Looks like Harold & Kumar will have to find a new place for eats:
"The White Castle hamburger chain fears that a health insurance reform law adopted earlier this year will put its profits on a downward slide ... [ObamaCare©] levies a $3,000-per-employee penalty on companies whose workers pay more than 9.5 percent of household income in premiums for company-provided insurance."
As of 2014, our national health care train-wreck will make it nearly impossible for the home of the "slider" to stay in business:
"White Castle, which currently provides insurance to all of its full-time workers and picks up 70 to 89 percent of their premium ... will likely end up paying those penalties. The financial hit will make it hard for the company to maintain its 421 restaurants, let alone create new jobs..."
The late-night bastion of belly-bombs currently employs some 10,000 nationwide, including over 1200 here in its home state. That's likely to change in a few short years, since that $3000 per employee hit will make it nearly impossible for the chain to show a profit. That's because these are part-time, often minimum-wage jobs - you know, the kind that Barry, Harry and Nancy tout as being the major beneficiaries of ObamaCare©.
And White Castle's far from an outlier here:
"(T)he National Council of Chain Restaurants ... says the entire restaurant industry will have trouble dealing with costs the bill imposes in 2014, including a $2,000-per-worker penalty that companies with more than 50 employees must pay if their workers end up purchasing federally subsidized insurance rather than getting insurance from their employers."
The other side of that coin, of course, is that that $2000 "hit" is actually much less expensive than what health insurance premiums are likely to be under the new, draconian coverage regime. As we've predicted many times, the most logical and financially sound choice will be to eat that fine rather than continue to pay premiums.
Bet a "slider" still tastes better than that.
[Hat Tip: Ace of Spades]
"The White Castle hamburger chain fears that a health insurance reform law adopted earlier this year will put its profits on a downward slide ... [ObamaCare©] levies a $3,000-per-employee penalty on companies whose workers pay more than 9.5 percent of household income in premiums for company-provided insurance."
As of 2014, our national health care train-wreck will make it nearly impossible for the home of the "slider" to stay in business:
"White Castle, which currently provides insurance to all of its full-time workers and picks up 70 to 89 percent of their premium ... will likely end up paying those penalties. The financial hit will make it hard for the company to maintain its 421 restaurants, let alone create new jobs..."
The late-night bastion of belly-bombs currently employs some 10,000 nationwide, including over 1200 here in its home state. That's likely to change in a few short years, since that $3000 per employee hit will make it nearly impossible for the chain to show a profit. That's because these are part-time, often minimum-wage jobs - you know, the kind that Barry, Harry and Nancy tout as being the major beneficiaries of ObamaCare©.
And White Castle's far from an outlier here:
"(T)he National Council of Chain Restaurants ... says the entire restaurant industry will have trouble dealing with costs the bill imposes in 2014, including a $2,000-per-worker penalty that companies with more than 50 employees must pay if their workers end up purchasing federally subsidized insurance rather than getting insurance from their employers."
The other side of that coin, of course, is that that $2000 "hit" is actually much less expensive than what health insurance premiums are likely to be under the new, draconian coverage regime. As we've predicted many times, the most logical and financially sound choice will be to eat that fine rather than continue to pay premiums.
Bet a "slider" still tastes better than that.
[Hat Tip: Ace of Spades]
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