Posted on 03/29/2010 4:21:18 PM PDT by Kaslin
Politics: Rep. Henry Waxman vowed to haul CEOs into hearings after they revealed just how much ObamaCare will cost their firms. It's an absurd war on bookkeeping, from a Congress desperate to avoid heat for this fiasco.
In the wake of President Obama's presidential signature on the gargantuan Patient Protection and Affordable Care Act last Thursday, big companies have crunched their numbers and come up with an ugly picture.
In legally mandated filings, AT&T reported that ObamaCare will cost it $1 billion. Deere & Co. reported $150 million in new costs. Caterpillar must cough up $100 million. 3M must pay another $90 million. AK Steel gets to fork over $31 million. Valero Energy will pay $30 million. There'll be more as other companies report anticipated costs to fulfill their requirements to inform shareholders. What it shows is a huge wave of costs rolling over the private sector to pay for this bill.
It's the real cost of ObamaCare, a bill House Speaker Nancy Pelosi had touted daily as "paid for" in her pitch for Congressional votes.
Well, yes, as a matter of fact, it's paid for because everything is paid for. The question is by whom.
The coming costs are the result of a little-scrutinized ObamaCare provision ending a tax credit for prescription drugs. The credit had been there to encourage firms to carry those costs for retirees.
As a result of ObamaCare's changes, companies now can either pay for those costs — and lay off workers, hold off expansion or move abroad — or scrap their prescription drug programs altogether, dumping their retirees onto the federal government.
(Excerpt) Read more at investors.com ...
There will soon be no private sector.
Sieg Hiel.
The private sector was ignored because soon there will not be a private sector. The only attention paid by Congress was to their socialist architects.
Vote that ugly SOB out in Novemeber
Make that November
I wonder if Nostril-damus can see his future.
“I wonder if Nostril-damus can see his future.”
Isn’t Nostra-dumbass the Vice President...??
I think it’s a great idea. If I was one of those CEO’s, I’d go to this shindig with my accountants in tow. Once I knew the cameras were on, first I’d tell Ratman to his face what I thought of him and the rest of his party. Then, I would shove my accountants and their documentation, one after another, and explain to our enlightened betters how their policies are affecting me and why. Then, we would try to explain to them (in as many one syllable words as possible) how the damage they are doing to me is probably being felt throughout the private sector. Finally, I would tell Ratman how I will be celebrating when he and his get theirs in November, leaving out no detail, down to the alcohol proof (I’m sure their concern about my health will be overwhelming by that time!).
Waxman is a rodent, and not an Easter bunny, thank you. I would continue my invective, but he is hardly the most important of the anti-american cretins that threaten our economy at present. Nancy Deadface needs to focused on, after Obama.
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