President Barack Obama's Patient Protection and Affordable Care Act will kill jobs by raising taxes on businesses and individuals, forcing them to hold off on hiring while also burdening them with more paperwork and compliance work, said Richard Jackson, CEO of Jackson Healthcare LLC, the third-largest healthcare staffing company in the U.S.

While the new law will provide access to healthcare for more people, it fails to revamp the fundamentals of the system as a whole and does little to address costs, Jackson added.

"It's a job killer," Jackson told Newsmax.TV in an exclusive interview when asked about the Affordable Care Act at the Republican National Convention in Tampa, Fla., last week.

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The president's new tax law raises taxes on investment income and elsewhere to pay for the overhaul.

Jackson Healthcare LLC, for example, is facing tax hikes of its own.

"Our taxes are going to go up 11 percent Jan. 1, 2013, for Obamacare because we are a Limited Liability Company and as you know, that's passive income. So that's 11 percent right off the bat — that's already 25 jobs — I can't hire people next year."

True reform will not just increase access for more people but will involve having more patients paying for healthcare and doctors given incentives to lower costs.

Editor's Note: Prophetic Economist Warns: “It’s Curtains for America.” See Evidence.

"Right now you have a very perverse free-market system. You have doctors who all control all expenses, and what I mean by that is it's illegal for you or I to put somebody in the hospital or order drug tests or devices or any kind of testing unless you are a doctor. They are the ones that are spending the money but they are not incentivized to create cost-effective healthcare," Jackson said.

"On the other side you have patients that get basically free medicine, they don't pay for it at all so they need to have skin in the game so whatever system you have, you need to be able to be honest, to create the ability for patients and physicians to have more power and more say and more skin in the game to solve the problem cost-effectively. I think it needs that as a fundamental element."

High costs, meanwhile, will continue to plague the healthcare system and the economy.

"Unless you reduce healthcare costs or have a better system, you are not fundamentally going to change anything. All you are going to do is just add to the perverseness of the free enterprise system," Jackson said.

"It's really laughable. It's the unaffordable care act, not the Affordable Care Act, and so it's amazing that somebody thinks that it will actually reduces costs."

Providing physicians and with incentives to cut costs, eliminating free healthcare for those who don't need it on top of tort reforms could reduce overall healthcare costs by up to 30 percent, Jackson said.

Otherwise, expect costs to rise over practices such as defensive medicine, in which doctors order tests and other procedures on patients with the aim of avoiding lawsuits.

Jackson Healthcare LLC analysis concludes that 26 percent of all medicine is somehow related to defensive medicine.

"Doctors practice defensive medicine because they are personally and financially liable. We are the only country in the world where that exists, where you go to work and every asset is on the line every day. You make a mistake and you can lose everything," Jackson said.

"They abhor litigation. We had an ER doctor talking about 'how I scan patients until they glow in order to avoid the lawsuit.' Until you fundamentally have the ability to eliminate those problems you are just not going to be able to get rid of defensive medicine and the problem is it's unnecessary."

Meanwhile, expect more doctors to leave the healthcare system and fewer to replace them, especially at a time when costs rise and more and more aging Baby Boomers demand more healthcare.

"We have perfect storm happening right now. We have the aging of the physicians themselves that are leaving, the frustration of physicians that are leaving and polls show that one out of three doctors will leave in the next ten years period, for a combination of reasons," Jackson said.

"It's a perfect storm to restrict access to patient care, and so I predict that we are going to have a real problem, especially for primary care and those kind of specialties."

Editor's Note: Prophetic Economist Warns: “It’s Curtains for America.” See Evidence.