Will Obama’s Healthcare plan affect American business?
In my opinion, I don’t think that President Obama’s healthcare plan will be good for American business. One reason why is the plan will essentially force businesses to offer their employees insurance. While this seems like a good idea in theory, I don’t believe the tax credits the President says that will be offered to help offset the costs will be enough to help small businesses. There are some businesses that would most likely go bankrupt if they were forced to offer their employees insurance. Insurance is extremely expensive right now, and also, it would keep smaller businesses from hiring people if they knew they had to offer an insurance option. They would in turn probably hire fewer employees in order to save money. This would end up hurting the economy, because when people don’t have jobs, they don’t have money to spend with businesses. It would be a cycle which would greatly hurt our economy and I believe put us into greater debt than we already are.
I also think that the mandate on insurance would hurt American business because it would force all Americans to buy insurance, unless they met the income standards for exemption. However, in his bill he does not specify what the income level would be. Also there have to be some other situations that would qualify someone for exemption, or this would not work. There are many single parents and many of them cannot afford to purchase health insurance for themselves and all of their children if their employer doesn’t offer it, which is often the case. These people would be forced to pay out of pocket for insurance that they can’t afford, which gives them less money to spend otherwise, which in turn hurts businesses.
Another thing the bill does not really address is where the money will come from to pay for this public option insurance and the rest of the bill. Obama continuously states that the bill will not make our deficit... [continues]
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(2009, 11). Healthcare. StudyMode.com. Retrieved 11, 2009, from http://www.studymode.com/essays/Healthcare-252499.html
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"Healthcare." StudyMode.com. 11, 2009. Accessed 11, 2009. http://www.studymode.com/essays/Healthcare-252499.html.