Over 75% of small businesses say Obamacare will cause higher taxes 

Obamacare has failed to help small businesses deal with high health insurance burdens according to a new poll commissioned by the National Federation of Independent Businesses. Conducted a little over year after Obamacare became law by the respected Mason-Dixon polling firm, the NFIB poll found that by overwhelming margins small business owners believe Obamacare will not slow the rate of health insurance cost increases, will not reduce administrative paperwork, but will increase taxes and add to budget deficits.

The NFIB report also dismisses Obama administration claims about the efficacy of the small business tax credits in the legislation. While President Obama has claimed that 4 million small businesses are eligible for the Obamacare tax credits, the NFIB notes that full credit eligibility is contingent on a four part test: 1) firms must offer health insurance; 2) firms must have fewer than 11 employees; 3) average annual employee below $25,000; and 4) firms must pay at least 50% of employee health insurance.

According to NFIB calculations only 245,000 small businesses qualify for the full credit under these criteria. Worse, the credit only lasts four years. The NFIB says the credit “provides virtually no incentive for non-offering firms to purchase health insurance.”

Most troubling, 12% of small businesses tell the NFIB that their health insurance plan has either already been canceled, or will not be available in the future.

The one bright spot for the White House: 68% of small business owners believe the law will expand health insurance to more people.

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