With all of the problems associated with Obamacare and the failed rollout of the online signup program, President Obama has left small business owners in a paradox that could be very costly to them.
In a move that Obama says will help small business owners; he delayed the launch of an online healthcare exchange for them for a year. But like many private individuals, many small business owners are finding that their policies are being cancelled due to the requirements imposed by Obamacare. This is leaving small business owners with no insurance for them or their employees and no access to an exchange program for a year.
House Speaker John Boehner (R-OH) issued this statement concerning the issue:
“The president bit off more than he can chew with this health care law, and small businesses are now forced to bear the consequences. Business owners across this country are already having health care plans for their employees canceled by this law, and now they’re told they won’t have access to the system the president promised them to find them different coverage. Instead, they’ll have to resort to a system you’d expect to see in the 1950s. It’s another broken promise and more proof this administration’s assurances have no credibility. This law has been an absolute disaster, leaving us to ask ‘what’s next?’ If the president won’t repeal it, he should at least delay the entire law before it wreaks any more havoc on American families and small businesses, as well as our economy.”
At a time when the economy is still struggling and many small business owners are barely keeping their businesses running, this insurance nightmare may be more than some can bear. Obama has repeatedly promised to help small businesses, but his actions say otherwise.
Earlier this year, small business owners were facing a number of tax increases that Obama instituted. If a small business owner makes $250,000 or more a year, they faced combined tax increases of 6%-10%.
Obama has also been pushing to increase the minimum wage from $7.25 per hour to $9 per hour. In August, Barbara Boxer (D-CA) wanted the minimum wage pushed up to $10 per hour. Fast food workers belonging to unions, most of which are Democrats and followers of Obama were pushing for minimum wages of $15 per hour.
Between increased taxes, possible increase in minimum wage and decreased retail sales, the healthcare insurance nightmare of having policies cancelled and no way to sign up for new coverage for a year can and probably will be the breaking point for some small business owners. Clearly, Obama and fellow Democrats continue to do their best to destroy small business owners and take the rest of America down with them.