After Obama reelection coal company CEO reads prayer to staff, announces layoffs
The head shaking part is in the comments. Lots of hate and ignorance about their own law.
All these layoffs are because the 2014 Obamacare fines will be calculated using 2013 full-time employee numbers over 50. All these hour reductions down to 29 hours? The bill redefines “full-time” as 30 hours of work a week.
(See below the fold for further explanations.)
So, if you have > 50 employees and they are full-time, you as a business have to provide health-care for them or be fined up to a max of $3000 per employee. Now, health-care insurance in the US for a business costs a lot of money, generally more than the $3k/year/employee.
So, you have a few choices as a business owner in order of least to greatest cost:
1) reduce all full-time to part-time
2) reduce workforce to < 50.
3) Combination of 1. and 2. to the point where profit > cost including fines.
4) Pay $3000 fine per employee
5) Pay for health insurance.
The most expensive option for a business is going to be least taken. That means that you must net at least $3000 pure profit per FT employee just to keep them on staff. Avg margins usually sit around 8-10%, which means that to profit $1 you need to make sales of $10. The other $9 go into materials/infrastructure/bills/labour. So NET profit to pay for these new costs mean that you must have TEN TIMES the number in NEW gross sales to generate enough per employee to pay the fine. $30,000 new sales per employee.
You wonder why everyone is being laid off? That’s why. Business has 60 days to figure out the math. Less if they are large businesses or union businesses that are required to give notice.
But, as we just learned, math is hard for people who have no skin in the game.
There is a lot of hate on for these smart business people for waiting until the election. Political retribution, they call it. No way Romney could have halted or killed the bill without the Senate, so that means it must have been revenge!
Back in reality what the business people were waiting for was State exemptions. That’s what Romney was promising and what he could deliver on day 1 because of the previous exemptions granted by Obama. That would have given everyone time
to relax and work out the kinks of Obamacare.
And this creep… offering prayers just when he lays people off?! Holy moley. It’s like some weirdo abusive patriarch beating the sh_t out of his kids while praying to god. What a freak.
Jesus would never stop puking if he met this turd who seems to have forgotten “it is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God”.
But whatever. Christian wackos like this only remember the parts of the Bible that suit them.
I can see a “Columbine” repeated ……in a senators constituency office.
Just saying what I foresee.
Nobody cares what I say…. normally, and I don’t blame them.
So John. Offer a better way of running his business… offer some clever business accumen? So what have you got other than criticism? Didn’t think so.
John, don’t attempt to interpret the bible unless you know what you’re talking about. Take a minute and research the Camel and Needle passage. It means nothing of what you are alluding to.
Hint- The eye of the needle was the main entrance to the city of Jerusalem.
Higher taxes only trickle down into higher costs for the average consumer. Also, higher taxes often mean LESS revenue for the government because enterprises shut down or fail, which means they don’t pay ANY taxes at all. Lower corporate tax rates mean more corporations and businesses succeed, which means more tax revenue for the government. Pres. W. Bush with his tax cuts brought in the highest gov’t revenue ever. Look it up. (Of course, he also spent too much . . .)
“Tax the rich” people are such economically illiterate morons.
Math is always hard for a socialist, especially the Bolshevik kind.
What Trent and I.M. said.
It appears that the people who voted for the socialist parasite will get the government they deserve. It is unfortunate for those who did not.
“Or, the Americans could work towards developing a system like Canada’s, which delivers solid care for a smaller percentage of our GDP than what the Americans pay.” Solid care? They solve the rationed waiting lists in the morgue.
United Soviet Socialist States of America around the corner. You know the President by his old friends.
” It means nothing of what you are alluding to.
Hint- The eye of the needle was the main entrance to the city of Jerusalem.
BWAAHAHAHAHAHAHAHAHAHHA!
Sorry.
BWAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!
Sorry. Sorry. Bwahahahahaha!
Ok, ok, ok. I’ll stop.
Yeah. Just keep telling yourself that. Religious knobs are desperate to believe this to be the case, because they can’t accept the truth. That Jesus didn’t like rich people or money. That he insisted on many occasions that people eshew weath if they were to follow him.
Ask yourself. Why the F would he say that a rich man can no more easily get into heaven than a camel could walk through a camel-sized gate of Jerusalem? That just doesn’t make sense. Of course… the religious right rarely makes sense, so I am asking a lot here.
@ john
Whether you believe or not, a bit of education would at least mask your overall stupidity.
http://www.biblicalhebrew.com/nt/camelneedle.htm
This is a great site for debate but was not meant for a troll haven.