Tuesday, May 18, 2010

If This Doesn't Get People Motivated...

We may as well pack it in and start singing Kumbiyah...they'll be coming for the Krispy Kremes, soon.

You can have my White Castle slider when you pry it from my cold dead hands.

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

BY Jeffrey H. Anderson

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.

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.

The Obama administration's economic policy seems to involve dividing businesses into two categories: too big to fail, and too little to matter.

No wonder Ohioans support repeal of Obamacare by 19 percentage points (57 to 38 percent).

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