The ugly chickens launched by the hatching of ObamaCare are beginning to come home to roost. More and more workers are having their hours cut to below 30 per week because full-time workers must receive health insurance, the cost of which cripples small businesses. The double whammy is this: not only are hours being cut, but jobs in general are being cut, as businesses that employ more than 50 people must also comply with ObamaCare regulations requiring health insurance for employees.
Those who lose their full-time jobs will have to look for two part-time jobs, which will enable the Obama Administration to claim that there are more jobs being created.
The decimation of small businesses with the advent of the ObamaCare regulations is the straw that breaks the camel’s back. Small businesses already are required to pay between 30 and 50% of what hey earn for taxes.
Meanwhile, huge corporations flourish. Google, for example, which made $9.8 billion in 2011, only paid 3.5% in taxes, as it banked its money in a Bermuda company and thus escaped paying $2 billion in taxes.
Less jobs, less hours. That’s the Obama legacy.