Posted on 03/28/2010 4:28:51 AM PDT by tobyhill
Seems the truth is about to be banned in the USA.
You are wrong and so is your source. The company got a deduction for the $720,000. They didn’t have to declare the $280,000 as income.
The $280,000 will now be treated as income to the corporation, raising their taxable income.
This is sort of like you having to declare a tax refund you get one year as income the next and paying tax on it.
The next action by Obama - cut the $280,000 the corporation gets and then the retirees will be dumped on medicare. Corporations will report a large gain on their books as the liability ceases and Obama will gloat that his change made companies more profitable without talking about how medicare is now responsible for 100% of the cost.
Yes congressman as soon as you provide proof of the veracity of every sentence in the law. You first
Will HC cost us Saved Jobs or New Jobs?
Pray for America
General Motors dropped its retiree prescription plan for union members.
Waxman, why don’t you and your fellow pirates just pass a law making criticism of the health “reform” bill a criminal offense?
They don't like this news because it puts the lie to everything they've been preaching.
You are wrong, and you have no source.
Now we have congress telling companies to hide their expenses and lie to shareholders?
We’ll see about house of cards coming crashing down.
I quite talking to people about this stuff. I can’t afford it no more. I warned everybody before the election.
All I heard was “I don’t know what he’s ahout.” When I inquired if they do, I was told I was a racist.
So. The only option they have is to believe the dream; There is NO other option. For if they contemplate the spawn from hell that they helped sire, the only option is for them to eat the gun. They must and will believe the dream; they’ve all taken the blue pill.
Mark my words well.
I can’t stand Henry Nostril man. He’s a control freak...
...The next action by Obama - cut the $280,000 the corporation gets and then the retirees will be dumped on medicare
Your analogy is absurd. The subsidy given to AT&T and the other corporations is not a tax refund. It is money provided by the taxpayers to help pay for drug prescriptions for their employees.
And then you state that the government is going to cut the subsidy out when it is clearly still a part of the HCR package that was just passed. Let's deal only in facts, not opinions.
He excels at lies and deceit.....
What if they held an inquisition and nobody showed up?
If you took a $10,000 charitable deduction on your tax return and as a result obtained a $3,000 tax refund, would you adhere to the idea that you should be reporting that $3,000 tax refund as income to you in that same tax year?
That is a simple analogy to what you are ascribing to when you align yourself with an article written by a person who wants to make this sound as though something sinister is at work.
No doubt you also were campaigning for making cash paid to citizens under Cash For Clunkers as taxable income also.....because it would make as much sense as what you just ascribed to.
Waxman lies about the cost of ZerOcare, but, when the true cost comes out he wants to demagogue the CEOs to backup his lies. If the companies back off they will be sued for not disclosing the cost or prosecuted for not paying enough. At the moment it really is not worth doing business in this country.
And if you say you don't, we want to see your internal communications and have you testify. A brave new (not so new, really) world.
The fines would have to be paid right up front whereas the savings from not having to pay for their insurance comes at the end of the fiscal year and that's where the write-off is.
This is the BOTTOM Line. Many companies are going to correctly determine it is simply a better business move to drop employee health care and pay the $750 to $3,000 fine per employee.
Many of us at FedEx were discussing this issue. There are about 135,000 FedEx employees in the USA. We figure conservatively FedEx pays out maybe $500mm annually for health care and medicine costs for the U.S. based employees.
Do the math. Even if the cost is $3,000 per employee, that cost is $405,000,000. That is a SAVINGS to FedEx's bottom line of nearly $100,000,000.
If you think about it, it is brilliant on High Priest Obama's part. He is DELIBERATELY making it punative for private companies to continue to provide health coverage as a primary benefit.
Imagine if FedEx, Caterpillar, Cisco, AT&T, Ford, Ford, and other huge multinational corporations simply push all of their U.S. based employees into ObamaCare. That HELPS further the control factor Obama seeks; more citizens forced into this program.
Why do you insist on calling this subsidy that is provided by the taxpayers to help pay for drug costs a "Tax Refund"? It is nothing of the sort. The government is paying for 28% of the cost of the drug benefits of their employees. They are not refunding any taxes!! And no matter how many times you call it a tax rebate, it will not change the facts.
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