ObamaCare already falling short of coverage promises, pushes employers to cut jobs and wages

The claim:

"The recent health reform package made 4 million small business owners eligible for a health care tax credit that covers up to 35 percent of premiums." - WhiteHouse.gov, Aug. 10, 2010

The truth:

"Supporters claim four million small businesses are eligible for the credit, but the fact is less than two million small businesses will receive it. And those that do receive a credit aren’t guaranteed a large check." - Bill Rys, tax counsel at the National Federation of Independent Business

And it gets better. ObamaCare include provisions encouraging employers to cut their employees' wages, stop hiring or lay people off so they can qualify for the handouts.

"At most, the credit offsets 35 percent of the insurance costs of a small business. However, this percentage phases out as the number of employees rises above 10 or the average wage (not including the owner’s income) rises above $25,000. Importantly, both of these phase-outs operate simultaneously," writes Rys.

So not only does ObamaCare only offer tax credits to half the businesses the White House implied, businesses must limit their pay and hiring to be eligible and those that still don't qualify will struggle to stay in businesses as they face health insurance costs sent skyrocketing by government control.


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