Is Obamacare a 'bullet to the temple'?
Bernie Marcus, who co-founded Home Depot in 1979, says the massive health care insurance overhaul will 'kill off small business.'
Obamacare will only bring death for American small businesses, according to Home Depot (HD) co-founder Bernie Marcus.
In an interview with Newsmax TV at a summit for Job Creators Alliance, a group that advocates for small businesses, Marcus took aim at a wide range of government regulations, including the Environmental Protection Agency and Dodd-Frank. But he reserved his harshest criticism for the Affordable Care Act, which goes into effect next year.
"Obamacare is going to kill off small business," Marcus said, according to the Huffington Post. "Obamacare is the capper. That's the bullet to the temple."
The ACA is proving to be a lightning rod for business owners. Many object to the provision requiring employers with 50 or more full-time workers (30 hours or more per week) to offer "minimum essential" health care insurance.
Dunkin' Brands (DNKN) is lobbying the government to change that definition to 40 hours a week, while a study issued last month projected the cost of underlying claims could jump by one-third under Obamacare. The Obama administration has insisted that the law will trim the overall cost of health care.
"If I own a restaurant and have 120 people working for me and I'm barely making it today, and I look at Obamacare, I have to explain to my employees what's happening," Marcus said. "I have to say to them, 'Look, if I cover you, I don't know if I'm going to survive.'"
Small-business owners not only receive little help from the government, but they're facing a regulatory environment that has one goal, and that's "to stop you in your tracks," Marcus said.
When he started Home Depot, he added, the company didn't face the types of regulations and barriers that small-business owners deal with in 2013.
The son of Russian immigrants who grew up in a tenement, Marcus doesn't believe the government's unemployment figures and other data indicating the economy is improving. The unemployment rate might be as high as "14% to 15%," he said. "Take into consideration people who work part time" but want full-time jobs. "The economy isn't good," he added.
Follow Aimee Picchi on Twitter at @aimeepicchi.
Democrats are destroying everything this nation was founded on.
They want everyone to be equal and have the same. Regardless of how
hard you have worked for it.
BY SEPT OF 2014-WE WILL BE IN THE SHARPEST ECONOMIC DECLINE SINCE THE DEPRESSION.
I'M NO ECONOMIST, BUT I STUPIDLY HAVE BEEN WORKING FOR 43 YRS INSTEAD OF SUCKIN' THE GOVT TIT.
IT'S GONNA BE BAD-BAD-BAD.
Hope the people that voted for the Hope and Change BS are happy.
Unreal that folks bought into his crap.
Obama care is going to ruin our country. Businesses will go under, people will be un-insured or can't afford insurance. It's going to be worse than ever to live in the Divided States.
Its SO DAMN SIMPLE PEOPLE....Barack Obama is a liar. Barack Obama is a liar....Barack Obama is a liar....How many lies does it take from your boyfriend, girlfriend, husband ,wife before you toss them out? Got news for those that cant seperate color from fact.....OJ isnt innocent
"Death to small business". That is exactly what he wants it to do. He wants large businesses controlled by the government. The only way that can happen is force the smaller businesses out by making it impossible to function.
Marcus is right. The government has bee lying about the unemployment figures, because when someone falls off the unemployment rolls due to time expired, they are not longer considered unemployed even though they still do not have a job. This is how the government only tells the partial truth. Obama is destroying this country and he will go down in history as the worst president this country ever put in office. As a friend of mine stated. We have the president the liberals voted for. And when they find out they are in the same boat and it is sinking they are either going to realize they were had, or they will go back to blaming George Bush. Ironic they want to blame someone when in fact the democrats have been in power almost tem years now and they have done nothing to improve anything..
hey, HANG IN THERE PEOPLE!! I like to take the 'glass half full' approach to this nightmare, obamacare is so overwhelmingly complicated, so American Dream destroying that there won't be anyone that can implement this no matter how much they try, the democraps have had their moment in the sun so to speak, even hitler's empire collapsed after 6yrs, we're 5yrs into the obamaINSANEnation and his administration is coming to an end as well, we're disrespected by every anti American nation you can think of, the mid east is in worst shape than ever before thanks to the democrapic party, obama's living like royalty while the rest of America is mired in staggering unemployment, and he's going down in the popularity polls as we speak, so are his ENTIRE leftist ideas, even the loony leftist in the media can't keep covering for this pig Marxist without proving to the world what shills they are for the socialist agenda, hell even jay z is dissin' his bro in that stupid rap 'open letter'
so don't be too harsh with this moron he's too stupid and lives to much into his own narcissistic life that he doesn't even know cuba is off limits, even when osama gave him the OK to go there! the man's a moron people, seriously, so's his slutbag skank of a wife beyonce, but everyone knows that, so not to despair, obamacare is like a beached blue whale, so massive and heavy it'll collapse from it's own immense weight, just hang in there a little while longer.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The stock market ended the holiday-shortened week on a mixed note as the Dow Jones Industrial Average shed 0.1%, while the S&P 500 added 0.1% with seven sectors posting gains.
Equity indices faced an uphill climb from the opening bell after disappointing quarterly results from Google (GOOG 536.10, -20.44) and IBM (IBM 190.04, -6.36) weighed on the early sentiment. Google reported earnings $0.15 below the Capital IQ consensus estimate on revenue of $15.42 ... More
More Market News
Serious issues like drought and the deterioration of the developed world spell opportunity for this industry leader.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'