President Obama’s signature health reform law is killing jobs.
The provision within the law that requires businesses with 50 or more full-time employees to provide health insurance or forcing employers to slash jobs and hours is the part doing most of the damage.
If businesses fail to provide their workers with insurance they face a $2,000 to $5,000 penalty fine per employee.
To dodge the additional costs of the employer mandate, employers are simply trimming hours and reducing staff.
From Washington Examiner:
Obamacare is forcing hundreds of thousands of people into part-time work, according to a new analysis from the bank Goldman Sachs.
In a research note sent out Wednesday, bank economist Alec Phillips concluded that “the evidence suggests that the [Affordable Care Act] has at least modestly elevated involuntary part-time employment.” He wrote that a “few hundred thousand” workers may have had their hours cut or been forced to take part-time jobs because of the law.
Goldman Sachs’ analysis is the latest conduct on the contentious topic of the healthcare law and part-time work, and its findings largely back up what other studies have revealed, Phillips wrote. The bank weighed in on the question after involuntary part-time work rose sharply in recent months.
Goldman Sachs reviewed the industries with the most workers without health care coverage working for firms with at least 50 employees, such as bars, restaurants, and retail stores.
Those industries, the analysis found, have higher numbers of workers working part-time involuntarily.
This is proof of the Obama administration’s inability to implement and administer Obamacare in any type of cost-effective and fair manner.
The nation’s most vulnerable workers will bear the brunt of the Affordable Care Act’s ill effects, since they’re most likely to hold the kind of jobs companies are cutting.
The health insurance mandate incents businesses to avoid hiring low-income workers and to outsource those jobs whenever possible.
Nearly half of Americans (48.8%) oppose ObamaCare, according to the Real Clear Politics average of recent polls.
The continuing unpopularity of President Obama’s signature domestic achievement gives the GOP an enormous opportunity.
Republicans will prevail in this fall’s presidential and congressional campaigns if they make ObamaCare a top issue.