Skip to comments.Deere (And Others) In The Headlights
Posted on 03/28/2010 4:08:30 PM PDT by raptor22
As major businesses lay out the impact of ObamaCare in dollars and jobs, two things are clear: the costs will be enormous, and the president's vow to focus on "jobs, jobs, jobs" can no longer be believed.
Early returns on ObamaCare are coming in, and they belie proponents' claims of job creation and cost reduction. The costs will increase. They are merely being shifted to the states and to America's businesses, large and small.
AT&T, the country's largest telephone company, announced Friday it will take a $1 billion first-quarter charge related to the new health care law. The noncash charge has been triggered by a change in the tax treatment of Medicare subsidies.
Bloomberg reports that health care charges may shave as much as $14 billion from U.S. corporate profits, according to an estimate by benefits consulting firm Towers Walton. That's $14 billion that will not be available for expansion, research and development, or the hiring of new employees.
(Excerpt) Read more at investors.com ...
We need a leader and soon.
Investors will be wise to exit stocks in most companies. The collapse is coming and unemployment will rocket even higher.
And Congressman Waxman wants to drag the CEOs before his House committee and threaten them.
Henry - you’re becoming exactly what you’ve always said you hated!
You’re acting now like a fascist!
Depressing earnings per share means the overall market goes down. How long will Wall St. and average investors put up with companies being worth less than previously thought?
Herr Chairman Heinrich Wilhelm von Waxman has already scheduled a hearing before the Commerce Reichstag Investigative subcommittee for April 21, where these vicious enemies of the People will be impelled to produce documents to back up these false claims against Obamacare.
Guess who chairs that sub-committee...
if true that these corporations were against
obamacare, then they would have lobbied for its defeat.
Waiting for the first CEO to say, “Congressman, have you no shame?” Probably they wouldn’t get the reference...
April 21st...anniversary of Greek military junta govenment take over
They; like us, didn’t kniow what was in the thing. Didn’t Pelosi tell everybody that we’d have to pass the thing to see what’s in it? Now we are finding out.
Then Clintoon had to set the rules for the pcs hi freq 3g cell auctions. Despite what the consultants told him would work, he insisted on auctions going to small, regional cell providers, with an emphasis on minority and women owned businesses. No nationwide footprint. This resulted in a lot of small yahoos grabbing a piece of the spectrum in one area that was important to compleating a nationwide footprint. It took decades and lots of anti trust lawsuits before companies like AT&T (Cingulair) could get a decent nationwide footprint and provide service like Asia had for 10 years.
Now Obama wants to do this to AT&T.
>>April 21st...anniversary of Greek military junta govenment take over
Also the anniversary of the Battle of San Jacinto.
Anyone who thought that Obaamcare was what was promised was a damned fool.
The hidden costs of this bill have jumped right out of the starting gate in the first week of it’s passing.
Certainly the companies are going to have to absorb these costs, but in the end it is Middle Income people who will absorb it. That us folks, and this is just the begginning of the consequences of letting a Muslim and his cronies in the House run our government.
Strange how the Demo-Fascists shove this unknown behemoth at the Americn public, fully acknowledging that they don’t know everything in the bill, or what it will really do. President Bush tried to reform Social Security, but the Demo-Fascies said that there were too many unknowns (February 04, 2005|Janet Hook, [L.A.]Times Staff Writer).
“And Congressman Waxman wants to drag the CEOs before his House committee and threaten them.”
I hope the Republicans come to the aid of the CEOs and question Waxman’s tactics. No free speech if you are a company or corporation according to Waxman.
If these companies don’t stand up and tell the fedgov to get f’ed then they deserve whats coming to them.
The reason these idiots like Waxman & Obama have no clue that companies have to take an accounting charge for the tax impact of the new legislation is (one) because they are career politicians and have never worked in the private sector, (two) have never understood the various accounting rules they impose on the private sector and (three) they don’t even think about the unfunded liabilities associated with things they create such as Social Security, Medicare, Medicaid and Obamacare
We'd be better off with no "leader."
So, somebody is lying.
Hmmmm. Let's see. Would it be huge Fortune 500 companies, in required disclosures, which they could be legally sanctioned for falsifying, and which, as submitted, negatively impact they're profitability and therefore their stock values?
Or would it be politicians, who are motivated to cover their asses, and having been lying with impunity about the same subject for a solid year now?
Oh the dilemma!
(Still, even though there is obviously massive bullshit involved, I would like to know the putative basis for the Dims' claims about drug benefit tax writeoffs.)
aka Fart Buttpak...