Skip to comments.Obamacare will reduce U.S. employment
Posted on 03/18/2013 9:26:35 AM PDT by illiac
WASHINGTON (MarketWatch) Members of the House Energy and Commerce Committee gathered on Wednesday at a hearing of the health subcommittee to discuss the effects of the Affordable Care Act on jobs.
As a witness at the hearing, chaired by Pennsylvania Republican Joe Pitts, I testified that the new law will reduce employment in America, particularly for low-skill workers, because employers face a higher cost of labor.
Whenever possible, firms will substitute high-skill for low-skill labor, part-time for full-time workers, machinery for people, and refrain from hiring a 50th worker, which can make them liable for penalties.
Full-time hiring will be hurt by health insurance requirements. Most people know by now that when ACA, also called Obamacare by its critics, is fully implemented in 2014, Americans will be required to buy insurance or pay a tax. Firms with 50 or more employees will have to offer affordable health insurance to employees, or risk annual penalties of $2,000 or $3,000 per full-time worker. No penalties are owed on part-time workers, those working fewer than 30 hours a week.
(Excerpt) Read more at marketwatch.com ...
Well, it’s what the TV convinced the sheeple they wanted.
reduced employment higher unemployment, higher homeless families population, no middle class - welcome to a socialist utopia - America will go like Michigan - see Detroit, Flint, Saginaw. There are few nice spots in Michigan but otherwise Michigan is a hole.
Was interesting to note that the author did not say it would increase unemployment instead of the was she worded it...
Only Congress and idiots, but I repeat myself, are stupid enough to not understand this.