Let’s Blame Obamacare For Everything!


AOL has decided to change the way it handles 401(k) retirement accounts. Instead of matching employee contributions monthly, it will make one lump-sum match at the end of the year. This screws employees and makes more money for AOL in two ways. First, they no longer contribute any matching funds at all for people who leave in the middle of the year. Second, employees don’t earn interest on their matching funds throughout the year.

So what’s behind this Scrooge-like nickel and diming? Can you guess? Can you? Here’s CEO Tim Armstrong:

In the CEO chair, let me give you an example of the decisions we have to make as a company: Obamacare is an additional $7.1 million expense for us as a company….As a CEO and Management Team, we had to decide “Do we pass the $7.1 million of Obamacare costs to our employees or do we try to eat as much of that as possible and cut other benefits?”

It’s Obamacare’s fault! The all-purpose punching bag gets the blame again. AOL’s health care expenses went up this year, just as they have every year since the company was founded, but this time it’s Obamacare’s fault. Why? Well, why not? It’s a mighty handy excuse, isn’t it? And it certainly distracts everyone from the fact that AOL is shafting its employees even though it just announced its best results in a decade.

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TIME IS RUNNING OUT!

We have an ambitious $350,000 online fundraising goal this month and it's truly crunch time: About 15 percent of our yearly online giving usually comes in during the final week of the year, and in "No Cute Headlines or Manipulative BS," we explain why we simply can't afford to come up short right now.

The bottom line: Corporations and powerful people with deep pockets will never sustain the type of journalism Mother Jones exists to do. And advertising or profit-driven ownership groups will never make time-intensive, in-depth reporting viable.

That's why donations big and small make up 74 percent of our budget this year. There is no backup to keep us going, no alternate revenue source, no secret benefactor. If readers don’t donate, we won’t be here. It's that simple.

And if you can help us out with a donation right now, all online gifts will be matched thanks to an incredibly generous matching gift pledge.

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