Opinions about the Affordable Care Act, popularly known as Obamacare, are divided into two camps. Conservatives see it as an encroachment of government through unnecessary regulation and mandates that will hamstring business. Progressives see it as a step forward toward universal healthcare– a right that is already afforded to citizens in most developed nations. Then surely the CEO of a progressive-minded business, whose customer base is generally left-leaning, would be in support of Obama’s healthcare legislation?
Not so fast. Whole Foods CEO John Mackey has been an outspoken critic as of late on the problems that Obamacare brings to business. In an interview with CNBC, Mackey said coverage requirements could very well raise costs for his company and that in his experience bureaucratic mandates do not often have great outcomes.
Though a recent study showed healthcare costs may already be trending downward thanks to Obamacare, many requirements for businesses have yet to take effect. In the following clip from the Commonwealth Club, Mackey shares his thoughts on how the legislation will impact Whole Foods.