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Hey, anybody remember this?
Yeah. Reality comes along once again to demonstrate that, when it comes to economics, these people have no idea what they are talking about:
Yeah. Reality comes along once again to demonstrate that, when it comes to economics, these people have no idea what they are talking about:
Forty-one percent of the businesses surveyed have frozen hiring because of the health-care law known as Obamacare. And almost one-fifth—19 percent— answered "yes" when asked if they had "reduced the number of employees you have in your business as a specific result of the Affordable Care Act."...
"We were startled because we know that employers were concerned about the Affordable Care Act and the effects it would have on their business, but we didn't realize the extent they were concerned, or that the businesses were being proactive to make sure the effects of the ACA actually were minimized," said attorney Steven Friedman of Littler Mendelson. His firm, which specializes in employment law, commissioned the Gallup poll...
Another 38 percent of the small business owners said they "have pulled back on their plans to grow their business" because of Obamacare.
Those are "some pretty startling answers," Friedman said....
Just 9 percent of the small employers surveyed agreed that Obamacare would be "good for your business," while another 39 percent saw "no impact."
The prevalent pessimism tracks other answers in the poll, which showed that 55 percent of small business owners believe that the ACA will lead to higher health-care costs. By contrast, about 5 percent said the law would lead to lower costs.
And more than half—52 percent—said they expected a reduction in the quality of health care under Obamacare, while just 13 percent expected an improvement....
In addition to restricting hiring or cutting jobs, small companies are considering other ways to mitigate the expected financial fallout. Twenty-four percent are weighing whether to drop insurance coverage, while 18 percent have "reduced the hours of employees to part-time" in anticipation of the ACA's effects, the poll found.....