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PICKET: Companies plan massive layoffs as Obamacare becomes reality - Washington Times
Similar meetings have been held at my company already. There's tough news headed to 15% of our company right after the holidays. Oh, goody, I can't wait to deliver that news.
Our margins simply don't support the increases in per-employee-cost that Obamacare is going to bring on us, especially with the massive tax increases headed toward our business from the upcoming tax hikes.
Way too much attention is being paid to individual tax increases. It's small and medium size businesses that are going to be killed by all this. It won't be the wealthy that pay the lion's share of the new taxes, it'll be businesses. So that means layoffs, folks, and lots of them.
Unemployment is going to skyrocket, and a second and much deeper recession is likely right behind it.
It also means a near immediate impact on the economy. With 20 or so new or higher taxes set to be implemented, ranging from a $123 billion surtax on investment income, through the $20 billion medical device tax, all the way down to the $600 million executive compensation limit, Obamacare will be a nearly unbearable tax burden on the economy.
Who will pay? The middle-class workforce, of course.
Similar meetings have been held at my company already. There's tough news headed to 15% of our company right after the holidays. Oh, goody, I can't wait to deliver that news.
Our margins simply don't support the increases in per-employee-cost that Obamacare is going to bring on us, especially with the massive tax increases headed toward our business from the upcoming tax hikes.
Way too much attention is being paid to individual tax increases. It's small and medium size businesses that are going to be killed by all this. It won't be the wealthy that pay the lion's share of the new taxes, it'll be businesses. So that means layoffs, folks, and lots of them.
Unemployment is going to skyrocket, and a second and much deeper recession is likely right behind it.