Here is what appeared on this blog March 24th:
Remember it is a lot cheaper to pay the fine than to actually cover the employee, so who is going to have to pay that cost? Back to Dennis:
Next year you’re going to have to purchase the insurance yourself or pay a large fine and face the possibility of prosecution and imprisonment.
So the end result thousands of dollars spent by people on health insurance that will not be spent on other things, like vacations, or restaurants, or that x-box 360 or COLLEGE or the MORTGAGE.
Well look at what it at Hotair today:
It’s not just the calculus of mandates and penalties that has employers considering the option of dumping health care and paying more in salaries instead. The mandate to keep “children” on plans until the age of 26 has employers seeing a steep cost curve. For Caterpillar alone, the 26-year-old mandate will cost over $20 million a year. Under those conditions, the penalties look pretty good. Add on the “Cadillac tax” on some health plans and the expected jump in medical costs from providers dealing with their own set of mandates, and health insurance looks like a very bad risk.</blockquote
They link to this story that says:
Internal documents recently reviewed by Fortune, originally requested by Congress, show what the bill’s critics predicted, and what its champions dreaded: many large companies are examining a course that was heretofore unthinkable, dumping the health care coverage they provide to their workers in exchange for paying penalty fees to the government.
And if that doesn’t do it check this article:
Section 9006 of the health care bill — just a few lines buried in the 2,409-page document — mandates that beginning in 2012 all companies will have to issue 1099 tax forms not just to contract workers but to any individual or corporation from which they buy more than $600 in goods or services in a tax year.
The stealth change radically alters the nature of 1099s and means businesses will have to issue millions of new tax documents each year.
This is a business killer, a large corporation has the staff already doing this kind of thing but smaller business will be paying the price helping to drive them away. I thought the democrats were against large corporations? Amazing how CNN never figured this out before the vote huh?
Remember America, we (collectively) elected these clowns. You wanted Barack Obama and the democrats you’ve got them. Enjoy!
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