Obamacare encourages businesses to keep wages low

Liberty and Pride ^ | May 4, 2010 | Conservative American

[csd]

Small Business Tax Credit:

The new Obamacare legislation will provide a tax credit to small businesses with no more than 25 employees. The tax credit will be equal to a percentage (50% or less) of the employers contributions to it’s employees health insurance premiums.

Sounds Good Right?

Not quite, there’s a caveat to the Obamacare small business tax credit. Businesses that pay their employees a smaller amount get a larger tax credit, and businesses that pay higher wages get a smaller tax credit. The amount of the tax credit is phased out by a ratio of the employers average annual wages. An employer that has average annual wages of $25,000.00 would receive a tax credit equal to 50% of the employers contributions to it’s employees health insurance premiums. If the employer has average annual wages of $35,000.00 the tax credit is reduced to 20%. If the employers average annual wage is $50,000.00 they are not eligible for the tax credit.

[MissyMack66]

The Bill needs to be repealed or have serious slicing, it’s crippled industry and tax payers in MA.

[PugetSoundSoldier]

Makes perfect sense, after all we don’t want another Silicon Valley, Microsoft, Intel, or other tech firm to succeed because they’re usually founded and run by educated, non-African people! Having a constant tax credit for all small companies would be racist!

[Nachum]

The list, ping

[Arthur Wildfire! March]

Added to Obama-nomics research. [link in profile attic]

[Mike Darancette]

The Bill needs to be repealed or have serious slicing, it’s crippled industry and tax payers in MA.