Health Care Tax Could Cost Over 125,000 Jobs
The National Federation For Independent Business has just released a new study showing that as many as 125,000 jobs could be lost due to the looming Health Care Tax (Part of Obamacare)…and that number could exceed 240,000.
The study, known as the Business Size Impact Module, used a variety of criteria to determine what small businesses would do, and how they would be impacted by the size of the tax. Giving state by state breakdowns, the study shows small business would be negatively affected by this tax. The HIT (a rather appropriate abbreviation!) is part of Obamacare levied against insurance companies, and the costs will then be passed onto consumers–businesses, with 59% of the burden being felt by smaller companies. The higher insurance costs will not only cause companies to perhaps let employees go, but will also affect economic growth by cutting hiring. You hire people if you don’t have money to pay them because you are not growing.