Trump: Ruling on Obamacare Could Boost Romney

Thursday, 28 Jun 2012 06:00 PM

  Comment  |
   Contact Us  |
|  A   A  
  Copy Shortlink
The Supreme Court decision to uphold the Patient Protection and Affordable Care Act will likely help boost GOP presidential hopeful Mitt Romney into office, says real estate mogul Donald Trump.

Businesses won't be able to handle the added financial strain that comes with the law, many of whom may even close their doors.

"It's interesting that this could be a very positive note for Mitt Romney," Trump tells CNBC.

Editor's Note: How You Lost $85,000 During the Last Decade. See the Numbers.

"A lot of people that really felt strongly about this now realize that the only way to get rid of it is through the next president."

The law, often referred to as Obamacare, mandates individuals to buy health insurance and requires businesses with 50 employees who don't cover those workers' health insurance to pay penalties.

"People do not want it and they are very vehement about it. I've never seen anything like this. Business are going to be closing up all over the place, so I really think that you could have a case where this is a very, very strong and good sign for a potential president Romney," Trump adds.

"My primary expertise is that people who have businesses really feel it's not very affordable and they are going to go out of businesses."

The Supreme Court based its decision on the grounds that the mandate is a tax and not a penalty.

"The federal government does not have the power to order people to buy health insurance," Chief Justice John Roberts wrote, according to CNNMoney.

"The federal government does have the power to impose a tax on those without health insurance."

Retailers feel particularly worried.

“As the voice of retailers of all types and sizes, we’re disappointed by today’s ruling. The Court missed an opportunity to redress the many shortcomings of the law," National Retail Federation President and CEO Matthew Shay said in a statement.

“As it stands, the law wrongly focuses more on penalizing employers and the private sector than reducing health costs. For these reasons, NRF has been a consistent skeptic of the Affordable Care Act."

Costs will rise for retailers, which will hurt the economy.

“Although the Court upheld the law’s constitutionality, many problems remain: it penalizes employers too much; it doesn’t do enough to reduce the cost of healthcare; and it is unreasonably complicated and difficult to implement and administer," Shay said in the statement.

Editor's Note: How You Lost $85,000 During the Last Decade. See the Numbers.

© 2014 Moneynews. All rights reserved.

  Comment  |
   Contact Us  |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Retype Email:
Zip Code:
Privacy: We never share your email.
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Financial Experts: Investors, Protect Yourselves from Cybercrime

Tuesday, 02 Sep 2014 22:04 PM

Cybercrime is on the rise and investors need to be proactive in protecting their assets, financial experts warn. . . .

Morgan Stanley's Parker: S&P 500 Will Rise 50% by 2020

Tuesday, 02 Sep 2014 21:32 PM

Many stock market participants say the party isn't over after a five-year rally. Adam Parker, chief U.S. equity strategi . . .

Home Depot Probes Possible Massive Credit-Card Data Breach

Tuesday, 02 Sep 2014 16:19 PM

Home-improvement giant Home Depot said Tuesday that it is investigating "unusual activity" that would point to a major c . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved