Obamacare Impact: Small Businesses Hurt by Obamacare.
Mike G is a small business owner. Read his story about how Obamacare is taking money out of his pocket.
Last year I was robbed of $4,600, I am currently being robbed as I speak, and my employees who have health insurance are also being robbed. In fact did you know that over a million small family run businesses that provide health insurance for their employees are also being robbed at this very moment?
We can’t call the police we can’t call the FBI, the CIA, Not even Superman or Captain Marvel can even help! We are being robbed due to the implementation of the Patient Protection and Affordable Care Act. Which was created by the new Super Hero of the far left we will call him Captain, Captain Chaos.
The Patient Protection and Affordable Care Act unjustly discriminates against small family businesses that provide health insurance for their employees and their family members who work for them. LET ME EXPLAIN!
As we watched the debate over health care unfold, the one thing that Captain Chaos kept on repeating over and over, was the provision in the law that allowed for a 35% tax credit for small businesses. My agent informed me that when the law goes into effect my premiums would sky rocket. That is why the tax credit was written into the law.
So, in 2010 the first phase of the law took effect the result of this first phase caused a 22% increase in our premiums, half of which I pay and half the employee pays. This amounted to $5600.00 more than the previous year right out of my pocket. Not to mention the hit my employees also took. The cost to my employees ranged from $200 to $1300 a year, depending on their age.
So come tax time I go see my accountant and tell him I want to take the credit for health insurance premiums, he says lets back up a bit and read the details in that provision of the law.
The provision states that the employer and any relative who works for the employer are exempt from taking the tax credit. (Being exempt from a tax is a good thing, but being exempt from a tax CREDIT is a bad thing.)
Well my friends that’s 70% of the people on the plan. If I could have been able to use the tax credit, it would have amounted to around $5300 it would be almost equal to the increase in premiums. But instead I end up with less than a $1000 credit and now I am out $4600 plain and simple I was robbed thanks to Captain Chaos’ new patient protection and affordable care act.
Remember when Captain Chaos finally admitted that shovel ready jobs weren’t really that shovel ready. So too will he soon confess that the Patient Protection and Affordable Care Act really isn’t that affordable.
This is nothing more than extortion; I am left with three options.
• I can pay the increase.
• I can water down the benefits you know to one of those plans with a $10,000 deductible, and a 60/40 co-pay,
• I can just cancel the Insurance and let everyone fend for themselves for the next two years until the Act becomes fully implemented.
That’s provided that the Supreme Court rules the law constitutional. Which we hope is not the case.
But if the Supreme Court rules in favor of the Left. It will no doubt motivate us even more to show up at the polls in November to make it a clean sweep by taking the House, Senate and the Presidency, making way for the full repeal of the Patient Protection and Affordable Care Act once and for all. And allowing for full reparations to small family businesses form the extortion perpetrated upon them by the Obama Presidency.
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