The Federal Government is set on picking up $130 billion in revenue from penalties over the next decade.
The huge windfall of penalties will come from collected penalties of companies 50 employees and over, not in ‘compliance’ of ObamaCare. This will bankrupt many businesses, and is nothing more than ‘legal’ extortion, a.k.a. Socialism.
Breitbart reports: ‘Here’s how it works. If you’re a company with 50 or more full-time employees, and one of your employees is spotted getting a tax credit for coverage in a state-based health insurance exchange, you’ll pay $2,000 per employee past 30. In other words, if just one of your workers receives a tax credit, you’ll shell out $40,000 minimum. The fine maxes out at $140,000 for a company with 100 employees in 2014.
If any policy offered by the company amounts to more than 9.5% of an employee’s income, the company has to pay $3,000 for that employee.
The goal of all of this is to leverage employers into paying for health insurance. The Associated Press foolishly reports, “Initially there was widespread speculation that many employers would drop coverage and opt to pay the fines instead, but that talk seems to have died down.” Instead, employers will likely dump full time employees if they’re near that 50-employee bubble.
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