Skip to comments.“I sold my business because of Obamacare.” ["I can't be responsible for every undercapitalized..."]
Posted on 03/16/2014 1:29:38 PM PDT by grundle
I sold my business because of Obamacare.
I opened my restaurant, Schus Grill & Bar, in 1990. Theres no question that the new health law has impacted not only my current business but future projects, too, to the point where I sold my restaurant in January and Im in the final stages of moving on. I wont be working in a brick-and-mortar business and putting people to work. Ive chosen to go into consulting for myself and the ACA was one of the reasons, though not the only reason.
During our busy season, we are well over the 50 full-time employee threshold, which meant we had to offer private health insurance under the new law. As a small-business owner, I dont have a chief financial officer and the paperwork required would have added probably another 20 hours per month to my accounting staff. We didnt have the dollars to put into those additional labor hours.
It would have actually cost me all the profit I generated from the restaurant. Profit is not a dirty word. Its important to survive.
Before the ACA, we already offered private insurance to our employees and we paid 50% of their policies, which would have cost us $150 a month per worker. But we hired a lot of young professionals who were 27 or 28 years old and they would opt out of medical insurance because they said they didnt need it. Thats the irony.
Yes, they extended the deadline for small-business owners to comply with the ACA until 2016. They bought more time, but unless theres an evolution in the policy, its still unacceptable.
Larry Schuler, 50
St. Joseph, Mich.
(Excerpt) Read more at finance.yahoo.com ...
"I can't be responsible for every undercapitalized entrepreneur in America."
I'm sure she and other supporters of Obamacare have the same contempt for the guy in this article.
The title that I posted here is actually the sub-title from a larger article - I hope the mods are OK with that.
Larry is related to Win Schuler, who ran a great restaurant “Win Schuler’s” in Marshall, Michigan. Long time successful business.
I’m not sure that I’m buying that 20 hours per month for his accounting staff represents all of his profit, but no doubt that his costs have gone up and business is still down.
He jumped at the right time. With new rules on non-exempt employees, lots of small businesses and restaurants are going to go belly up. Obama thinks that business owners will just pay the overtime and Democrats will be elected in perpetuity by grateful workers. That won’t happen.
“Profit is not a dirty word. Its important to survive.”
Exactly. But don’t expect the typical Maobama voter to understand this basic concept of economic reality as this video illustrates:
A question for the libs: Just how do you expect an economy to flourish when you punish business activity with taxes, regulations, punitive energy policies, crippling labor policies, and mandated benefits? On top of that, add arbitrary and capricious changes to these policies, just so businesses cannot even make concrete plans. Oh, and lets not forget massive federal debt and an out of control monetary policy.
“All lies!” - Dingy Harry
The trick is they don’t expect an economy to flourish.
They want it to founder with them in charge.
At the link there are two pro-Obamacare examples and two anti-Obamacare examples.
The pro-Obamacare examples are fairly rare and probably less than 3% of Americans can relate to these people.
OTOH. The anti-Obamacare examples are pretty common place. A 30 yo single student who can’t afford the Affordable Care Plans.
And the small business owner who has opted to sell the business. (before it goes under)
I’m from Battle Creek. Went to that restaurant many times.
I took it to mean the new healthcare coverage AND the extra 20 hours would take up the entire profit.
You are probably right. Most companies are going to have to reduce their contribution to health care costs. Those that pay it all will begin to pay only a part. Those that pay a part, will shift it all to the employee. Those that offer none, will get nailed with overtime.
Obama, driving people out of business Nationwide.
Fast forward some 20 or so years, and I'm working at the Eaton plant in Marshall, so got to know Schuler's pretty well. I also worked a short time at the Eaton plant in Battle Creek. Both plants are now gone, I know. I lived in Dexter Lake apartments on East Michigan Ave for a year or two, before moving out to a place on A Drive N, technically Ceresco. Left Michigan in '84. Fond memories all around. Did you ever eat at Emilio's Mexican restaurant? Known to be authentic, the health department would shut him down periodically.
My elementary school years were in Holland, Michigan. Lakeview Elementary (32nd St. and Lugar Road) and EE Fell Jr. High. The Jr. High is condos now, I think. The elementary school is still an elementary school.
Another example of obamacare doing what it was designed to do: screw things up.
Everybody should do that. Let Obama take care of them. That is what I tell the cashiers when they say, “Want to donate your change to charity?”. I reply, “No, let Obama take care of them”.
I cut my health insurance premium payments by about two-thirds thanks to Obamacare.
I suspect the only people hurt by Obamacare were those who weren’t paying their fair share with their old policies, whereas I was heavily subsidizing those people under my old policy.
So I love Obamacare.
Wow I remember Win Schuler’s from my time in Mich in the 60s and 70s. Great place.
I went to school with Larry, he was a grade behind me.
I wondered if it was the same Schuler family.
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