It’s 0.025 percent
I read with interest Robert Luddy’s Sept. 20 Point of View piece “How Obamacare smothers business.”
According to Luddy, Do Won Chang’s company made $4 billion last year. He now complains that he will need to pay $1 million to provide health insurance to his full-time employees. That $1 million represents 0.025 percent of the $4 billion he made last year. It is disingenuous to think a business cost of 0.025 percent of total income would prevent Chang from growing his business.
As a business owner, I believed it was my obligation to pay for my employees’ health insurance. When business owners refuse to provide insurance, the rest of us – employers and employees – must pick up the cost through increased taxes for Medicaid, increased costs for hospital expenses to make up for the uninsured and increased health insurance costs to pay for the costs of contracts with hospitals and doctors.
If Chang saw a 0.025 percent increase in his clothes or transportation costs, I am sure his business would continue to grow. In the case of not providing health insurance, his business and income will grow because the rest of us subsidize him.