New Report: Workforce Will Shrink by 2 Million Thanks to Obama’s
“Fundamental Transformation” of America
What’s in store for American jobs
over the next decade/ Well, if we keep Obamacare in its
current form, the outlook isn’t good. A new Congressional Budget Office released a report that paints a grim picture for jobs, and blames Obamacare as
the culprit:
ObamaCare will reduce work hours
equivalent to 2 million jobs in the next decade amid a host of incentives not
to work or to work less, a new Congressional Budget Office (CBO) report says —
the latest blow to President Obama’s signature health insurance plan.
The report
estimates the Affordable Care Act, or ACA, will make the labor supply shrink by
0.86 percent in 2025. This amounts to a shrinkage equivalent to approximately 2
million full-time workers.
The nonpartisan CBO estimates that
the decline will come primarily due to workers responding to changes made by
the law to federal programs and tax policy. The agency points to the
introduction of health care subsidies tied to income as a key factor — which in
turn raises effective tax rates as someone’s earnings rise, therefore reducing
the amount of work Americans choose to do.
Employers cut back hours to avoid
the cost of complying with Obamacare. Employees choose to work less and earn
less so they can receive a greater subsidy to afford Obamacare.
In the meantime, productive,
hard-working, profitable businesses and individuals get stuck with the bill for
Obamacare. Obamacare: Health care that doesn’t work that you can get for not
working.
Comments
Although
Congress passed a Bill to repeal Obamacare, it is likely to be vetoed. That leaves us with 2016 to suffer through
the job losses. If a Republican wins the
Whitehouse in November 2016, that candidate will likely approve the repeal of
Obamacare effective in 2017.
Norb
Leahy, Dunwoody GA Tea Party Leader
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