Last spring, we reported on Paid Time Off Banks, where employees could treat their sick days as commodities. Of course, this was predicated on the assumption that employers voluntarily allot a certain number of those days.
But what happens when the gummint mandates that employers provide paid time off for illness?
Well first, as we've seen in every other area of the benefits equation, people will lose benefits (days).
Well, if the gummint mandates that employers must provide, for example, 8 such days a year, what employer would voluntarily offer any more than that?
And, of course, jobs will be lost.
Well, one proposal would require "five to seven sick days annually for full-time workers at firms that employ 25 or more people." So what do you think's going to happen to employees #25, 26 and 27? At least they'll have COBRA benefits.
And, of course, many companies will either close, or scale back significantly:
"For every $1 spent on wages, he already pays another 43 cents for vacation, health care and other benefits."
How much more will the sick time cost?
But hey, it's free, right?