Bombshell: Figuring Out Obamacare's Tax Rules Will Cost 80 Million Hours

A week after small businesses warned that Obamacare taxes will eat up to half of their profits, a new government report reveals that simply complying with the new tax rules in the health care act will cost American families and businesses nearly 80 million hours--essentially a whole new tax.

So, what can be done in 79,229,503 hours? The Empire State building, which took 7 million man-hours to build, could be constructed 11 times. The Curiosity Lander could travel from Earth to Mars 13,048 times. Halley's comet, seen from Earth once every 76 years, could be spotted 119 times.

Click to expand...

First, there will be significant decline in employer-provided coverage and the small business incentive will be ineffectual. Second, there will be significant non-compliance among individuals and families through the failure to purchase coverage until needed, the over-statement of health insurance tax credits( good faith and otherwise ), and a longer term reduction in tax refunds that will increase IRS collection issues as a result of more "balance due" tax returns.

Click to expand...