Here's are some Obamacare statistics that have not been
well publicized - for obvious reasons. A study done by the center right
American Action Forum found that 300,000 jobs have been lost due to rising
insurance premiums and Obamacare regulations, costing workers $19 billion in
lost wages.
The report also found that 10,000 small businesses were
forced to close their doors because of the ACA.
“Research from the American
Action Forum (AAF) finds regulations from the Affordable Care Act (ACA) are
driving up health care premiums and are costing small business employees at
least $19 billion in lost wages annually,” the report said. “These figures
varied by state, but in 2015 the ACA cost year-round workers $2,095, $2,134,
and $2,260 in Ohio, New York, and North Dakota, respectively.”
“Premium increases, a prospect
regulators predicted when issuing the first ACA regulations, also significantly
diminished the number of business establishments and jobs nationwide,” the
report said. “Across the country, small businesses (20-99 workers) lost 295,030
jobs, 10,130 business establishments, and $4.7 billion in total wage earnings.
Florida lost 17,950 jobs; Ohio lost 19,000; Pennsylvania lost 15,680; and Texas
lost 28,010 jobs due to higher sensitivity to rising health care premiums and
the ACA.”
Ben Gitis and Sam Batkins, the
authors of the report, used data from the U.S. Census Bureau, the Medical
Expenditure Panel Survey, and the Bureau of Labor Statistics for their
findings.
The report used different data
sets for small businesses with less than 50 employees, which were exempt from
the law’s employer mandate. However, this group also suffered job losses
and lower wages after Obamacare went into effect. The paper compared data from
up to six years before the law was passed to show a clearer picture of
Obamacare’s impact on small business.
Before Obamacare became
law, workers still saw an increase in their average weekly pay when health
insurance premiums went up.
“After the ACA became law, however,
a one percent increase in total premiums was associated with a 0.012 percent
decrease in average weekly pay,” the report said.
The numbers add up to roughly
$3.9 billion in lost wages for small businesses with between 20 and 49 workers,
which account for 20 million workers in the United States. The average
worker for those businesses has lost $1,202 in annual pay.
The authors found that Obamacare has cost the economy a net
$51 billion dollars and regulations added an astonishing 172 million hours in paperwork
for American businesses.
Again, this had been widely predicted prior to the passage
of the Affordable Care Act. And it wasn't just Republicans who predicted
catastrophe. In 2014, tne Congressional
Budget Office forsaw a job loss equivalent to 2 million.
The myth that Obamacare would actually create jobs and have little impact on
small business has been irrevocably shattered.
Obama will turn out to be the worst small business
president in history, overseeing a government that made it much harder for
small businesses to get going while adding thousands of hours per business per
year in paperwork burdens.
This is a president that talked a good game when it came to
creating good jobs but ultimately failed to deliver.
Read more: http://www.americanthinker.com/blog/2017/01/report_obamacare_cost_small_businesses_300000_jobs.html#ixzz4W8CKgRjd
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