09-13-2012, 08:47 PM
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Join Date: Jan 2005
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Franchisors warn Obamacare will halve profits
Well the law of unintended consequences strikes again. Due to Obamacare people will lose hours at work, jobs and benefits. The results will be the opposite of the stated goals of the program.
This is what happens when people who have never run a popcorn stand create programs businesses they know nothing about.
Franchisors warn Obamacare will halve profits | WashingtonExaminer.com
Quote:
Barr has 23 stores with 421 employees, 109 of whom are full-time. Of those, he provides 30 with health insurance. Barr said he pays 81 percent of their Blue Cross Blue Shield policy, or $4,073 of $5,028 for individuals, more for families, for a total bill of $129,000 a year. Employees pay $995.
Under Obamacare, however, he will have to provide health insurance for all 109 full-time workers, a cost of $444,000, or two and half times more than his current costs. That $315,000 increase is equal to just over half his annual profit, after expenses, or 1.5 percent of sales. As a result, he said, "I'm not paying $444,000."
Providing no insurance would result in a federal fine of $158,000,
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"Some guys play in all-star games, some guys don't. I don't know who picks all those all-star teams. In all honesty, I don't know who picks the combine, for that matter," Belichick said. "How does (Miami-Ohio offensive lineman Brandon) Brooks not get invited to the combine? How did Vollmer not get invited to the combine? I don't know. We can't really worry about that. We just have to try to evaluate them the best we can."
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