Obamacare to cause massive job losses across food service industry
by: J. D. Heyes
Tuesday, September 18, 2012
It’s been labeled as one of the primary reasons why job growth in the U.S. continues to lag, but apparently no one at the White House is listening.
Obamacare is set to claim another casualty – the food service industry, one that is known for its low-paying positions and tight profit margins.
Granted, franchisers of all stripes were grumbling about the negative financial effects forced upon them by the massive Obamacare law, with its plethora of rules and regulations. Most attendees to the recent International Franchise Association in Washington, D.C., were complaining about all new federal regulations, but they emphasized Obamacare primarily, the Washington Examiner reported.
Initially, said David Barr, an Atlanta-area Taco Bell and Kentucky Fried Chicken franchiser told the paper, most business owners believed the early reports saying Obamacare would impact them hard were overblown. “They had their head in the sand,” Barr said.
Costs to double, profits to be cut in half