McDonald's Corporation about to be wacked by Obamacare
What will be the full economic effect of Obamacare? Is this just another story about rich businessmen crying or will small businesses really be laying off tens of thousands workers? Will Obamacare cause another recession? Does anyone have an answer?
Here's one thing you likely won't find a McDonald's franchise owner happy to ask his employees anytime soon: “Would you like a side of health care with that shake?”
That’s because some of the fast food chain’s franchisees say that the costs associated with President Obama's health care reform law will cut deep into profits, according to a recent survey of 25 McDonald’s owners conducted by Janney Capital Markets obtained by The Huffington Post.
One franchisee even went so far as to say, “Obamacare will negatively hit us like nothing else," according to the survey.
“Obamacare is going to destroy already low profits, [and] McDonald‟s Corporation does not seem to care,” adding, “the future looks BLEAK.”
McDonald’s did not return a request for comment from The Huffington Post.
McDonald's franchisees are not they only people worrying about the costs associated with Obamacare, which requires businesses with 50 or more full-time workers to provide health care coverage to employees. Corporate chains and small businessesalike have expressed concern that the new health care law will hurt their bottom lines.