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Layoffs have been a major issue of the financial crisis and many expect massive layoffs over Obamacare. The big banks world wide have cut over 160,000 jobs since last year. Elections do have consequences and business are finding that out first hand. Many companies are cutting workers from their core staff for various reasons. Among the most common are because health-care reform and changes in reimbursement for medicare and medicaid. These changes are forcing the health-care organizations that provide service to many companies to change because of new challenges. Its ironic as well that hospitals are cutting health-care workers because of the health-care laws. These hospitals are feeling the affects of Obamacare because it forces hospitals to pay for Obamacare using the funds that would otherwise be used to help medicare and medicaid patients. Moreover, the stock market has dropped around 7% since September and analysts in major financial institutions are warning their investors to expect another significant drop. Is it possible the increase in capital gains tax come January 1st has anything to do with this estimate? In addition, it is interesting to see that hard assets like gold (went up 18% this week) and palladium are trading higher as well. Ed Butowsky, wealth manager, financial advisor, and managing partner of Chapwood Investment Management, joins The Blaze TV with Wilkow to discuss how when local, state and federal governments raise the cost of doing business in that jurisdiction companies will find a new jurisdiction and how that concept is detrimental to our economy and ultimately to employment.
Ed Butowsky is the managing partner of Chapwood Investment Management and is an internationally recognized expert in the investment wealth management industry. Ed is also a frequent guest on other networks such as CNN, NBC, ABC, Fox News, Fox Business, and Bloomberg to name a few.
Tags: capital gains, financial advisor, health care, investors, jobs, layoff, medicare medicaid, obama-care, tax, the blaze, unemployment, wealth manager, wilkow