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White Castle Exec: Obamacare Provision Would Cut Our Income in Half

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posted on May, 20 2010 @ 01:27 PM
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White Castle Exec: Obamacare Provision Would Cut Our Income in Half


www.weeklystandard.com

Forget about open-heart surgery or cutting-edge cancer treatments. Under Obamacare, you might have a hard time finding a hamburger. A statement released by White Castle, the Ohio-based burger chain, highlights how damaging Obamacare would be to small businesses and to Americans' job prospects.
(visit the link for the full news article)



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posted on May, 20 2010 @ 01:27 PM
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White Castle reports that a single provision of Obamacare would cut its net income in half -- and then some. Jamie Richardson, a White Castle executive, says, "We’ve been working on this internally from a number of different perspectives.

One [provision] that has [us] the most concerned is the $3,000 penalty that kicks in when an employee’s portion of a premium exceeds 9.5% of Household Income." Richardson elaborates, "In present form, this provision alone would lead to approximate increased costs equal to over 55% of what we earn annually in net income (based on [our] past 4-year average). Effectively cutting our net income in half would have [a] devastating impact on the business -- cutting future expansion and more job creation at least in half.

Sadly, it makes it difficult to justify growing where jobs are needed most -- in lower income areas." And that's all from just a single provision in a 2,700-page act.


Didn't Kumar from "Harold & Kumar go to White Castle" get a job with this administration? He needs to step up to the plate for the company that propelled him to greatness or sort of greatness.

We have businesses from the Left side of the spectrum and the Right side of the spectrum stating publicly that they will be laying of employees because of the hit they will be taking to their bottom line. This is not good news for anyone who is involved or owns a business big or small.



www.weeklystandard.com
(visit the link for the full news article)



posted on May, 20 2010 @ 01:46 PM
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Sorry to say, we all knew this was going to be the case, yet they rammed it through just like the bailouts. With this HC law, it will break the backs of businesses, mostly the small ones like mine. I'm feeling more and more that that was the intention of the bill all along. Get us all on the welfare cheese.



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