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FOXBusiness.com’s Kate Rogers on NABE’s lastest economic policy survey, which found economists believe health-care costs will grow exponentially o...
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-- we're gonna bring in our own Kate Rogers -- of the small business specialist for foxbusiness.com.
And Kate thank you for joining us.
And a hot button topic -- -- not only because it's an election year but health care and it it's a perennial if you will concerned.
Among the small business owners employees -- -- everyone obviously is concerned about health care cost.
And -- a new survey out now saying it's it's gonna go up and not just go up but expeditiously over the next decade.
Absolutely yes of the national association of business economics they released there.
-- -- -- they do this every six months or at least economic policy survey.
This is on Monday and they found.
That 60% of economists surveyed.
Believe that fewer and fewer employees are going to continue offering health care to their workers over the next decade.
And -- and why is that what did they have did they get -- next up and tell us why they'd seen wow.
Then three quarters of the economy serving -- there is about 300 economists surveyed non members of any -- and they said that.
Health care costs are going to grow exponentially as a part of the shared GDP over the next ten years.
If -- population obviously -- That of course and this is all if Obama care is not repealed so this is -- have the first survey that CEO look at what economists think.
Obama care law could do for businesses of all sides -- the -- and it comes offering health care for their workers.
Tended to give us an idea how much they think it's gonna go up over the next decade is -- pretty astounding yeah I will also.
-- of course this goes into effect in 2014 and you know what we've covered on the show before if you fail to offer.
Health care for your employees -- your business.
29 employees or greater you need to start offering health care face this 2000 dollar fine per worker per year.
And health care.
You know generally cost 4000 dollars per worker per year so a lot of the small business -- -- -- in the past they think that.
Many small businesses will opt to pay this fee rather than continue.
Or start to offer coverage -- -- -- -- thirty some employees it could work out to be on a lot less expensive exactly so I think that's shown here in this survey that these economists think that fewer and fewer employees.
Employers excuse me you're going to offer this -- -- there workers over the next decade.
And it didn't they go on beyond health care to write and they talked about tax policy obviously a very hot button issue it points the current tax regime -- scheduled to expire in new as we head towards that fiscal cloudy absolute.
-- as a little bit about the findings from that.
Yes actually so the survey had mixed responses -- Chinese economy is sound on tax policy.
On the one hand on the one hand -- that there cannot priority -- -- economist after all yes they have to have all their bases covered it could sell about 15% and said that they would like to see our current payroll tax rates.
Second please permanently -- at this at the -- that they currently have permanently.
And in addition to that.
Between 35 and 45% said that they want to see permanent extension of our curry in -- tax streets dividend taxes and capital gains tax rate they think about -- -- -- a positive effect overall on our economic climate.
So one last thing -- they hit on in the survey was -- is negotiation with today's they said it is obviously not favorable am I.
And that will go into effect of congress fails to act on our pending fiscal Clinton so it's.
We don't know winner that's happened here have been of course economists have to look out and in sort of project this.
-- eating major surprises.
In the service.
Why wasn't I wasn't surprised at all by then there around -- on sequestration because the house small business committee actually had a hearing last week on the same topic.
And what they said I they had testimony from a researcher at George Mason university -- he said that if this goes into effect.
Two point com fourteen million jobs are gonna be lost and that small businesses in particular gonna sever.
More than 50% of those job losses this have a that you don't think.
Yeah and a lot of it's going to come from federal contract right I was gonna ask about that all businesses do is a lot of that -- Ahead Defense Department and others maybe now and the end it's already said -- -- sort of an idea.
Do you think those government jobs are you know people who work for the government and airlines that are impacted but really it's gonna hit home for -- About eighteen and 50% of those losses are going to be for small business owner.
So they outsource a lot of things from -- -- consulting jobs to.
Other jobs -- to companies and did any particular geography wouldn't think around Washington DC but maybe not necessarily for government contracts.
Yeah they mean it that goes right down to your local -- -- going they're doing construction and you know laying concrete things like that after.
Local small businesses -- there are going to be hit hard.
Kate Rogers from foxbusiness.com.
This story is but foxbusiness.com.
Thanks very much for joining us we all they're having an.
