Another instance of a dumb political act that often comes from the left. From politicians who think of dumb tax legislation, in the hope that voters will think the tax will be against the employer, and not the public.
In one of the proposals for universal health care, by forcing every employer to insure its employees, those with as little as $400,000 annual payroll who don’t offer coverage, will pay an 8% penalty. The penalty will be 4% for payrolls between $250,000 to $400,000.
Labor is a major cost for most small, non-manufacturing businesses, The net, bottom line often does not exceed 5% or 10%. With an added health tax, many entrepreneurs who would love to insure employees when they want to attract them in a booming economy, will not be able to afford them.
Is this legislation for a recessionary economy in need of a genuine boost?
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