Forbes Says Obamacare is “Punishing Working-Class Americans”!
In a recent article by Sally Pipes a contributing writer for Forbes, the issue of how Obamacare is affecting both working class Americans and those that are responsible for a company’s bottom line and also to their share holders.
The latest casualty to fall victim to Obamacare’s punitive mandates and regulations is the retail giant Staples, with its estimated 85,000 employees, who will now lose additional hours to comply with Obama’s healthcare law, which has redefined the 40-hour work week down to 30-hours, and in so doing has forced Staples and countless other retailers and business to readjust their work week, and in effect cut the working hours of their employees.
Of course the administration was quick to cast the CEO of Staples as the villain declaring “I haven’t looked at Staples stock lately or what the compensation of the CEO is, but I suspect that they could well afford to treat their workers favorably”, Obama went on and concluded his statement with…“shame on them”.
Obviously Obama knows little about Staples bottom line and the effect that online retail shopping is having on the giant retail chain, which does a lion’s share of its business within a conventional walk in trade. And while businesses are now subject to fines if they do not comply, which can amount to tens of thousands of dollars, with the average cost of providing employer health coverage exceeding over $6,000 from last year.
And while the administration loves to cast blame at Staples, there are currently over 450 private companies and government agencies that have also cut the hours of their employees to comply with the healthcare mandate. However there finally seems to be a growing consensus among some legislators and economists that the employee mandate is punishing working class Americans, where it counts the most, in the pocketbook.
And to that end the Supreme Court will on March 4th begin hearing arguments on whether the federal government can provide subsidies for insurance purchased though the federal exchange which by its own written verbiage within the law suggests it cannot. And if that ruling goes against the administration then by definition the 30-hour work week would no longer apply.