Job Creators Give Obamacare a Big Thumbs-Down
An article in the Wall Street Journal this morning speaks to the ill effects Obamacare is having on businesses around the country. Among some of the reactions to the law’s employer mandate, and its impact on small business franchisees:
- “McDonald’s Corp. Chief Financial Officer Peter Bensen told analysts last week that the law will add between $10,000 and $30,000 in added annual costs to each of the 14,000 McDonald’s restaurants in the U.S., 89% of which are franchisee-owned.”
- “Many of our franchisees will struggle with how to reconcile the financial implications…and will likely take other measures to reduce costs,” according to Steven Wiborg, head of Burger King’s North American operations
- Randall Tabor, who owns two Quizno’s shops in Virginia, told the Journal that when it comes to Obamacare, “I don’t have the profit margin to pay for it.” And because the law imposes penalties on firms with more than 50 full-time workers, “Mr. Tabor, who employs 36 people at his two Quiznos shops and another restaurant, wants to stay small so he doesn’t trigger the requirement.”
These are the effects of just one of Obamacare’s more than trillion-dollars in new taxes. With job creators openly admitting that the law’s perverse incentives are discouraging them from hiring, it’s obvious that the economy will not fully recover from its current downturn unless and until Obamacare is fully repealed.