If you believe that large (25+ employees) companies are bad for America, then this is a great policy.
If, however, you believe the phrase “economic growth” kind of depends on the growth, then, maybe not so much.
Via Kiplinger.com, a listing of tax changes in ObamaCare. Amid the cacophony of government greed:
The new law gives small firms tax credits as incentives to provide coverage, starting this tax year.
Well that’s not so bad. What do they mean by “small firms?”
Employers with 10 or fewer workers and average annual wages of less than $25,000 can receive a credit of up to 35% of their health premium costs each year through 2013.
Oh. Huh. “Average wages” of $25,000 or less. So, that’s pretty much just part-timers, then? Or illegal aliens? Teenagers? Certainly this isn’t a plumbing business. Or construction. Nothing union, that’s for sure.
The credit is phased out for firms larger than that and disappears completely if a company has more than 25 employees or average annual wages of
$50,000 or more.
Um…uh-huh. Oooo-kay. So. You have 24 workers. Gonna hire that 25th and 26th?
Your business is growing quickly. Gonna give those employees bonuses that bring those average wages above $50,000?
That’d be a “no.” And another “no.”
The Obama Administration: we love economic growth. Just…without the “growth.”
UPDATE - y’know, part of me would like to see this make it into law and then stay in the law, just so we can quantify the effects. I wonder if we have detailed information on businesses like these now? The ones with only 10 employees, the ones that have grown from 20 to 30 employees, etc. We’d have a chance to really compare pre-ObamaCare and post-ObamaCare decision-making.
But, still, better that we do that “repeal and replace” thingie everybody’s talking about. There’s still the Free State Project, Trog-Style, to look forward to.
UPDATE II - Linked at Creative Minority Report.
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