Posted on 03/27/2010 7:46:04 AM PDT by JoeGar
The latest addition to the mounting list of U. S. companies that have been hit by the new health care law is AT&T Inc. The company stated on Friday that it would incur $1 billion in non-cash expenses in the first quarter of the year.
The announcement made by AT&T has been the largest amount reported till now. On comparison, Deere & Co. stated that it will be shelling out a one-time expense of $150 million and Caterpillar Inc. reported a first quarter charge of $100 million.
Among the many changes that have come about since its enactment, the health care law removed a tax deduction that companies used to cut for drug-benefit programs for their retired employees.
An excerpt from a government filing, AT&T wrote, “As a result of this legislation, including the additional tax burden, AT&T will be evaluating prospective changes to the active and retiree healthcare benefits offered by the company”.
Democrats are hopeful that the new health law will gain popularity in coming times, pointing out that considerable new subsidies for business are also a part of it.
Let's see if ANY senior votes democRAT next time.
the senior's won't be alive next time.
Thanks a F’n lot for nothing Pelosi, Reid and O! You lying sacks of dung have created a mess that will take responsible Republicans years to fix. Now shut your pie holes and quit transforming what isn’t and never was broken. We would like to remain the most powerful economy and Republic for many reasons, most of which is called “Freedom”.
I didn't think the death panels started until 2011.
I heard on NPR this morning conversation how this is going to be good for insurance companies and drug companies.
They continue to lie to America.
My company, which is run by a bunch of elite liberals in Napa, Ca., sent out a company email detailing how this bill would be bad for us. I’ll bet every Corporate Exec., including my boss, voted for Obama. Ivy league schools and business success, and they are still idiots.
“Keep this shi! going and someday when prices skyrocket the lame liberal nitwits we call King Obama lovers will realize it.”
I wish they would realize it...but they won’t. It will always be the evil capitalists and conservatives fault no matter what occurs in their lives. They truly believe that the companies should take the hit off their profit margins and how dare they run a profitable business how their shareholders see fit. The meme within the liberal progress/union set will never change regardless of the circumstances that are obvious to the rest of us.
Can you say double dip depression. Fortune 500 companies = 1/2 Trillion in addition cost. Fortune 100 = 3/4 of a trillion. That’s a lot a lay-offs.
I agree with the amount of future lay offs. It’s not like the administration and their lemmings will care because in their minds it translates into more government dependents and thus...their true intention of the healthcare law is successful.
Attention, to the 50% of the most stupid Americans voters, both legal and illegal :
AT&T is not facing additional tax expenses by whatever other name you choose to call them.
AT&T's customers are facing them.
Corporations never pay a cent in taxes.
Their customers do.
Just saying.
As long as the corporation has pricing power, yes, this is true.
and price increases paid mostly by ......
What I don't understand is why.
Even the inmates of an insane asylum might not bankrupt an entire country for one or two generations.
It's purposeless.
How can they hope to manage 150 million creative armed and angry producers and innovators?
There is no blood to squeeze out of the telecoms. If AT&T tries to raise prices Sprint, Verizon and others will do all it can to keep their prices low just to gain an advantage. Companies first and foremost attempt to slash labor costs when sudden unexpected costs/losses hammer them. Remember most of AT&T’s customers are locked into a contract for set prices.
And you and I will never truly understand why they think and act as they do. It’s not in our make-ups. It’s just like we will never understand the sociopathic minds of other individuals because we ourselves are not sociopathic.
In their minds it is never purposelessful. It is only in the rational intelligent mind (that wants freedom from oppressive and obstrusive government) that it does not serve a useful constructive purpose.
When you’re not born and raised as a patriotic American, one truly doesn’t understand the core of many many people in this country.
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