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80 million hours needed to tackle Obamacare tax rules
A week after small businesses warned that Obamacare taxes will eat up to half of their profits, a new government report reveals that simply complying with the new tax rules in the health care act will cost American families and businesses nearly 80 million hours–essentially a whole new tax.
Based on Internal Revenue Service figures, the House Committee on Ways and Means has compiled an estimate of the total amount of hours it will take to comply with the tax rules. The bottom line: 79,229,503 hours, most of which will fall on small businesses.
For fun, the committee gave a comparative example.
“So, what can be done in 79,229,503 hours? The Empire State building, which took 7 million man-hours to build, could be constructed 11 times. The Curiosity Lander could travel from Earth to Mars 13,048 times. Halley’s comet, seen from Earth once every 76 years, could be spotted 119 times.”
CrustyB
September 19th, 2012
Repeat after me: “Oh, How I Love Carrying Dung Up A Hill For The Glory Of Great Leader And The People’s Republic!”
creepers
September 19th, 2012
jeepers, what’s that progressive, destructive term for detroying a freemarket set of choisces again..OVERWHELM THE SYSTEM
yeah, i think that’s it
tenmegaton
September 19th, 2012
What a stupid mind numbing pile of shit we are getting thrust upon us. A good old fashion lynching sounds better all the time.
Stranded in Sonoma
September 19th, 2012
Repeal the 16th amendment and pass the FairTax. Problem(s) solved.
Billy Fuster
September 19th, 2012
I’m not complying.
Hotlanta Mike
September 19th, 2012
Main headline on The Drudge Report:
OBAMACARE TAX TO HIT 6 MILLION
MOSTLY MIDDLE CLASS
Looks like another Obama promise bites the dust…