Obamacare And Other Regulations Killing Potential For Jobs

From Newt Gingrich:

Obamacare and Other Government Regulations Are Killing Jobs


Washington’s mixed indications about preventing the 2010 tax increases is not the only thing creating uncertainty in the job market.



In our September survey, 46% of small business owners identified the implementation of Obamacare as the action by government that is creating the most uncertainty in the economy.



Furthermore, in our August survey, 83% of small business owners identified the federal government as the No. 1 culprit when it comes to imposing the most burdensome taxes and fees.



Amazingly, 27% of small businesses lose more than 10 hours per month complying with state or federal requirements or regulations.



More than half of respondents said they would save between $10,000 and $50,000 annually if regulations were cut in half. Over 20% of small business owners said they would save more than $50,000.



Think of the impact this extra capital could have on job creation in America.



Here is what small business owners said about the impact of Obamacare and other government regulations on their ability to run their businesses and create jobs:



“My business has experienced two problems that affect us directly. 1) Health insurance premiums have increased due to new requirements. Our carrier told us that we cannot change our plan because of the new legislation, which resulted in higher cost than before. 2) The 5% tax on medical device sales has decreased our profitability to the point where we expect a loss next year.”



— Leo Leopold, owner of Medical Murray, a medical device design and manufacturer, in Hawthorn Woods, Ill.



“The trucking industry is paralyzed by taxes and government regulations. There is no incentive to try and make any money when the government comes in at the end of the year and takes more than half of what you have made… Now that things are slow in my business I have to lay off men who have families because there is no money for payroll. If I were allowed to save some money I would have it to pay my employees and to buy some new equipment. If things do not turn around soon, I will have to close the business that I have worked so hard for over the past three years.”



—Linda Almony, owner of LG Almony and Sons in Maryland