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Will the new Health Care Plan hurt Entrepreneurs? Listen to Stacey Blackman’s from BNET offer her observations:
Because the plan calls for businesses with over 25 employees to provide mandatory health coverage or be fined 8 percent of its payroll, McGrath believes this will not only have an ill effect on small business, but our economy as a whole. She writes:
With small business growth having led us out of most recessions in the past, get ready for this sector to add jobs far more slowly and with far greater caution than it had previously — a big blow to an economy that desperately needs a vibrant and growing small business sector.
McGrath also notes that under the plan households that make above $350,000 will face a surtax to pay for medical care. She believes that many of those taxed will be small business owners and entrepreneurs who would otherwise use that money not for luxuries, but for “working capital, inventory, marketing and other unglamorous business necessities.”
Ray Kurzweil is one of the most recognized inventors of the last 4 decades. Inc. Magazine calls him “the rightful heir to Thomas Edison”, the Wall Street Journal refers to him as “the restless genius” and Forbes, “the ultimate thinking machine.” Kurzweil made this fascinating “entrepreneurial’ statement in his futuristic work, The Singularity is Near:
It’s the economic imperative of a competitive marketplace that is the primary force driving technology forward and fueling the law of accelerating returns.
I remember reading an article in the Wall Street Journal almost twenty years ago when National Health Care first appeared on our radar. When asked about the impact on his practice, a Canadian surgeon identified that he was surviving despite having to use equipment over twenty years old.
Twenty years old? That means if you need your gallbladder removed today you would face over three weeks of recovery due to the necessity of receiving a subcostal incision across muscle in a 60 minute procedure rather than playing golf two days later after a 15 minute laparoscopic cholecystectomy.
Listen to Kurzweil: Drive Technology + Competitive Marketplace = Accelerating Returns, which produces what? Entrepreneurial incentive to act on their ideas, risk their resources on future rewards and… CREATE JOBS!
Or have your gallbladder removed the old way. I’ll set our tee time for mid-October.
ECONOMY HEROES 