A political firestorm erupted Tuesday over a report issued by the nonpartisan Congressional Budget Office (CBO), which said that the Affordable Care Act (ACA) will reduce “full-time-equivalent employment” by about 2.3 million in 2021. Last May, the CBO had estimated that figure at 800,000.
To opponents of Obamacare, the CBO was telling the world that President Obama’s health-care reform was an even bigger job-killer than previously thought. The report also gives Republicans a new weapon for the fall midterm elections, when they plan to use Obamacare as an argument to vote against Democrats.
But the report doesn’t predict that businesses are going to dump workers because of Obamacare. It frames the issue in terms of worker choice. By giving workers more options for accessing health insurance, with possible subsidies, the ACA gives workers more freedom to work fewer hours....Just as the President predicted during the legislative debate?
Sure, we remember him saying he was going to raise low income workers' marginal income tax rates above 100%. If you don't like your job, you won't have to keep it. That's the ticket, yeah, yeah.
[Bold in the above quote, by HSIB.]