Union that Backed Obama: Obamacare will slash wages by up to $5 an hour

Unite Here, a union that represents around 300,000 hospitality workers and one of the first unions to back President Obama’s candidacy for president in 2007, issued a staunch rebuke of the healthcare law, saying it will slash wages by as much as $5 an hour. The report, titled The Irony of Obamacare: Making Inequality Worse, also adds that Obamacare will limit competition in the healthcare market and reduce workers’ hours in addition to reducing pay.

A majority of businesses close to the 50-worker employer mandate threshold said they planned personnel moves to stay below 50 full time workers.

Investors.com, website of Investors Business Daily, has documented 388 public announcements of plans to reduce workers’ hours or cut jobs since early 2012, and several large businesses have eliminated health insurance for part time workers, providing a counterpoint to the Administration’s reassuring statements.

Better late than never. If only Unite Here has considered these concerns, voiced by many Americans, before they endorsed Obama.

The full report can be found here.