the effects Obamacare will have on them, they are becoming increasingly reluctant to hire more employees. As the article notes, the tax burden on insurance companies in the next several years is enormous; rising from $8 billion next year to $13.9 billion in 2017 and $14.3 billion in the years beyond. This tax burden will then be passed onto the consumers in the form of higher premiums. Over the next 10 years, premiums are estimated to rise anywhere from 2 to 3.7% based on different studies. That will result in roughly $5,000 in higher premiums for families and $7,000 for small businesses on average; in some states it could be much higher. Obamacare will also force higher premiums on seniors in Medicare Advantage plans as well as those in Medicaid plans. 

Complete story here: http://www.forbes.com/sites/sallypipes/2013/03/18/the-more-businesses-learn-about-obamacare-the-more-reluctant-they-are-to-hire/

When Nancy Pelosi said we would have to pass the bill in order to find out what was in it, she clearly wasn't joking. Obamacare passed three years ago and as it has slowly began to take effect, we are starting to find out exactly what is in it and it's not good. Republicans have called Obamacare a "job killer" from the get go and based on the figures in this article, it's easy to see why. All of the taxes from this legislation are literally robbing businesses of the ability to hire people in the future and even forcing some to layoff employees they already have.

Liberals just flat don't get it when it comes to running a business. Most of them have never had a real job outside of the public sector; Obama makes it glaringly obvious he hasn't. They don't understand the concept of a budget and having to allocate certain amounts of money for certain things and actually only being able to spend that amount. They don't understand that higher taxes means less money to pay employees and/or hire new ones. They don't understand that businesses pass added costs onto consumers as a way to make up for losses. Even if they did, there's no reason to think anything would change because liberals just aren't logical.

Putting aside Obama's policies on income taxes and regulations that are holding back growth already, Obamacare alone points to an extremely bleak future with little hope for improvement. Once the legislation is fully in effect next year, the barrage of new taxes is permanent (assuming no miracle occurs before then), and businesses will appear to be facing an indefinite battle not only in hiring new employees but maintaining their current ones with an ever-shrinking budget. 

If you think the economy has been bad over the last four years, the next four are going to be a disaster...