Investors Business Daily ^ | June 21, 2012 | Dr. Betsy McCaughey, fmr. Lt. Governor (NY)
The Obama administration launched a pre-emptive ad blitz on June 19, touting the Obama health law's benefits days before the U.S. Supreme Court will announce its ruling on ObamaCare's constitutionality.
The ads claim there's a lot to lose if the law is struck down.
But they say nothing about the hiring boom that will result from an ObamaCare defeat. It would give the economy a shot in the arm.
If the justices rule that mandatory health insurance is unconstitutional, they will also strike down a big chunk of the health law — all of Title 1 — including the burdensome "Employer Responsibility" provision that has struck fear in the hearts of employers and deterred hiring.
Beginning in 2014, the "Employer Responsibility" provision would require employers with 50 or more workers to provide health coverage or pay a penalty. Not just any coverage, but a package of expensive benefits that the president deems "essential."
In most states, that requirement would add $1.79 per hour to the cost of a full-time employee. That would amount to the biggest hike in labor costs in American history. Employers in New York and New Jersey, where health plans are the most expensive, would be hit even harder.
There, according to economist James Sherk of the Heritage Foundation, the employer requirement would add more than $2 an hour to the cost of employing someone.
Many employers who already provide health plans will be hit with higher labor costs in 2014 unless the Supreme Court strikes down Title 1 or all of ObamaCare. The law takes away employers' option to provide low-cost mini-med plans, which are common in retail, fast food and other industries employing large numbers of low-wage workers....
(Excerpt) Read more at news.investors.com ...
