Cook Medical Scraps Plans to Expand Production in USA Because of ObamaCare Tax: Looking to Go Overseas – LINK
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Get ready to pay more for your Papa John’s pizza if “Obamacare” goes into full effect … a whopping 15 to 20 cents more.
John Schnatter, chief executive of the pizza chain, is bashing President Obama’s healthcare reform law as a policy that will force the company to choose between its customers and its investors.
And if the Patient Protection and Affordable Care Act rolls out as planned in 2014, Schnatter’s strategy is “of course … to pass that cost on the consumer in order to protect our shareholders’ best interest,” he said in a recent conference call.
Schnatter estimates that the legislation will cost Papa John’s about 11 cents to 14 cents per pizza, which equates to 15 cents to 20 cents per order. An average delivery charge runs $1.75 to $2.50.
The National Restaurant Assn. has criticized the healthcare legislation for having a chilling effect on expansion and hiring in the industry, which tends to be labor-intensive and burdened with thin margins.
Chains such as White Castle and Burger King have predicted surging costs due to the new regulations, which require businesses with 50 or more full-time employees to offer healthcare to such workers and their dependents.
And ObamaCare is designed to make the cost of that insurance rise dramatically.