November 20, 2012
Is Thirty the new Fifty?
With ObamaCare in the wings, the traditional forty- or fifty-hour work week will soon be replaced with a less than thirty-hour week for many American workers. To wit: many businesses, including ones that previously received ObamaCare waivers, are trying to avoid paying onerous fines for not providing employees with health coverage as mandated by the new law. President Obama recently said that he won't allow the budget to be "balanced on the backs of the middle class." He sure did give the appearance of truly caring about these "folks," but he failed to disclose the fact that, even if taxed at 100%, there simply aren't enough rich people to pay for all of his big-government plans. But as Thomas Sowell points out, even at a rate much lower than 100%, higher tax rates don't necessarily translate into higher tax revenues. So where will all this needed money come from? While Obama is targeting the group of Americans who already pay the most...(Read Full Post)