Obama ran on a platform of higher taxes and got re-elected because he was able to convince voters that only ‘other’ people would be affected by his tax increases; that he was the candidate of the poor and middle class, and Romney, the out-of-touch candidate of the rich. The voters bought it. When the most basic economic concepts were presented, Obama called it “trickle down Economics,” convincing voters that the idea that raising taxes on businesses actually hurts the middle class, was some sort of myth.
It’s going to be interesting to see the voters actually feel the effect of their decision. Here is a short list of some of the companies that have announced their plans for layoffs as a result of the ObamaCare provisions that were conveniently set to take effect after the election:
- Smith & Nephew – 770 layoffs
- Abbott Labs – 700 layoffs
- Covidien – 595 layoffs
- Kinetic Concepts – 427 layoffs
- St. Jude Medical – 300 layoffs
- Hill Rom – 200 layoffs