How the healthcare ruling impacts small businesses
Kate Rogers on what the healthcare ruling could mean for small businesses
- Duration 9:22
- Date Jun 28, 2012
Kate Rogers on what the healthcare ruling could mean for small businesses
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We have Kate Rogers reporter with foxbusiness.com.
-- joining us you write this happened right before this happened right after this -- -- on the phone you call your small business contacts and what are they telling.
So they are largely.
Not happy with the ruling we got today thought obviously this health care law was largely upheld.
On individual mandate portion of the law which was kind of at the heart of this whole Supreme Court.
He's could be that National Federation of Independent Business when they brought this case to the Supreme Court.
That was at a part of their argument that this was unconstitutional and it is upheld now -- attacks.
So for our small business owners many -- that costs are going Allah why that.
-- -- -- Government's going to be absorbing more of the cost more on health care.
Is that you pay for that exactly -- I have to stop you because I'm getting so many -- there's like five -- could you guys riding in.
On the chat so let's see if we can answer that yet -- -- -- attempts by the paid Diana.
PS -- Rosenthal you write this is not attacks it is a penalty.
To be in force anyone who's not abated government wishes a tax applies to something you buy or its own not -- -- she's not do that that's a valid point.
Well and the National Federation of Independent Business I spoke with their chief legal counsel Karen -- and she said that this is basically just.
The day that Americans lost their freedom now government is determining what they're going to have to buy what they have to pay for with their own money and that's why Anna -- felt that was unconstitutional.
So that's 100 leathery wing with -- It seems like -- chatters are really negative on its ruling as well.
Deal on -- -- one says we cannot create a long term business plan right now due to the uncertainty.
Obamacare makes it even worse yet you know that's one thing everybody investing community yeah absolutely political community we hate uncertain.
T I know all businesses are up against so much very now I spoke with another business owner Shaun Cochrane of branches PSP there smaller marketing firm.
In Virginia and what he said to me -- that this is going to.
Stopped him and his wife from hiring more people for their business because once you hit that fifty not -- you -- Provide health care prior employers and he said that it's really gonna make them think about if they're gonna bring on.
New workers or higher those independent contractors that they would have to offer them health care -- to something more to think.
Kate stay with us I'm gonna hand you some of the tweets coming you can -- them while because we don't keep rates at -- in DC.
Outside of the supremes are winning you have an -- -- -- -- What hasn't been like this morning up until that ruling and now what have you -- bring OK there.
You know first of all come here all -- learned a worry about it -- but you know.
And have been here since about 5 AM when they were -- -- over trying to get in you could wait in line and.
Listen to the decision and that's what happened to at a hundred folks possibly -- -- It has gotten much more crowded here -- the day's gone on the crowd is still here with supporters of the president's health care law.
Really celebrating and others still claiming that it shouldn't stand though it's been decided that it is constitutional at least.
Very much almost the entire thing in a 54 decision this is how it breaks down.
The way that this is constitutional and the most contentious part was the provision requiring almost every American to have health insurance by 2014.
Justice Roberts writes the majority opinion here normally conservative because of the more liberal justices proving.
To be really the deciding vote here and in this position he writes.
Congress apparently regards such an extensive failure to comply with the individual mandate.
Because congress didn't think that it's creating.
Four million outlaws to suggest instead.
That the shared responsibility payment nearly imposes a tax on citizens who may lawfully choose to pay -- into -- buying health insurance so they call it attacks a very narrowly defined decision.
Essentially saying government can't compelling need to do anything but they can -- -- and that's how this stance what if you don't wanna.
If you don't pay that tax you're basically nodding to the basement like not paying your taxes with the Internal Revenue Service pack so it's almost like saying you do you taxes the other government 500 -- you don't pay.
-- you haven't paid taxes same thing happens also is part of this the Medicare.
Has been narrowed a bit under the law it expands Medicaid Medicaid is a fair as a share program federal and state expenses.
And got in that expansion.
The federal government under this law has the authority to pull all Medicaid funds from a state if that state does not expand Medicaid under this slop.
What this does -- call that a gun.
Today ahead if a state chooses not to expand Medicaid under this law.
The secretary of health and human services cannot remove all Medicaid funds -- can only.
Just basically say OK well you're not complying with that part we're not giving you the Medicaid funds to comply with this law.
In the dissenting justices Scalia Kennedy Thomas and Alito say this all exceeds federal power the government and not compel you to do something.
What's this law does they say that they are in the minority five for almost all of the president's health care law stands in long.
Yeah weren't a surprise win for many people and a surprise willing bank chief Justice Roberts.
-- drink and get.
-- aren't needed good luck out there daily if those protesters they hear -- in the background.
And we're -- Go back to Kate here we've been going to learn they're getting yeah getting these -- you guys get Greek economy get him.
So one of the comments from Richard walk re saying which kind of at -- with Shaun Cochran -- things and now I look forward to many more years of not working.
Since companies that we're going to hire have now decided to just drop their workers health insurance paid -- of -- fine and not higher.
So he's basically kind of actually want our small business owner yet been saying all along it's.
Even -- -- was a surprise to many people.
Even before we got it so many analysts and pundits were saying it's not gonna change anything.
People are gonna go out and hire this isn't gonna create -- it's kind of lake.
And not affect on the market.
Even having an effect on the market say you know I don't know -- down about a hundred.
150 points now is being ran down some of the health care stocks yeah stopping and falling right we've had movement in the health -- sector but this is going to be a down day regardless because of the EU summit and then.
Disappointing economic news we got.
On jobs as well as growth here in the US hospital stocks -- -- that a group of 8% in many cases.
In stores were down -- down -- -- came up a little bit.
So you know some people say as long as there's more bodies in the system and that's what this ruling does -- Everyone needs health Andrew Bartlett others here there all -- customers you're gonna do well and premiums will go down.
But that means for small business is again insert into -- -- tax policy and what that means for -- taxpayers is you know as a whole.
Right okay here's -- question of the day and -- -- keep writing on the chat what do you think about the decision by the Supreme Court to uphold the individual insurance requirement.
In the health care over -- agree disagree or.
You don't know yet anymore -- -- -- you.
Sure we have one more from Tom Baxter he said filings actually my dream and November 2010 by opening my own business in this struggling economy -- barely able to hated businesses bill.
Not been able to pay myself with so many small business owners can't they you know they don't break even -- yet turn a profit for five years and much less buying insurance my wife -- works part time for Wal-Mart because it's only jobs can find because she -- fairly ultimately we cannot afford to buy insurance against this -- -- -- is -- -- more of these negative comments from our.
You're right well you know before all this happen I have my cheat sheet here right and I was saying well if this happened if this happened or of this happen -- the and the -- the possible consequences for each one.
So in my -- yes.
If allowed was upheld as it was although was using him to getting -- yeah cut invested in.
It was upheld.
It's a win likely set for uninsured people.
-- to win for the president this is now.
Mitt Romney is Republican contender has awaited comeback and attack him but this this is -- -- for the president this is what yeah.
He got it done.
And it's a little -- the losing sector and party here -- this.
Being that who pays promised the cost it's still a question.
I think yeah I know we love it go anywhere in early back down yes IT so it's really an ongoing dialogue over it'll be big factor in the election as.
Reiterated that point to me this morning so yen and CBS self senior U red hot -- -- and he says how the 23 million.
Unemployed going to pay.
The tax -- the millions of on and exactly.
What we asked -- that same question me don't senior -- the tax.
What happens and all this is let -- let -- facts framing two years and it doesn't going to affect and other subsidiaries exactly.
And it seems like this is just maybe -- bigger burden.
On that the tax -- now.
It seems like we're constantly shouldering.
Everybody -- that's that the groups are saying -- I -- -- it.