Posted on 03/30/2010 3:25:48 AM PDT by Scanian
Henry Waxman is peeved. He expects corporate America to swallow health-care reform without a peep of protest -- and, apparently, without revealing new costs to shareholders or the Securities and Exchange Commission.
Last week, AT&T announced it will take an immediate $1 billion write-down thanks to a new tax in the health bill that will cause Caterpillar ($100 million) and Deere & Co. ($150 million), among other large employers, to do the same. The benefits consultancy Towers Watson estimates that the change may reduce corporate profits by as much as $14 billion over time.
That's real money. For comparison: It's enough to bribe Sen. Ben Nelson of the Cornhusker Kickback 140 times over; it's three times the amount Democrats poured into a (failing) weatherization program that once was a highlight of the stimulus bill; it represents 10 percent of the supposed deficit reduction of health-care reform over 10 years.
(Excerpt) Read more at nypost.com ...
When will General Motors properly disclose their share of these costs?
Are they exempt from the taxation and additional costs?
Stockholders want to know!
Absolutely the best triple post I have ever witnessed here
on FR.
You know, obamma is starting to act more and more like chavez, his buddy! Where will this country be in 3 years?
The government provided this subsidy to help offset the financial burden of offering prescription drug benefits to retirees and with the goal that retirees would be less likely to rely on the Medicare Part D program
So the government is giving money away to avoid giving money away? That makes a lot of sense.
One
Big
A$$
Mistake
America!
Hey Waxman, have you ever heard of Sarbanes-Oxley you DUMBASS! You know, the law that YOU HELPED PASS that REQUIRES CEO’s to IMMEDIATELY disclose anything that is going to negatively affect earnings or financial condition of the company?
That "rushing" sound you hear is former employers fleeing Obamastan!
Apparently somebody at these companies has actually read the bill even if idiots like Waxman still haven’t.
Hopefully, some of these attending CEOs will have the man dangles to conrfront Waxman on Sarbanes-Oxley.......
To be fair, where was this bill posted in its entirety so that these companies could know what was in it?
I don't think that even the idiots that voted for it knew what all was in the bill.
I don’t know. But it depends on whether they were offering precription drugs to retirees and taking the federal tax deduction. If so then I am not aware that are specifically spared this tax increase
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