In the past 48 hours, since the election results were complete, over 40 major American companies announced job cuts and layoffs.
I wonder why.
In completely unrelated news, I’m sure, the Heritage Foundation asks a very good question…
What’s next for Obamacare now?
The bad news is that many of the health care law’s serious effects were delayed until after the election. Ten of its 18 new tax hikes have yet to kick in. And there is still so much about the law that we don’t even know.
Former House Speaker Nancy Pelosi (D–CA) was absolutely right when she famously remarked in 2010 that “we have to pass the bill so that you can find out what is in it.” Thus far, we have seen revelations of increasing costs, higher taxes, and a flood of directives from Washington bureaucrats—yet there are countless major features of the law that have not been decided.
Just a few of the questions that remain: What will a qualified health plan look like? What will be in the essential benefits package that insurers are required to provide? How will the employer and individual mandates to purchase insurance be implemented? The list goes on.
In September, Heritage published a chart of all of the new Obamacare taxes headed our way.
Maybe the fear of the new healthcare law is causing these companies to shed workers en masse? Or is it the pending “Fiscal Cliff”? Or all of the above?
-Bruce