Tag Archive for 'Obamacare'

POLL RESULTS: New Obamacare compliance is coming for small businesses in 2016. Do you know how it applies to you?

The Question:

New Obamacare compliance is coming for small businesses in 2016. Do you know how it applies to you?

11% - I am prepared to comply with new Obamacare rules.
9% - I am not yet in compliance, but know what to do.
23% - I am not in compliance, and still don’t know what to do.
57% - My business does not have to comply with Obamacare.
Jim’s Comments:
Most small businesses have fewer than 50 employees, which is currently below the criteria for having to comply with Obamacare under the employer mandate. So I’m not surprised to see that our sample responded with 57% in this category.
But I am surprised to see that about a third of our folks still aren’t yet in compliance. The reason is likely that we’ve all seen how many times the law has been unilaterally changed by the Obama administration — more than 30 since 2010 — including moving compliance date deadlines. Why jump through a bunch of hoops if you don’t have to, right?

However, I think Obamacare is where it’s going to be for now, so if you have to be in compliance, either do so or know your exposure for non-compliance. Good luck.

Thanks for your abiding support of our poll each week. Check out our new one below.

http://survey.constantcontact.com/poll/a07ec20m7kriiucwr57/start.html

Jim Blasingame’s 2016 Crystal Ball Predictions

Here is the 16th edition of my New Year predictions.

· Wall Street’s digital greed, Washington’s anti-business policies and collusion between the two continue to create a moribund Main Street economic environment for small businesses.

· With a declining global economy and having exhausted financial manipulation options since 2008, capital markets will struggle in 2016.

· Main Street small businesses that are mature and established will fare well in 2016.

· Economic and regulatory pressures, plus demographic trends will perpetuate an unprecedented population decline in small businesses.

· New Crowdfunding rules lowering the standards for direct investment in small businesses will not become a funding silver bullet for this sector.

· Unlike its investor equity sibling, Crowdfunding lending will proliferate across the small business sector (especially with Generation Y) at the expense of traditional banks.

· Global headwinds, the specter of terrorism, seven years of anti-business policies from the Obama administration, and the unprecedented drama of presidential politics will all contribute to a flat 2016 economy, with annual GDP stuck below 2.5%.

· The perfect storm of a slowing global economy, a crude oil glut, newly approved exports from U.S. producers and OPEC’s loss of pricing power, will keep crude averaging below $50 per barrel.

· Slow global growth and deflationary threats will prevent the Fed from making more than one rate increase in 2016, if that.

· Due to the sustained price decline in crude oil, Putin and Iran will become more desperate and dangerous, using nationalism to distract citizens from their declining economies.

·  In an unprecedented response to ISIS, moderate Muslims around the globe will denounce intolerance and violence in the name of their religion in more actively claiming their role as the 21st century stewards of Islam.

· You will hear more about blockchains and distributed-ledger technology applications, disconnected from Bitcoin. This is very complicated stuff, but it’s the future of currency and capital management, so just start learning.

·  A mere shadow of its former self, Obamacare will continue to collapse under its own structural defects, causing the President’s namesake policy to go from legacy icon to caricature.

·  Already referred to by pundits as “the lawless president,” in his last year Obama will increase his assault on the Constitution with more unprecedented, and now desperate, executive actions.

· Obama’s newest Constitutional assault will be on the 2nd Amendment. Buckle up.

· Obama’s Justice Department will not indict Hillary Clinton in 2016, but as evidence of her lying achieves critical mass it will cost HRC Millennial votes, who value honesty over political ideology.

· The GOP primary process will not produce an apparent nominee going into their convention, unless it’s Trump or Cruz.

· Republicans will not win the White House unless the ticket includes a Hispanic and at least one person from Ohio and/or Florida. Look for Trump/Rubio or Cruz/Kasich.

· The social conservatism of Republicans and the socialistic economics of Democrats will create electoral challenges for both parties in 2016.

· If Trump wins the election, it will be because he’s the only candidate most likely to avoid defending the bankrupt elements of either party.

·  A liberal member of the Supreme Court will exit in 2016, probably in the first half.

· With every member of Generation Y, aka Millennials (80+ million born 1978-1998), old enough to vote in 2016, the electoral influence by this generation is now at critical mass.

· More than just a president, the 2016 election results will reveal the future trajectory of liberty and opportunity in America.

· Alabama will become the NCAA Football Division I Champion.

Write this on a rock …My 15-year record is almost 73% accuracy. Politics may put that average in jeopardy this year.

Jim Blasingame is author of the award-winning book, The Age of the Customer: Prepare for the Moment of Relevance.

POLL RESULTS: The Supreme Court and Obamacare

The Question:

The Supreme Court may strike down a major component of Obamacare this month. What do you think?

5% - I like Obamacare and hope they don’t change it.

66% - I don’t like Obamacare and hope they strike it down.

18% - I won’t be impacted either way.


11% - I don’t know.


Jim’s Comments:

As you can see, the Affordable Care Act is not popular among small business owners. The primary reason is it isn’t more affordable than what most of us already had, plus it has added extra regulatory complications to our lives.

But stay tuned, because sometime this coming week the Supreme Court will likely announce their decision on King v Burwell. This case has many implications that I’ve either written about or talked about with experts on my show. Here are the main points to keep in mind:

* If the decision goes against the Obama Administration, it would essentially void many of the law’s key components, making it a shadow of its former self.

* If the decision goes for the President, it would establish that the IRS can interpret laws as they see fit, rather than as written.

This may not be the most significant ruling in the history of the high court, but surely it’s one of them. Say a prayer for the Constitution.

Results of my 2014 Crystal Ball Predictions

Here are the results of my 2014 predictions, what happened and my score.

Prediction: Five years after the Great Recession ended, the economy will average less than 3% growth. Actual: Although surging, 2014 GDP will be about 2.3%. Plus 1.

Prediction: Even with a slightly improved economy, small business (SB) optimism levels will still be below the NFIB Index’s 41-year average of 100 points. Actual: NFIB Index 2014 SB optimism is below 95 points. Unfortunately, plus 1.

Prediction: Continued uncertainty for the sixth straight year will make SBs reluctant to invest and borrow money. ActualNFIB Index shows small businesses loan demand and investing at record low levels. Plus 1.

Prediction: Uncertainty about Obamacare’s impact will cause SBs to continue hiring reluctance. Actual: NFIB and other surveys shows SB hiring still negligible. Plus 1.

Prediction: Obamacare will continue to be an economic headwind in 2014. Actual: Owners and managers continue to identify Obamacare as a significant negative factor in business decisions. Plus 1.

Prediction: More significant than the media favorite U3 unemployment rate, the employment participation rate, currently 63%, will remain at a 38-year (Carter) record low. Actual: Current labor participation is 62.8%. Plus 1.

Photo by Garry Knight on Flickr.com

Photo by Garry Knight on Flickr.com


Prediction: The Fed will discontinue unprecedented quantitative easing (QE) that infused trillions of dollars into Wall Street since 2008 without benefiting Main Street. Actual: Fed ended QE in October. Plus 1.

Prediction: A combination of disruptions will produce a challenging year for Wall StreetActual: Nothing seems to impede the madness of Wall Street crowds. Can you say bubble? Minus 1.

Prediction: Obamacare’s constitutionality will be challenged by many lawsuits. Actual: Currently 104 lawsuits have been filed against Obamacare, including one before the Supreme Court. Plus 1.

Prediction: Democrats running for re-election in 2014 will run from the president. Actual: No Democrat wanted Mr. Obama anywhere near their campaign, but it still didn’t help. Plus 1.

Prediction: The GOP will regain control of the Senate and maintain a majority in the House in November. Actual: Republicans swept almost everything, from the Senator down to dog catcher at the local level. Plus 1.

Prediction: President Obama will prevail on immigration but will lose on minimum wage. Actual: Immigration win by Obama’s executive order but no minimum wage increase. Plus 1.

Prediction: Hillary Clinton will not announce her 2016 presidential intentions before the mid-term elections. Actual: Everyone knows she’s running; she just hasn’t announced yet. Plus 1.

Prediction: Auburn will defeat Florida State in the BCS Championship Game. Actual: Great game, but the Noles won 34-31. Minus 1.

Write this on a rock …

This year I’m 12 for 14, or 86%, taking my 14-year record to 73% (’08 was a rough year).

Jim Blasingame is author of the award-winning book, The Age of the Customer: Prepare for the Moment of Relevance.

RESULTS: What should be the priority of Obama and the GOP?

The Question:
As President Obama and the Republican majority begin their work, what should be their priority?

24% - Fix Obamacare
10% - Immigration reform
27% - Reform the tax code
5% - Foreign policy
34% - I’ll take anything if they’ll just work together

Jim’s Comments:
It looks like the big interest is in Obamacare and tax reform.  But more of you just threw up your hands and chose “I’ll take anything, if they’ll just work together.” That sounds like an indictment to me. What do you think?

Sadly, from the looks of things this week, we’re going to get anything but working together.

RESULTS: What are your future plans for offering health care to your employees?

The Question:
What are your future plans for offering health care (HC) benefits to your employees?

36% - We have and will continue to offer HC benefits.
11% - We currently have HC benefits, but plan to discontinue.
31% - We don’t have HC benefits and won’t provide them in the future.
0% - We currently don’t provide HC benefits, but plan to start.
22% -  We don’t have employees.

Jim’s Comments:
Of our respondents who have employees, those who provide healthcare benefits are not far below those who don’t.  I’m taking that as a good indicator. The response that is troubling is that 11% are currently providing coverage but plan to stop, plus no one reported they were planning to start offering healthcare benefits.  Part of the reason might be associated with economic conditions, but based on what we’re learning, it’s my opinion that the imposition of Obamacare is also involved.
I’ve been very outspoken about my opposition to Obamacare. Unfortunately, every day that goes by Obamacare continues to affirm my predictions that it’s a bad alternative to what we had and what could have been done to accomplish real reform. On my radio program this week I asked healthcare policy expert, Grace-Marie Turner, President of the Galen Institute, if 2015 was going to be the worst year yet for Obamacare? She said every year is going to replace the previous one as the worst year of Obamacare. Click here to listen to our discussions.




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