Home Depot Founder Marcus: Obamacare's Worst Is Yet to Come

Image: Home Depot Founder Marcus: Obamacare's Worst Is Yet to Come

Wednesday, 08 Jan 2014 10:37 PM

By Greg Richter

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A new Bankrate survey shows dwindling support for Obamacare as Americans begin receiving paychecks in the new year, and Home Depot co-founder Bernie Marcus says the middle class should expect it to get worse.

The survey showed that just under half of all Americans want the Affordable Care Act repealed, and 64 percent of those earning $50,000-$75,000 say they have had more money taken from their paychecks. Forty-four percent say they are paying more out of pocket, including such things as co-pays and premiums.

Even with the dismal numbers, Marcus told Fox News Channel's "Your World with Neil Cavuto" on Wednesday, "You haven't really seen it hit."

Because President Barack Obama delayed the employer mandate until after November's midterm elections, people who get their health insurance through their jobs will not see the full impact until 2015.

Marcus had a warning for people who get insurance through their employers: "You're going to end up with very little insurance. You're going to end up with very high co-pays, and you're going to end up with just a mess on your hands."

Marcus said the costs of healthcare are just the latest in a series of attacks on businesses. He told Cavuto that current regulations would have made it impossible for The Home Depot to have grown to 2,200 stores with 330,000 employees.

He said he's done the math and thinks he could have opened about eight stores.

"There's no way we could do what we did before," Marcus said. "You have to be a nerd that invents an app. That's the only way to make it today, as far as I'm concerned."

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