Another melodramatic multi-gazillionaire has been at it again.
Papa John’s International Chief Executive Officer John Schnatter — a supporter of former GOP presidential nominee Mitt Romney and opponent of the Affordable Care Act — said he estimated compliance with the healthcare reform law would cost his company about $5 to 8 million annually.
The company made $1.2 billion in revenue last yer, with total operating expenses of $1.131 billion and a gross profit of $87 million.
On and on people go. Either loving or hating this new act, also known as Obamacare. Yet I seriously doubt anyone has even read even a portion of it. Our system is broke, except for those who make enough money to cover the rising cost of premiums as well as the deductibles and the portions not covered by the insurer. I have heard many people retort, “this is the first time someone is being taxed for NOT buying something,” – and they have a point, but a different perspective puts a completely different look on this whole tax penalty.
Let’s take a look at this “tax penalty” from a different angle….