Besides robbing your family of basic medical care choice, the new Obamacare health plan passed by the Democratic Congress is expected to employ thousands of new IRS agents to track down Americans for payment of healthcare taxes. The cost of the greatest social spending program in the nation’s history is still under debate, but since the inception of Medicare in 1965 the cost of the program has grown 2.7% faster the economy and should reach 20% of America’s GDP within the decade.
Here’s an example. An employer with a number of chain restaurants employs nearly 1,000 full time and part time workers. Each worker generates $58,000 in revenue and that works out to a $3,000 profit per employee when salary, taxes and overhead are deducted. Under President Obama and Senator Manchin’s new government mandated healthcare program, Obamacare, this employer will be forced to pay between $7,000 and $10,000 more per employee. You don’t have to be a mathematics genius to understand this will just not work – and will cost jobs. In fact, the Congressional Budget Office now believes Obamacare will cost the economy more than 800,000 jobs!
According to the Heritage Foundation new taxes, penalties and fees resulting from Obamacare will decrease the amount of investment in the economy. That reduced investment will in turn lead to a decline of productivity causing the economy to produce $706-billion dollars less in goods and services.
Despite election year statements to the contrary in 2010, Senator Joe Manchin had an opportunity last year to repeal Obamacare but voted NO in lockstep with President Obama.
John Raese stands in direct opposition to Joe Manchin and would vote to repeal Obamacare as a United States Senator.