Obamacare can cost $50 billion a year in lost payroll taxes cutting hours...

Discussion in 'Politics' started by healthmyths, Jan 22, 2013.

  1. healthmyths
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    healthmyths Gold Member Supporting Member

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    NO one foresaw employers cutting employees hours to get below the 40 hour work week so they don't have to provide health insurance.
    NO one foresaw then the loss of payroll taxes revenue.

    SO I've projected the following and it's possible $50 billion a year in loss payroll taxes will occur ... ALL because of Obamacare and
    this was NEVER considered in the ACA bill!

    As of December 2012 there were 54,000,000 full time non agriculture workers.

    Let's assume they all work 40 hours a week at average of $23.73 per hour or $949.20 per week.
    Source for hourly wage: Employment Situation Summary

    Now lets assume employers cut their hours to 30 because of Obamacare....
    "Employers do not have to provide health-insurance coverage to part-time workers under ObamaCare as long as they work less than 30 hours a week, and one restaurant company has begun experimenting with changing over entire staffs to part-time work to avoid the ObamaCare mandates and fines.
    ObamaCare transforming America into Part-Timer Nation? « Hot Air

    Now Obamacare has told us over and over there would be NO changes in health plans, no changes right?? If you like you can keep it???

    So how much tax revenue will be loss???

    54 million employees and employers pay at 40 hours $407 billion a year in payroll taxes..
    But with employers cutting back hours and say 50% of employers cut back to 30 hours...
    27 million employees/employers pay at 30 hours ..$152 billion a year.
    27 million working 40 hours employer/employees pay $203 billion a year..
    Total revenue is $356 billion
    subtract the above from $407 billion leaves ---Total loss in tax revenue per year...$50.9 billion in lost payroll taxes...

    AGAIN something Obama promised would NOT happen!!!
     
  2. francoHFW
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    francoHFW Platinum Member

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    Can also cause alien attacks and tunneling escapes to China....
     
  3. Clementine
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    Clementine Platinum Member Supporting Member

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    And when they panic at the loss of revenue, taxes will go up yet again to make up for it. They won't cut anything. The middle class can't take many more hits and stay afloat. Our insurance premiums and medical costs will skyrocket, so we will be hard pressed to pay more taxes. This is already starting to get ugly and it's only the beginning. Meanwhile, those who feel good because they are getting something for free won't care about those struggling to keep the country going.
     
  4. TheOldSchool
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    TheOldSchool Diamond Member

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    Absolutely right. People should start abandoning America for Mexico or Canada any day now once they realize this horrific, traumatizing fact. (sarcasm)
     

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