2014: Who Will the Clueless Blame When Obamacare Kicks In?
There’s a New York Times story on health care. There’s two or three of these stories today, Wall Street Journal, New York Times, all about what’s coming in 2014. I have to say as an aside, everybody in the news business writing these stories knew three years ago this was going to happen. They’re writing these stories as though this is newly discovered information. But everybody knew, because there were debates about this within the media. I know there’s some ignorance and some willing blindness in the media, but for the most part with exceptions, they knew. Everything in this health care plan that was reason to oppose it, they knew it.
So all these stories that are appearing, like today there’s a bunch of them, on all the surprises coming in Obamacare, they knew. Such as, do you realize that companies, what is it, with fewer than 50 employees or with employees who work 30 hours a week or less, don’t have to provide health insurance for their employees. Did you know that? This has been known since before the bill was signed into law. It has been known certainly since the bill was signed into law. The trades knew it, businesses knew it, health insurance companies knew it, the media knew it. Everybody knew it. It’s just being reported today as though it’s been discovered just today, or yesterday.
So the stories are appearing, and on the insurance side there’s a Wall Street Journal story and another publication about how premiums are going to go up anywhere from 20 to 100% next year, starting in January. The New York Times has a story about a bakery that, after Obamacare fully implements, will eat up over half of its profit, just a single bakery. And here are the numbers of this bakery in the New York Times story.
The premiums to cover their employees will cost $108,000 more a year than what they’re paying now. Stop and think of that, $108,000 additional dollars they’ve got to come up with in January to comply with Obamacare. Their profit, according to the New York Times, the bakery profit is $200,000 a year. So on one hand what they make every year on average, a couple hundred grand, starting in January their health care insurance costs go up $108,000. So over half of their profit gone to comply with Obamacare.