Wednesday, September 19, 2012

ObamaCare – An Explosion of Regulatory Burdens: Nearly 80 million hours in regulatory compliance; half hit small businesses

From House Committee on Ways and Means:

According to former Internal Revenue Service (IRS) Commissioner Fred Goldberg, and supported by the Obama Administration's own figures, ObamaCare " its current form will be a needless administrative and compliance quagmire for millions of Americans."

Based on IRS estimates approved by the Office of Information and Regulatory Affairs at the Office of Management and Budget, ObamaCare will take American job creators and families nearly 80 million hours to comply with.  Over half of that will fall on small businesses.

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.