Complying With Obamacare Will Take 80 Million Man Hours Annually
We often talk about the cost of this or that policy, but often that cost is just what we will be taxed, or what the government will have to spend to administer the policy. What we don’t often talk about are compliance costs.
According to a new analysis, complying with Obamacare will require some 80 million man-hours annually. That’s time that could be spent doing more productive things that are actually profitable but will instead be used to comply with this arcane government health care power grab.
According to former Internal Revenue Service (IRS) Commissioner Fred Goldberg, and supported by the Obama Administration’s own figures, ObamaCare “…in its current form will be a needless administrative and compliance quagmire for millions of Americans.”
Based on IRS estimates approved by the Office of Information and Regulatory Affairs at the Office of Management and Budget, ObamaCare will take American job creators and families nearly 80 million hours to comply with. Over half of that will fall on small businesses.
Via Ed Morrissey, to put that into perspective, the Empire State Building took 7 million man-hours to complete, meaning that complying with Obamacare would be the equivalent of building 11 Empire State Buildings every single year.
Back in 2010 I wrote about the government having a hard time holding onto their health care bureaucrats because the private sector was looking to hire anyone with experience in health care administration in preparation for complying with Obamacare.
That’s a lot of capital going to pay for compliance with Obamacare that could be going toward investment in the sort of enterprise that creates jobs and prosperity.Tags: obamacare