Sunday, March 28, 2010
Is health law already hurting business? Maybe, maybe not.
This article is talking about how the republicans feel about the new healthcare system that Obama has just signed. It reports that the new bill will cause businesses to spend more money and let go of their benefits for their retirees. Many companies such as Verizon has had to send letters to retired and current workers saying that the new health-care will most likely affect this benefits since they will have to be spending more on taxes. This new law will also affect the efforts to a recovering economy. With the businesses spending more on taxes, they will likely have to let go of more workers which will hurt the rate of unemployment. All in all, the conservatives are not happy about the movement towards a new health-care system.
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In my accounting class we talked about how some businesses such as Caterpillar are going to have to report huge losses. The effects from the health care bill are already beginning to show.
ReplyDeleteThe health laws may hurt the businesses at this time, but it's a longterm benefit for the employees. Plus, a company with a sound health care system will attract more skilled people and have less turnover rates, so it's not as bad as it seems.
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