Posted on 03/16/2014 1:29:38 PM PDT by grundle
“I sold my business because of Obamacare.”
I opened my restaurant, Schu’s Grill & Bar, in 1990. There’s 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 I’m in the final stages of moving on. I won’t be working in a brick-and-mortar business and putting people to work. I’ve 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 don’t have a chief financial officer and the paperwork required would have added probably another 20 hours per month to my accounting staff. We didn’t 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. It’s 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 didn’t need it. That’s the irony.
Yes, they extended the deadline for small-business owners to comply with the ACA until 2016. They bought more time, but unless there’s an evolution in the policy, it’s still unacceptable.
Larry Schuler, 50
St. Joseph, Mich.
(Excerpt) Read more at finance.yahoo.com ...
“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.”
In my area so many businesses (especially restaurants) employ illegals as their workforce; I wonder if they’ll see any impact at all from ObamaCare. To combat the high taxes and onerous regulations, a large part of our economy is underground; I guess ObamaCare might spread that trend...
No bother to me, but I suspect the semi-personal chit chat is annoying to some readers ;)
Watch out, those Republicans will take away your health care and make you eat dog food to survive. Make sure you vote the right way now.
(/sarcasm off) maybe.
There appeared to be more than a couple of us from there, as it turns out.....
:^)
That was for insuring just me, not a family, in New York City.
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