Yet Obama insists happy days are here again, and here to stay, thanks to his signature legislation.
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As President Obama did his victory dance Tuesday amid better-than-expected (reported) enrollment in his namesake Obamacare, the Affordable Care Act’s health insurance tax looms in the shadows. Its $100 billion impact over the next 10 years, business advocates say, could ultimately hurt people Obamacare claims to help.
In a Wall Street Journal op-ed, Bernie Marcus, co-founder and former chairman and CEO of Home Depot, asserts small and mid-sized businesses will bear the brunt of the health insurance tax — known as HIT in business circles — and “Many will be forced to raise their employees’ share of premium payments or, worse, lay off workers to pay the escalating costs of health care for their core employees.”