Obamacare will push the equivalent of about 2 million workers out of the labor market by 2017 as employees decide either to work fewer hours or drop out of the job market altogether, according to estimates released Tuesday by the Congressional Budget Office.
The analysis set off a furious debate in Washington. The White House argued that the reduction is positive because it means Americans will forgo jobs or extra work to stay home with their children or strike out on their own as entrepreneurs. Republicans, however, said the report amounted to an “I told you so” moment and that subtracting the equivalent of 2 million workers can’t be good for the economy.
The CBO said the number of workers dropping out of the labor force will grow from 2 million in 2017 to 2.5 million by 2024.
Although part of those numbers are attributed to job cuts, the vast majority represent workers who decide it makes more sense to stay home or work fewer hours, weighing the higher taxes they pay in the workforce versus their qualifications for benefits if they drop out.
“CBO estimates that the ACA will reduce the total number of hours worked, on net, by about 1.5 to 2 percent during the period from 2017 to 2024, almost entirely because workers will choose to supply less labor — given the new taxes and other incentives they will face and the financial benefits some will receive,” the nonpartisan tax agency said in its economic outlook.Read the rest of the story HERE.
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6 comments:
Bosman- It says banned when I try to post upon the chat?
I have never used expletives etc, and you commented prior that you do not ban anyone?
I do also post material which you have given a H/T for.
Romneyman you're not banned.
I'm the only one who can ban in chat.
NO one is banned. I just checked to see if there was an error on my end. there isn't.
Thanks for replying.
I get this message "Posting failed. You cannot post - you have been banned."
I tried re-starting my computer, as you commented before that you don't ban people, but still the same.
I tried putting a dummy name in to [on the chat box], other than the 'RomneyMan' username, same deal. I tried on Firefox and IE10. Same deal?
I've also now tried turning the internet live box off and back on again. No joy.
Plus tried on a bud's computer on the same internet box (same IP) still the same?
Romneyman,
It's got to be on your end..IP related. Did you try the private broweser option that most browsers have?
As a last resort try a web proxy like, Hidemyass.com (that assigns a different IP address to you.
Hopefully it's just a fluke and will clear up. I've checked with CBOX again and you or your IP is not banned.
Cheers,
It seemed okay last night eventually.
I did turn the internet live box off for a few hours, completely pulled the plug out etc. When I turned everything all back on later, it was okay to post again on the chat.
So hopefully it was one of those annoying unexplainable computer things.
I'll try again later and hopefully it's all still fine.
I'm typing this on a different computer/IP/location at the moment, so can't try it out again right now.
Like I said, hopefully it's all fine now, as it was eventually last night.
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