Bad for business
Commentary
The Great Regulation Charade
Cry Wolf Quotes
The Senate Finance Committee stands between us and stands between businesses that are almost prostrate, stands between us and destruction, and we feel that we can come to you for support and for protection. You will have no taxes to pay anything with if you do not keep American industry alive, and we have a right to depend on you gentlemen to do it, no matter what propositions, impractical propositions, are brought up.
[The bill] tends to retard the increase of pay rolls, because of the absorption of this amount of money for taxation purposes; it retards the increase of employment also. It is a permanent tax, with no limit, regardless of economic conditions in general or of the individual company. In other words, it may be the last straw, as I said before, that puts this company over the line into bankruptcy.
Finally, we vigorously oppose proposals that would mandate a minimum benefit package. This requirement goes beyond the problem being addressed and infringes on the right of employers and employees to develop the kind of health care coverage they want and can afford at a time when employers and employees are being very creative in the design and are negotiating a very hard line with the providers and carriers of health care for more cost effective health care plans. Such a requirement would be particularly onerous to small businesses, which have been most severely affected by the recent recession.
By applying the paycheck rule broadly, it is possible that claims could be filed decades after an allegedly discriminatory act occurred. By applying the rule to pension annuities as well, a cause of action could arise decades after the individual ceased to work for the employer….Subjecting employers to such claims would literally lead to an explosion of litigation second guessing legitimate employment and personnel decisions.
