A recent quarterly survey done by the Chamber of Commerce found that because of the new "affordable" health care law, 72 percent of small business owners in the U.S. will find it harder to hire new people, and understandably so.
Obamacare has resulted in thousands of pages in IRS and Treasury rules, including 17 regulations, five revenue procedures, two revenue rulings and 14 Treasury decisions. All of this results in 80 million hours of extra work for families and businesses, according to the House Ways and Means Committee.
To give an example, for the amount of time it will take to legally comply with all the new regulations, you could build the Empire State Building 11 times and Halley's Comet, seen from Earth once every 76 years, could be spotted 119 times. This, essentially, results in a whole new tax that could translate into higher prices for goods and service, and, or hiring more people.
I know Mitt Romney has said that he would eliminate the "affordable" health care act but, that there are some things in the new health care law he would like to keep if he were elected president, including coverage for people with pre-existing conditions. And we all know that things like Medicare can't keep going as they are right now.
So much change is coming and I'm like the guy that bagged the deer with no eyes. I have no-eye-deer what it will cost me in the short- and long-run. I do know that if I had a business, I would prepare for the worst and hope for the best.