Saturday, November 21, 2009

ObamaCare: Friend of BigBiz

Wonder why big businesses are not adamantly opposed to ObamaCare?

Because it will enormously burden, or eliminate, small businesses.

...2,074 pages are just the beginning. It is fair to say there will several times that number of pages of regulations delineating who must do what, when and where. There will be dozens of new bureaucracies created generating hundreds of new forms and reports which must be filled out.

A glimpse at the future is the current structure for retirement plans under ERISA. It is almost impossible to do the calculations and prepare the tax filings without the help of a specialized benefits administrator. [Hell, I know of CPA firms which have to use outside consultants to fill out ERISA and 'high-earner' pension plan paperwork.] The cost is in the thousands of dollars even for a small employer.

Under Reid's bill, and the House version, employers of all sizes will have to hire someone -- either on staff for larger companies or third party vendors for small employers -- to navigate the new health care regulations, reporting requirements, and tax provisions. This bill will create jobs, but in the least productive sectors of our economy.

When the Doyle-ites tell you that 'the tax burden is NOT high' here (for corporations), they say that for a reason. Leave aside the relative value of "high."

It's the REGULATORY burden, imposed by both the State and the Feds, which kills small business, and drives up costs for larger ones. DNR, Wis. D of Rev (which does not 'Federalize'), UC filings, local permits, all add up. Fast and large.


Anonymous said...

Small business won't be eliminated. As others have said, they will drop coverage and push their employees onto the public plan. It will be far cheaper for them.

Beer, Bicycles and the VRWC said...

That's the plan. The Leftists don't have o implement a socialized system. Just make it so no one can stay on a private system....except government.


If this is such a great deal, why is congress exempt?