This week, a new report revealed just what an absolute nightmare Obamacare has been for Americans. As the Washington Free Beacon’s Liz Harrington reports, Obamacare has cost American small businesses 300,000 jobs.
Obamacare has cost roughly 300,000 small business jobs due to higher health care costs, according to a new report.
The American Action Forum, a center-right policy institute, released findings Wednesday that rising premiums and regulations under the Affordable Care Act have had “dire” consequences for the labor market.
The report found the law has cost $19 billion in lost wages per year and forced 10,000 small businesses establishments to close their doors. The study covered employers with 20 to 99 employees.
“Research from the American Action Forum (AAF) finds regulations from the Affordable Care Act (ACA) are driving up health care premiums and are costing small business employees at least $19 billion in lost wages annually,” the report said. “These figures varied by state, but in 2015 the ACA cost year-round workers $2,095, $2,134, and $2,260 in Ohio, New York, and North Dakota, respectively.”
“Premium increases, a prospect regulators predicted when issuing the first ACA regulations, also significantly diminished the number of business establishments and jobs nationwide,” the report said. “Across the country, small businesses (20-99 workers) lost 295,030 jobs, 10,130 business establishments, and $4.7 billion in total wage earnings. Florida lost 17,950 jobs; Ohio lost 19,000; Pennsylvania lost 15,680; and Texas lost 28,010 jobs due to higher sensitivity to rising health care premiums and the ACA.”
For comparison’s sake, Pittsburgh has about 305,000 people. This would be like if nearly the entire city of Pittsburgh suddenly lost their job.
It’s no wonder Donald Trump, against all odds, defeated Hillary Clinton. Obama broke the American economy.