The company profit is 3%.
Maybe he can ask his parents for some help.
In the big picture, if all employers had to provide health care, they
I agree that it sucks that the pay for many jobs is so low that it
I don't feel that strongly about Barr. I do feel very strongly about
I had to snort when I read that one!
Taxes 28%
You mean like when we find out that a name brand, especially ones
Yes, and that is the real problem, the cost of health care. But
You don't understand insurance. You aren't buying health care, you are
Well, it is insurance. It's like fire insurance, you pay for something
23 stores?! 421 employees? and he only makes $800k/yr !!! Is thatOn Tue, 21 Aug 2012 09:14:58 -0700, Jim Thompson
To-Email-Use-The-Envelope-I...@On-My-Web-Site.com> wrote:
The reality...
The International Franchise Association held a convention in
Washington this week where most of the Radio Shack, Dunkin Donuts,
Curves and other franchisers were grumbling about new federal
regulations, especially the impact of Obamacare.
Most, said Atlanta Taco Bell and Kentucky Fried Chicken franchiser
David Barr, presumed that the reports about how hard Obamacare will
hit them were overblown. "They had their head in the sand," he told
Secrets.
That is until he pulled out his powerpoint showing how funding
Obamacare will cut his--and likely their--profits in half overnight.
With simple math the small business folks understood, he spelled out
that their only choice is to slash employee hours so they aren't
eligible for company-paid health care or stop offering insurance and
pay the $2,000 per employee fine.
Barr has 23 stores with 421 employees, 109 of whom are full-time. Of
those, he provides 30 with health insurance. Barr said he pays 81
percent of their Blue Cross Blue Shield policy, or $4,073 of $5,028
for individuals, more for families, for a total bill of $129,000 a
year. Employees pay $995.
Under Obamacare, however, he will have to provide health insurance for
all 109 full-time workers, a cost of $444,000, or two and half times
more than his current costs. That $315,000 increase is equal to just
over half his annual profit, after expenses, or 1.5 percent of sales.
As a result, he said, "I'm not paying $444,000."
Providing no insurance would result in a federal fine of $158,000,
$29,000 more than he now spends but the lowest cost possible under the
Obamacare law. So he now views that as his cap and he'll either cut
worker hours or replace them with machines to get his costs down or
dump them on the public health exchange and pay the fine. "Every
business has a way to eliminate jobs," he said, "but that's not good
for them or me."
But that's not all. His experience tells him that most low-wage
workers he would have to cover under Obamacare won't take it because
their $995 share is too high, meaning those the program was set up for
won't see any benefit. And those who do will because they have major
health issues, likely resulting in higher premiums to him.
...Jim Thompson
--
| James E.Thompson, CTO | mens |
| Analog Innovations, Inc. | et |
| Analog/Mixed-Signal ASIC's and Discrete Systems | manus |
| Phoenix, Arizona 85048 Skype: Contacts Only | |
| Voice480)460-2350 Fax: Available upon request | Brass Rat |
| E-mail Icon athttp://www.analog-innovations.com| 1962 |
I love to cook with wine. Sometimes I even put it in the food.
I asked about _giving_, i.e. you seem to expect other people to be
Vote for a better class of people.
the same. :-(
First step, don't vote for tall, charismatic, lawyer, career
Anybody trustworthy would not accept the job.
No, you paid them for a service, i.e. protecting you from a financial
He owns it all, so he is taking home $630k a year.
manage the business. Those are probably the 30 people he gives a shit