Host Dennis Tubbergen has weekly guest experts who also share their opinions on the economy.
Grand Rapids, MI -- (SBWIRE) -- 11/05/2012 -- Financial advisor Dennis Tubbergen keeps busy advising his own clients as CEO of USA Wealth Management, LLC. But Tubbergen also writes a financial blog, a weekly newsletter that can be found at http://www.moving-markets.com, and is host of a weekly financial radio show.
For those listeners who have a hard time listening to his broadcasts on the radio, you can still catch Tubbergen's shows (and his weekly guest experts in the realms of finance, economics and politics) by going to http://www.everythingfinancialradio.com and tuning in to the podcasts of his shows.
Last week's guest was Jeffrey Albert Tucker, the executive editor of Laissez Faire Books. Tucker is past editorial president of the Ludwig von Mises Institute and past editor for the Institute's website, Mises.org.
Tucker is also an adjunct scholar with the Mackinac Center for Public Policy and a faculty member at Acton University
On October 23, 2012, Tubbergen's blog was titled, "More Unintended Legislative Consequences?"
"Obamacare, as the Patient Protection and Affordable Care Act is known, like many pieces of legislation before it, is already having some unintended consequences even though it is more than a year until the law takes full effect," began Tubbergen. "ABC News reported that Darden, the parent company of restaurant chains like Red Lobster and Olive Garden, is testing a program that will move more of the company's full-time employees to part time."
Tubbergen goes on to quote from the October 11, 2012 Associated Press article, "The owner of Olive Garden and Red Lobster restaurants is putting more workers on part-time status in a test aimed at limiting costs from President Barack Obama's health care law.
Darden Restaurants, Inc. declined to give details but said the test is only in four markets across the country. The move entails boosting the number of workers on part-time status, meaning they work less than 30 hours a week. Under the new health care law, companies with 50 or more workers could be hit with fines if they do not provide basic coverage for full-time workers and their dependents."
The article goes on to state that Darden "is not alone in looking at ways to keep labor costs in check, with companies across the industry prepping for the new regulations to take effect."
The article also quotes Paul Keckley, executive director of the Deloitte Center for Health Statistics, as saying that follow-up legislation may be in order to prevent companies from shifting more workers from full time to part time to avoid having to provide health coverage.
"I don't know who Paul Keckley is," stated Tubbergen. "Never heard of him before reading this article. But I do know he doesn't know anything about running a business. The bottom line is this - if a business cannot be run profitably, it gets shut down. To suggest that the government pass 'follow-up legislation' to ensure that companies don't shift workers from full time to part time would only ensure that no full-time workers ever get hired in the first place."
Tubbergen adds, "The intent of the healthcare legislation was to make sure that Americans had access to affordable healthcare. One of the unintended consequences of the legislation will be more part-time, lower-paying jobs with no benefits."
Tubbergen believes that politically speaking, it might look good for awhile as the unemployment rate may decline; however, it will decline only because the number of those employed rises as more workers will be able to find only part-time work.
"More workers working in lower-paying jobs is a trend that has gained momentum over the last couple of years," concludes Tubbergen. "Obamacare's unintended consequences will likely accelerate that trend."
To read the blog in its entirety go to www.dennistubbergen.com and select his October 23, 2012 entry.
Tubbergen’s syndicated radio show can be heard on metro Michigan stations WTKG 1230 AM and WOOD Newsradio1300 AM and 106.9 FM.
About Dennis Tubbergen
Dennis Tubbergen has been in the financial industry for over 25 years and has his corporate offices in Grand Rapids, Michigan. Tubbergen is CEO of USA Wealth Management, LLC and has an online blog that can be read at www.dennistubbergen.com. To view Tubbergen’s latest Moving Markets? newsletter, go to www.moving-markets.com.
The opinions expressed herein are those of the writer and not necessarily those of USA Wealth Management, LLC. This update may contain forward-looking statements, including, but not limited to, statements as to future events that involve various risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual events or results to differ materially from those that were forecasted. Therefore, no forecast should be construed as a guarantee. Prior to making any investment decision, individuals should consult a professional to determine the risks, costs, benefits and fees associated with a particular investment. Information obtained from third party resources is believed to be reliable but the accuracy cannot be guaranteed.