White Castle Executive Claims Obamacare Will Devastate Business
Monday, May 17, 2010 at 5:44PM I would say this is unbelievable, but it's not. Everyday something else comes out about how bad Democrat polices are for American business. Here is the latest from the Weekly Standard:
Forget about open-heart surgery or cutting-edge cancer treatments. Under Obamacare, you might have a hard time finding a hamburger. A statement released by White Castle, the Ohio-based burger chain, highlights how damaging Obamacare would be to small businesses and to Americans' job prospects.
White Castle reports that a single provision of Obamacare would cut its net income in half -- and then some. Jamie Richardson, a White Castle executive, says, "We’ve been working on this internally from a number of different perspectives. One [provision] that has [us] the most concerned is the $3,000 penalty that kicks in when an employee’s portion of a premium exceeds 9.5% of Household Income." Richardson elaborates, "In present form, this provision alone would lead to approximate increased costs equal to over 55% of what we earn annually in net income (based on [our] past 4-year average). Effectively cutting our net income in half would have [a] devastating impact on the business -- cutting future expansion and more job creation at least in half. Sadly, it makes it difficult to justify growing where jobs are needed most -- in lower income areas." And that's all from just a single provision in a 2,700-page act.
The Obama administration's economic policy seems to involve dividing businesses into two categories: too big to fail, and too little to matter.
No wonder Ohioans support repeal of Obamacare by 19 percentage points (57 to 38 percent).
Reader Comments (6)
Get ready for the $10 Big Mac. If this provision impacts White Castle, it probably impacts Wendy's, McDonald's, and all the other Tarlek family's favorite fine dining establishments. I flipped burgers for $3.35 an hour at McDonald's for spending money when I was a teenager. I learned that money is worth something because people trade work for it. Today our government puts in place policies that steer teens toward stealing, dealing drugs, or having kids out of wedlock. I predict teenage unemployment will hit 50% under Barry.
Herb, I had you pegged for a Churches Fried Chicken or KFC man. McDonalds seems too corporate for your act. That said, I'm sure you took a few liberties with food for the random wiseass didn't you? Hawker on the burger? Sneeze on the fries? Yeah, you know what I'm talking about don't you Herb?
This Piss head flop eared halfwit from the wendy kitty don't know sh** from shinola when it
comes to our economy...The only thing he ever ran was and is his big azz mouth and up and
down a basketball court....There is several things he's good at, lying, stealing and screwing
America, with that Pepsodent smile and a gold tooth are two this jive azz turkey would make
one hell of a Pimp.....
Pimping America one Ho at a time with Shakey 'Twotone' O bow wow....
What a freaking joke. Once again, where is the mainstream press? Nowhere to be found.
Turd, I can't confirm or deny any alleged activities during my tenure at McDonald's. I will say this.....for years after leaving there I'd never place a special order for fear of what bodily secretion might end up in my food. Back on the grill we hated those special orders like no pickle, or a Big Mac well done. Listen to me now, thank me later.
Just multiply this by the number of U.S. businesses impacted and you can see how devistating this will be for us. Anyone remember the need to be globally competitive? You can kiss that good bye.