Death by a Thousand Cuts for Small Business

Dear Policy Patriots - Think You Can Keep Your Insurance? Former CBO Director Says Don't Count on It. A recent study by former Congressional Budget Office (CBO) Director Douglas Holtz-Eakin reveals that ObamaCare's complex system of subsidies, penalties and regulations could result in employers dropping as many as 35 million workers from employer-provided health plans. In addition, Holtz-Eakin found that ObamaCare increases the taxpayer cost of health subsidies to $1.4 trillion. Small Business Trade Group Changes its Stance on ObamaCare Dan Danner, CEO of the National Federation of Independent Business, recently reversed the NFIB's position on ObamaCare and joined the growing number of states which are challenging the ObamaCare mandated health insurance requirement in court. In a recent Wall Street Journal article, Danner argued that ObamaCare is "death by a thousand cuts for small business owners." Consider that ObamaCare: Increases Overall Cost. The Congressional Budget Office recently revised its cost estimate, increasing original projections by $115 billion. The actual price is now estimated to be more than $1 trillion. Offers an Illusory Small Business Tax Credit. Less than one-third of small businesses qualify and ObamaCare guarantees the credit for no more than six years. Taxes Small Businesses. ObamaCare levies a new $8 billion tax which will be paid almost exclusively by small businesses and individuals. Imposes Costly New Regulations on Small Businesses. ObamaCare includes new IRS reporting requirements expected to result in another $17 billion of increased taxation. The frustrating reality of ObamaCare is that it hinders entrepreneurs' efforts to grow their businesses and, at the same time, fails to control the rising health care costs that limit growth. ObamaCare Increasingly Unpopular. Proponents of ObamaCare promised that Americans would support the bill after they learned what was in it. However, a recent Kaiser Family Foundation poll has revealed that the opposite is true: Americans are learning about ObamaCare... Last month, 55 percent said that they were confused about what the legislation means. Now, that's down to 44 percent. ...but the more they know, the less they like it. Strong opposition is rising, up to 32 percent this month, and strong support is falling, down to just 14 percent. In fact, according to Rasmussen Reports, 60 percent of Americans now support repealing ObamaCare entirely. NCPA Solutions Help You! The National Center for Policy (NCPA) continues to educate Americans about the risks and shortcomings of ObamaCare and to identify practical solutions to improving the U.S. health care system. You can find more NCPA solutions at John Goodman's Health Policy Blog or on the NCPA webpage. Our policy recommendations are only possible with your help. Please consider donating to the National Center for Policy Analysis. You can donate online or mail a check to: National Center for Policy Analysis P.O. Box 650098 Dallas, Texas 75265-0098 Thanks for your support! Warm regards, Jeanette Nordstrom National Center for Policy Analysis