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December 2, 2013

Bad Enough Obamacare Has U.S. Racing Toward Being A Part-Time Nation, Now We Learn It Contains A Job-Killing Minimum Wage Hike

Topics: Political News and commentaries

Now that the Obamacare bill's been passed and we've had some time to find out what's in it ... and had a chance to experience some of it's effects ...

It's bad enough that Obamacare already has the US racing towards becoming a part-time nation, with only 47% of Americans currently have full-time jobs (of 953,000 jobs created in 2013, 77%, or 731,000 were part-time). Now we learn that Obamacare will increase the minimum wage forcing even more employers to cut back on their workforce.

2103 Full Part time_0.jpg

Via The Daily Caller:

Will President Barack Obama be discouraged if his plan to raise the minimum wage to $10.10 per hour doesn't pass the House? Probably not -- Obamacare is already effectively raising the minimum wage to $10.30.

Obamacare's employer mandate, which requires businesses to provide health coverage to full-time workers, raises the cost of employing a single person by $2.24 per hour. Job cuts and small business-downsizing can be expected, according to a significant new report by the Heritage Foundation's James Sherk and Patrick Tyrrell.

This effective minimum wage hike is strictly enforced under Obamacare. Small businesses of at least 50 employees will have to pay hefty fines for each worker not insured -- fines that essentially add up to the cost of providing all workers insurance.

Meanwhile, in other reality-based, Obamanomics-induced, bad news, once again it seems the government's benign inflation data is fictionalized by reality's rising price of everything. Get ready to add inflation to your household budgetary concerns:
Over the past 30 years, the rise in the price of Christmas according to PNC's annual 12-days-of-Christmas price index has matched the CPI at around 2.9% YoY. However, in recent years, the reality is considerably worse than the well-managed inflation data the government profers. The price of Christmas in 2013 is up a stunning 7.7% over 2012 - the biggest jump since 2010' 9.2% rise.
More at Zero Hedge.

Related: Reaganomics Vs. Obamanomics: Facts And Figures

Posted by Hyscience at December 2, 2013 12:26 PM

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