I was reading a comment to an article just now. The poster said that if Obama won taxes would increase only on those earning over 250,000.00 yearly. that is so false. Here is a summary of the costs of obamacare hidden inside the bill no one could read before passing it-Obamacare taxes.
What so many people don't understand is that the economy is a net zero environment. Economic activity moves money around but does not create net wealth for the society unless that society is producing more goods and services. When taxes are taken out of teh economy that means less take home money for everyone. The individual imagines tax is only taken out of their paycheck and that is the only burden they bear. Wrong!
Every worker bears the costs for the employer's share of Social Security, for their supposedly free health benefits and for any other costs in doing business. I RAN a business billing out nearly 5 million dollars yearly. I can tell you exactly the impact on employees. We paid our employees' health insurance premiums, and they rose 10% while our billing remained flat. We passed part of that to the employee by charging 100.00 monthly for premiums (we paid the difference) and by not giving raises that year. Or the year before. And I was not an ogre. Our cash bonuses ran about 1500.00 per person per year. But we could not give a raise. Or hire another person.
Where do you think the money comes from for all these fees and taxes? People wave their hands vaguely, but it all comes out of OUR hides. Every employee as well as every employer. And Obamacare is ruinously expensive in direct costs.
That is why businesses large and small are planning on how to avoid the program. And why they are praying for a Romney victory.
Ted
What so many people don't understand is that the economy is a net zero environment. Economic activity moves money around but does not create net wealth for the society unless that society is producing more goods and services. When taxes are taken out of teh economy that means less take home money for everyone. The individual imagines tax is only taken out of their paycheck and that is the only burden they bear. Wrong!
Every worker bears the costs for the employer's share of Social Security, for their supposedly free health benefits and for any other costs in doing business. I RAN a business billing out nearly 5 million dollars yearly. I can tell you exactly the impact on employees. We paid our employees' health insurance premiums, and they rose 10% while our billing remained flat. We passed part of that to the employee by charging 100.00 monthly for premiums (we paid the difference) and by not giving raises that year. Or the year before. And I was not an ogre. Our cash bonuses ran about 1500.00 per person per year. But we could not give a raise. Or hire another person.
Where do you think the money comes from for all these fees and taxes? People wave their hands vaguely, but it all comes out of OUR hides. Every employee as well as every employer. And Obamacare is ruinously expensive in direct costs.
That is why businesses large and small are planning on how to avoid the program. And why they are praying for a Romney victory.
Ted
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