Zane Tankel, a wealthy owner of over 40 Applebee franchises has attracted media attention by denouncing Obamacare and claiming that it will impose such burdensome expenses on him that he will need to fire workers, limit the hours of existing workers so that they are part-time and do not qualify for health insurance coverage, and cancel plans to open new restaurants. The media reaction has understandably focused on the public rage at such a wealthy man throwing his workers under the bus. I write to make a different point. Tankel illustrates some of the reasons why the Congressional Budget Office’s (CBO) projections of a purported U.S. financial crisis arising from the safety net are baseless.
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