Sunday, June 16, 2013

Obama To Fine Businesses $130 Billion Over New Obamacare Laws

The federal government is hurting for cash, we all know. The nation is practically bankrupt. But with the new Obamacare law the government stands to rake in $130 billion in fines from businesses once Obamacare kicks in. This is $130 billion that won’t go into the economy, won’t go to economic growth, won’t go to new jobs or raises for employees… it will just go to waste in the black hole of wasteful government spending.
Already the government is now admitting that Obamacare will cost more than 100% more than Obama claimed it would.
The $130 billion in fines will be levied on companies that can’t afford to–or refuse to for whatever reason–provide insurance for employees.

Obama’s nationalized healthcare law states that if you have 50 employees or more that work full-time (and by “full time” the law means 30 hours a week instead of the traditional 40 hours) and one of your employees is found by the IRS getting a tax credit for coverage in a state-based health care insurance program, then that business will pay $2,000 per employee that works 30 hours per week or more. For a fifty-employee company that is up to $40,000 annually in fines. By 2014 that rises to $140,000 in fines as the scale ramps upwards over the ensuing years.
Also if any policy offered by the company amounts to more than 9.5% of an employee’s income, the company has to pay $3,000 for that employee.
Of course, the goal here is to force companies to foot the healthcare bills costing employers billions.
The result of this law, though, won’t be millions more getting employee healthcare insurance programs. What will happen instead is that companies will cut hours until no one works more than 30 hours a week and won’t qualify for the insurance in the first place.
Sadly, we are already seeing the cost of insurance go up uncontrollably. In Ohio insurance is going up 88%, worse in California it will go up 140% and that is just the beginning.
This isn’t the only new tax that Obamacare forces on America. Obamacare even charges a tax to use a tanning booth!
Hey, remember when Obama said if you like your healthcare plan you can keep it? Yeah. He’s a liar.

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