Tags: asbury | small business | supreme court | ruling

Small Business Gets Punished by Supreme Court Ruling

By Neal Asbury
Wednesday, 04 Jul 2012 09:18 AM Current | Bio | Archive

The ruling by the Supreme Court that found Obamacare constitutional sent a message to small business that free enterprise no longer exists and the government is now in charge of their future. For the nation’s job creators, this ruling is devastating news for business and worse news for the 25 million Americans unemployed or under-employed.

The ruling by the Supreme Court said the law’s “requirement that certain individuals pay a financial penalty for not obtaining health insurance may reasonably be characterized as a tax. Because the Constitution permits such a tax, it is not our role to forbid it, or to pass upon its wisdom.”

What folly. The Democrats are celebrating the ruling, all the while complaining that Obamacare isn’t a tax. In fact, White House Chief of Staff Jack Lew declared that the Supreme Court didn’t call it a tax. But just read the ruling. It clearly states that the mandate should be “characterized as a tax.”

Now, thanks to some pathetic word play, the White House calls the mandate fines a “penalty.”

The dictionary defines penalty as: “A punishment established by law or authority for a crime or offense.”

That’s right, small business is being punished for not accepting Obamacare, and this lack of acceptance constitutes a crime.

Senate Minority Leader Mitch McConnell predicted that healthcare is now bound to be a major issue in the November elections. “It’s a job killer. We all know the economy and jobs are the number one issue in the country. Obamacare has already cost us plenty of jobs. This bill is something the American people don’t need and don’t want, and it will be a big issue in the fall campaign.”

Experts predict that firms with 50 or more employees will have to pay a penalty that starts at $2,000 per full-time employee in 2014 if they don’t provide health insurance or their plans don’t meet the government standard.

The non-partisan Congressional Budget Office says it will cost the country a million jobs if fully implemented.

The Heritage Foundation estimates that $500 billion in new taxes will be imposed on businesses and individuals, making this the largest tax increase in the history of our nation.

According to a story in the Washington Times, “The most egregious provision is a tax penalty on businesses with at least 50 workers who fail to offer adequate, government-approved health insurance. Common sense and data show that the burden of paying this tax will fall on consumers in the form of higher prices, on shareholders in the form of lower profits and on workers in the form of lower wages and fewer jobs.”

It doesn’t take a genius to figure out that small businesses will do everything they can to keep their employment figures under 50 to avoid the penalty. That means either not hiring or even laying off employees to get under the 50-employee threshold. That is the antithesis of what this country needs to get Americans back to work.

Consider a small business owner thinking of adding a $30,000 per annum position to the company. But that doesn’t take into account the fact that a family healthcare policy costs as much as $15,000 today before Obamacare is fully implemented. This is already 50% of one’s salary. As businesses become compliant with the many provisions of Obamacare in the next few years, this will vastly escalate.

How can America compete? What happens when the cost of family coverage for healthcare becomes 70% or 80% of one’s salary?

As a small business owner, I am being forced to make some very tough decisions. Do I drop insurance for my employees? Reduce coverage? Stop hiring? Lay employees off? Pay penalties?

One thing is certain. My employees and I will have to start getting used to paying much more and getting far less. And this is the best-case scenario.
Small businesses are the nation’s job creators. Why would any country experiencing a global slowdown put up barriers that will hurt economic growth and stop hiring?

Obamacare is a bad law. The Supreme Court ruling doesn’t change this fact. Obamacare must be overturned if this country is going to move forward.

I want to hire more employees. Out-of-work Americans want jobs. None of this can happen until Obamacare is overturned. Let your voice be heard this November. Send a message that Obamacare is simply un-American.

© 2017 Newsmax Finance. All rights reserved.

1Like our page
2Share
726
2012-18-04
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved