ObamaCare Taxing to Small Businesses

Democrats Celebrate ObamaCare’s Job-Destroying Impact on Small Businesses

• Democrats are celebrating last week’s Supreme Court decision on ObamaCare, but small businesses are rightfully fearful of ObamaCare’s destructive impact on job creation.
• ObamaCare is a proven job-killer that is preventing small businesses from growing and hiring new workers.
• Small businesses are already struggling under the Obama economy, but ObamaCare’s crushing regulations and taxes will only make life harder.

Democrats are celebrating last week’s Supreme Court decision on ObamaCare, but small businesses are rightfully fearful of ObamaCare’s destructive impact on job creation:

PELOSI HELD PARTY CELEBRATING OBAMACARE DECISION: (Luke Russert, “Pelosi to Hold Party Toasting Supreme Court Decision,” NBC, 6/28/2012)

OBAMACARE RULING “MAY STOP FRANCHISES FROM OPENING NEW STORES, CREATING NEW JOBS”: (Catherine Monson, “Why the Health-Care Ruling May Stop Franchises from Opening New Stores, Creating New Jobs,” The Washington Post,6/29/2012)

LAW IS “UNWORKABLE AND UNAFFORDABLE” FOR SMALL BUSINESSES: “While it may have been ruled constitutional, the Affordable Care Act is truly unworkable and unaffordable for our country’s small business owners – particularly franchise owners.” (Catherine Monson, “Why the Health-Care Ruling May Stop Franchises from Opening New Stores, Creating New Jobs,” The Washington Post,6/29/2012)

U.S. CHAMBER OF COMMERCE: “FUNDAMENTALLY FLAWED” LAW WILL “UNDERMINE JOB CREATION”:  “Legislative changes and genuine reforms now urgently needed… the health care law is fundamentally flawed. Left unchanged, it will cost many Americans their employer-based health insurance, undermine job creation, and raise health care costs for all. It is imperative that policymakers and the business community now work together to develop and support genuine reforms…” (“U.S. Chamber Will Continue Efforts to Improve the Health Care System,” U.S. Chamber Of Commerce, 6/28/2012)

NATIONAL FEDERATION OF INDEPENDENT BUSINESS: OBAMACARE IS “RESULTING IN JOB LOSS AND CLOSED BUSINESSES”: “…small-business owners are going to face an onslaught of taxes and mandates, resulting in job loss and closed businesses. We will continue to fight for the repeal…” (“Supreme Court Ruling Limits Freedom, Strengthens Government,” National Federation Of Independent Business, 6/28/2012)

NATIONAL ASSOCIATION OF MANUFACTURERS: “ESCALATING HEALTH CARE COSTS ARE JOB KILLERS”: “Escalating health care costs are job killers, forcing manufacturers to pay more in premiums rather than investing in their business and creating jobs… it is essential that Congress repeal the law and replace it with reform that benefits manufacturers and their employees.” (“Affordable Care Act Ruling Isn’t the End of Efforts to Lower Health Care Costs,” National Association Of Manufacturers, 6/28/2012)

INTERNATIONAL FRANCHISE ASSOCIATION: “3.2 MILLION JOBS AT FRANCHISE BUSINESSES CONTINUE TO BE PUT AT RISK”: “…the law is unworkable, unaffordable and wrong for our country’s small business owners who continue to struggle in a still sluggish economic climate… 3.2 million jobs at franchise businesses continue to be put at risk due to the employer mandate provision, thereby discouraging and disincentivizing the creation of new jobs and business expansion.” (“High Court Ruling Puts Jobs at Franchise Businesses at Risk,” International Franchise Association, 6/28/2012)

NATIONAL RETAIL FEDERATION: “LAW WILL HAVE A DRAMATIC, NEGATIVE IMPACT”: “This law will have a dramatic, negative impact on every employer and employee in the United States and further constrain job creation and economic growth.” (“Retailers Dismayed by Supreme Court Decision,” National Retail Federation, 6/28/2012)

NATIONAL COUNCIL OF CHAIN RESTAURANTS: OBAMACARE “WOULD DO SIGNIFICANT HARM TO JOB GROWTH AND THE ECONOMY”: “…the law would do significant harm to job growth and the economy… Many chains have indicated they will have no choice but to cut back on workers’ hours or close restaurants in order to avoid the penalties.” (“Chain Restaurant Industry Laments Supreme Court Decision,” National Council Of Chain Restaurants, 6/28/2012)

“SUPREME COURT DECISION FORCES US TO RETHINK INVESTMENT, HIRING PLANS”: (Kurt Summers, “Texas Small Business Owner: Supreme Court Decision Forces Us to Rethink Investment, Hiring Plans,” The Washington Post,6/28/2012)

ObamaCare is a proven job-killer that is preventing small businesses from growing and hiring new workers:

OBAMACARE “DISCOURAGES JOB CREATION BY RAISING THE PRICE OF HIRING”: “The ACA discourages job creation by raising the price of hiring. This is basic economics. If you increase the price of labor, companies will buy less of it. Requiring employers to buy health insurance for some workers makes them more expensive, at least in the short run. Particularly vulnerable are low-skilled workers…” (Robert Samuelson, “The Folly Of Obamacare,” The Washington Post, 6/17/2012)

CONGRESSIONAL BUDGET OFFICE: OBAMACARE TO DESTROY 800,000 JOBS: QUESTION: “…that means that in your estimation, the health care law would reduce employment by 800,000 in 2021; is that correct?” DOUGLAS ELMENDORF, CBO Director: “Yes.” (Remarks from Douglas Elmendorf, House Budget Committee Hearing, 2/10/2011)

UBS RESEARCH: OBAMACARE IS “ARGUABLY THE BIGGEST IMPEDIMENT TO HIRING”: “Arguably the biggest impediment to hiring (particularly hiring of less skilled workers) is healthcare reform… By raising the cost of labor, healthcare reform systematically discourages hiring, especially of low-wage workers whose mandated benefits are high relative to their wages.” (“Great Suppression II,” UBS Research, Pgs.1, 5, 9/19/2011)

PRESIDENT, FEDERAL RESERVE BANK OF ATLANTA: COMPANIES NOT HIRING DUE TO HEALTHCARE COSTS: “We’ve frequently heard strong comments to the effect of ‘my company won’t hire a single additional worker until we know what health insurance costs are going to be.’” (Remarks from Dennis Lockhart, Federal Reserve Bank of Atlanta, 11/11/2010)

Small businesses are already struggling under the Obama economy, but ObamaCare’s crushing regulations and taxes will only make life harder:

AT LAST COUNT, OBAMACARE REGULATIONS AT 5,931 PAGES: (David Hogberg, “ObamaCare’s 5,931 Pages of Regulations,” Investor’s Business Daily, 3/23/2012)

73% OF SMALL BUSINESS JOB CREATORS CITE OBAMACARE AS AN “OBSTACLE TO HIRING NEW WORKERS”: (Peter Schroeder, “Survey: Uncertainty, Gas Prices Slowing Hiring by Small Business,” The Hill, 4/16/2012)

21 OBAMACARE TAX HIKES IN EFFECT OR ON THE WAY: (“Supreme Court’s Health Law Decision Leaves in Place 21 Tax Hikes Costing More Than $675 Billion,” House Committee on Ways and Means, 6/28/2012)

NEW ESTIMATE OF JUST PART OF THE OBAMACARE TAX HIKES IS ALREADY AT LEAST $675 BILLION: (Thomas A. Barthold, “Revenue Estimates,” Joint Committee on Taxation, 6/15/2012)

JOB CREATORS ARE ALREADY STRUGGLING IN THE OBAMA ECONOMY

“US MANUFACTURING SHRINKS FOR THE FIRST TIME IN 3 YEARS”: “U.S. manufacturing shrank in June for the first time in nearly three years, a troubling sign that the economy is faltering.” (Christopher Rugaber, “Updated: US Manufacturing Shrinks for First Time in 3 Years,” Associated Press, 7/2/2012)

“SMALL BUSINESSES HAVE LOWERED THEIR HIRING EXPECTATIONS” DUE TO WEAK ECONOMY: “U.S. small businesses have lowered their hiring expectations as their confidence in the economy has fallen into another mid-year slump, a new survey showed on Monday.” (“Small US Firms Lower Hiring Expectations,” Reuters, 7/2/2012)

“CONSUMER SPENDING IN U.S. STALLS AS HIRING WEAKENS”: “Consumer spending stalled in May as stagnant wages and slackening employment held back the biggest part of the U.S. economy.” (Alex Kowalski, “Consumer Spending in U.S. Stalls as Hiring Weakens,” Bloomberg, 6/29/2012)

“ECONOMY GROWING TOO SLOWLY TO LIFT US JOB MARKET; ANOTHER MONTH OF WEAK HIRING EXPECTED”: “The U.S. economy is growing too slowly to pull the job market out of a slump, according to the latest data that suggest June has been another weak month for hiring.

“Applications for unemployment benefits stayed above a level last week that is generally considered too high to lower the unemployment rate. And the annual growth rate for the U.S. economy in the January-March quarter was unchanged at a tepid 1.9 percent.” (“Economy Growing Too Slowly to Lift US Job Market,” Associated Press, 6/28/2012)