Re-blog courtesy of CBS St. Louis news blog.
Originally posted on CBS St. Louis:
As the final days of the presidential campaign of 2012 wind down, there is ongoing concern about what President Barack Obama’s law for requiring businesses to provide health care for its employees will do to small business owners. The choices that business owners have are few, and none of the choices are attractive at all for the American entrepreneurs who are scarcely making it in this Obama economy. Yet, these business owners must make a decision – and make it quick – before the financial penalties begin to accrue against them.
The choices for small business owners are clear, and they all involve a forceful blow to their financial bottom line. They can either spend the money it will take from their business – and their hopes of expanding their business – to provide insurance for all of their workers. Or, they can pay the hefty fines that the government will now levy against them if they do not provide insurance for their employees. The next option is to keep their business incredibly small – under 50 employees – so that they will continually have under the number of employees that are required to feel the full effects of the Obamacare law.