By Tom Quiner
In a typical economic recovery, the economy starts growing and eventually job creation follows suit.
I’m not overly optimistic about the likelihood of a robust surge in job creation because of Obamacare.
Let’s say you’re a small business owner with 47 employees. Obamacare creates a disincentive to add new employees, because once you hit 50 employees, you must provide health insurance or face stiff fines.
In other words, Obamacare increases the cost (and risk) of expansion.
The President is now telling health insurance companies how much profit they can earn, something marketplaces used to do with the oversight of state insurance commissioners. So what’s wrong with that? For one, it’s none of the federal government’s business. For another, insurance companies will be forced to cut benefits and even abandon unprofitable states. Consumers will have fewer choices, which leads to higher costs for employers to insure their employees.
What a job killer!
Obamacare has created tremendous uncertainty with employers. Uncertainty is the ultimate kiss of death for job growth.
Obamacare is poison to anyone looking for a job or fearful of losing their job.