The American Action Forum is reporting that Obamacare has cost roughly 300,000 small business jobs due to higher health care costs.
What a catastrophe!
The report found that ObamaCare cost the US $19 billion in lost wages per year. It forced 10,000 small businesses establishments to close their doors.
“Research from the American Action Forum (AAF) finds regulations from the Affordable Care Act (ACA) are driving up health care premiums and are costing small business employees at least $19 billion in lost wages annually,” the report said. “These figures varied by state, but in 2015 the ACA cost year-round workers $2,095, $2,134, and $2,260 in Ohio, New York, and North Dakota, respectively.”
“Premium increases, a prospect regulators predicted when issuing the first ACA regulations, also significantly diminished the number of business establishments and jobs nationwide,” the report said.
“Across the country, small businesses (20-99 workers) lost 295,030 jobs, 10,130 business establishments, and $4.7 billion in total wage earnings. Florida lost 17,950 jobs; Ohio lost 19,000; Pennsylvania lost 15,680; and Texas lost 28,010 jobs due to higher sensitivity to rising health care premiums and the ACA.”
That comes to roughly $3.9 billion in lost wages for small businesses with between 20 and 49 workers. That accounts for 20 million workers in the United States.
Obamacare has ALSO cost the economy $51 billion. It has added 172 million hours of paperwork through regulations, the report said.
“To put that in perspective, it would take more than 86,200 employees working full-time (2,000 hours annually) to complete a year of the new ACA paperwork, roughly the population of Miami Beach, Fla.,” the report said.
This is only a fraction of the damage done by this monstrosity. Premiums have skyrocketed while healthcare quality has crashed. Doctors have less time for patients as ObamaCare gave them a TON of unnecessary paperwork. Waiting times for senior citizens has almost tripled…and that I have seen with my very own eyes!
It is real simple. The Federal Government cannot micromanage. It has absolutely no business trying to deal with the nation’s healthcare. There was a very good reason the Founding Fathers found wisdom in the 10th Amendment. There is not much that government does well; it should stick to what it does and leave everything else alone.
Obamacare should be gone soon… I hope!
300,000 isn’t really much when you consider this report back in 2014 about total job losses:
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