The article, titled "Businesses Wary of Details in Obama Health Plan," details the hits that companies fear. As part of his "spread the wealth" philosophy, Lord Obama plans to force business to subsidize health care for the uninsured. These business owners will be tasked with providing coverage for people who don't work for them or have any connection to their success. The article quotes business owners who are planning hiring cutbacks. It cites economists' predictions that non-complying businesses will be penalized at up to 6 percent of their payroll costs!
Unanswered questions are also weighing heavy on owners' minds: How much is the "meaningful contribution" that Lord Obama has said he'll demand from them; what size businesses will be asked to pony up their so-called wealth; and how hard will they get whacked if the Lord doesn't like their attitude? They're also smart enough to know that any initial plan is just the beginning of rising fees, fines, and costs.
These are the realities that businesses are facing. But this was never supposed to find its way into print in The New York Times -- especially before the election! Kevin Sack, you might just get sacked for spilling the beans... along with the editor who assigned this glimpse of the truth. (We do wonder what happened here.)
Read the Background Material on the Morning Update...
• NY Times: Businesses Wary of Details in Obama Health Plan