Trump: Ruling on Obamacare Could Boost Romney

Thursday, 28 Jun 2012 06:00 PM

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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.

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