This is the economic equivalent of getting in a fight for your life against a guy with a sword who cuts off your right arm. And you’re thinking, “Damn, I really needed that arm.” Only it’s the economy fighting to live and Obama’s socialist takeover of health care is the sword.
FOR IMMEDIATE RELEASE
Jenna Weisbord, 202-662-0766
WASHINGTON, April 24-Today, the Wall Street Journal reported that the 2014 U.S. Bank Small Business Annual Survey found that, “In January, nearly half of small-business owners with at least five employees, or 45% of those polled, said they had had to curb their hiring plans because of the health law, and almost a third – 29% – said they had been forced to make staff cuts, according to a U.S. Bancorp survey of 3,173 owners with less than $10 million in annual revenue that will be released Thursday.” (Sarah Needleman & Angus Loten, “Small Businesses Find Benefits, Costs As They Navigate Affordable Care Act,” Wall Street Journal, 4/23/14)
This research aligns with a November 2013 study conducted by Public Opinion Strategies on behalf of the International Franchise Association and the U.S. Chamber of Commerce, which found that 31 percent of franchise businesses have already reduced worker hours.
Both pieces of research support bi-partisan efforts to return to the traditional definition of full-time employment under the ACA. This month the House of Representatives passed the Save American Workers Act, sponsored by Rep. Todd Young (R-IN). Similar legislation was introduced in the Senate by Senators Susan Collins (R-ME) and Joe Donnelly (D-IN).
Below are highlights of the study:
U.S. Bank Small Business Survey Finds “Owners Remain Skeptical Of The Long-Term Impact Of The Affordable Care Act On Their Business” With More Than 60 Percent Saying It Will Be Negative For Their Business. “The 2014 U.S. Bank Small Business Annual Survey found that “slightly more than six in 10 owners now say the long-term impact of the Affordable Care Act will be negative on their business.” (2014 U.S. Bank Small Business Annual Survey, U.S. Bank, 4/24/14)
Nearly half of businesses with at least five employees (45%) say it has forced them to decrease forecasted new hires and almost one-third report it has led to cuts in staff (29%).
Larger businesses are more likely to have cut employee benefits or shifted the cost burden of higher benefits to employees as a result of the legislation.
The smaller the business the more likely they say the implementation of the Affordable Care Act has caused them to postpone or cancel planned investments in their business.
At least three out of five owners with a minimum of $1 million in revenue or five employees say the new healthcare law has resulted in higher premiums for their business.
Local Business Owner Tim Cain Argues That The Health Law Raises Operating Costs And “The Timing Couldn’t Be Worse.” “…if the number of enrollees in his health plans increases to 70 percent of his workforce, Mr. Cain estimates his costs could swell to more than $500,000. That might force him to raise prices, he says, at a time when the impact of this year’s harsh winter—and an extended drought in California—is already pushing up costs for fruit and vegetables. ‘The timing couldn’t be worse, really,’ he says.” (Sarah Needleman & Angus Loten, “Small Businesses Find Benefits, Costs As They Navigate Affordable Care Act,” Wall Street Journal, 4/23/14)
This survey echoes previous research conducted by Public Opinion Strategies on behalf of the IFA and the U.S. Chamber of Commerce.
According To A Public Opinion Strategies Survey, 31 Percent Of Franchise Businesses Have Already Reduced Worker Hours To Cope With Health Law. “Additionally, 27 percent of franchise and 12 percent of non-franchise businesses have already replaced full-time workers with part-time employees.” (Presentation of Findings From National Research Conducted Among Business Decision-Makers,” Public Opinion Strategies, 10/13)
Further, The POS Survey Found That More Than Half Of Businesses With 40 To 70 Employees Plan To Make Personnel Changes To Mitigate The Impact Of ACA. “Among businesses with 40 to 70 employees, 59 percent of franchise and 52 percent of non-franchise businesses plan to make personnel changes to stay below the 50 full time equivalent employee threshold. This accounts for 23 percent of all franchise and 10 percent of all non-franchise decision-makers surveyed.” (Presentation of Findings From National Research Conducted Among Business Decision-Makers,” Public Opinion Strategies, 10/13)
About the International Franchise Association
The International Franchise Association is the world’s oldest and largest organization representing franchising worldwide. Celebrating over 50 years of excellence, education and advocacy, IFA works through its government relations and public policy, media relations and educational programs to protect, enhance and promote franchising. Through its media awareness campaign highlighting the theme, Franchising: Building Local Businesses, One Opportunity at a Time, IFA promotes the economic impact of the more than 825,000 franchise establishments, which support nearly 18 million jobs and $2.1 trillion of economic output for the U.S. economy. IFA members include franchise companies in over 300 different business format categories, individual franchisees and companies that support the industry in marketing, law and business development.
ObamaCare is evil. It is simply evil. And evil laws have evil consequences.
Obama keeps assuring us that his fascist takeover of health care has reduced costs. His evidence? An idiot study by the CBO that revised a previous idiot study. (Let’s conveniently forget the fact that the CBO said costs would be lower than previously projected because people will get FAR crappier “health care” under ObamaCare than they had thought). The problem is that the real world doesn’t march to the goose step of either Obama or the idiots at the CBO. And actual businesses with actual employees who are on the verge of actually gutting their workforce to pay for this demonic law are screaming as their costs “necessarily skyrocket.”
Democrats are whining about a “war on women” – forget the fact that by their own rationale Obama is warring on women as his own administration pays women cents on the dollar earned by men – to distract people from their party’s WAR ON JOBS.
Obama has created a holocaust on jobs, which is why our labor participation rate – measuring the percentage of working-age adults who actually have a damn job in America – is at a historic low under his regime. It now stands as the worst it has been in 37 years. And Obama’s response is that it’s somehow Bush’s fault because it’s racist to hold him responsible.
The liars who gave us ObamaCare lied about EVERYTHING. Obama lied when he assured us it would get more popular over time; it has become LESS popular. He lied when he said it would bend the cost curve down (which he’s STILL falsely claiming); ObamaCare is MASSIVELY adding to the cost of healthcare – which is why businesses are faced with cutting hiring to pay the huge costs of this socialist mess. He lied when he said if you liked your doctor you could keep your doctor. And he lied when he said if you already had health insurance and you liked your plan you would be able to keep your plan rather than be forced to accept Obama’s damn plan.
This country is going down the toilet. The liberal socialist elites – who preach “redistribution of wealth” but mean, “redistribute THE PEOPLE’S wealth to US” by means of manipulating markets, interest rates, federal reserve policies and government regulatory burdens – are ensuring it.