Economics and Health Care
“Obamacare to cause massive job losses across food service industry” Many people claim that the Patient Protection & Affordable Care Act (PPAC), also known as “Obamacare” is the reason why our country continues to have the slow reaction it is having with increasing jobs nation wide but now it will also begin to affect the food service industry. Some company owners did not believe that such a law would impact their business the way it has and or will. The law requires companies with fifty or more employees to have more expensive health care insurance of about $2,000 to $3,000 per worker! It is said that such actions may actually keep small business owners from expanding beyond because they may not be willing to spend so much on health insurance for their employees. David Barr, a Taco Bell & KFC franchiser states that such actions will cut his profits nearly in half overnight! Some employers are seeking loopholes to avoid going ahead with this law. One thing that some worried business owners are doing is that they are cutting the workers hours so they are no longer eligible for the companies paid health care. But failing to comply with this law can lead to serious penalty under the provisions of Obamacare. It is shocking to find out the amount of money this law is costing some businesses but at the same time I do find it good that more people have insurance. Seeing this situation on the business owners side I would be upset if I had to spend more of the profits towards the employee’s health care, especially if I was already providing them with health care. But then again seeing things from the workers point of view I would be extremely happy about this law because it is very beneficial. Personally I do not think that this law should remain because it is helping provide insurance to 44 million people & is further on delaying our economy.