Posted on 03/28/2010 12:49:40 AM PDT by SmartInsight
Rep. Henry Waxman, chairman of the House Committee on Energy and Commerce, has summoned some of the nation's top executives to Capitol Hill to defend their assessment that the new national health care reform law will cost their companies hundreds of millions of dollars in health insurance expenses. Waxman is also demanding that the executives give lawmakers internal company documents related to health care finances -- a move one committee Republicans describes as "an attempt to intimidate and silence opponents of the Democrats' flawed health care reform legislation."
In filings with the Securities and Exchange Commission, the companies -- so far, they include AT&T, Verizon, Caterpillar, Deere, Valero Energy, AK Steel and 3M -- say a tax provision in the new health care law will make it far more expensive to provide prescription drug coverage to their retired employees. In turn, employees of those companies are wondering whether the new law could mean reduced or canceled benefits for them in the future.
The news is an embarrassment for Democrats. As President Obama and congressional leaders tout the purported benefits of the new health care law, some of the nation's biggest companies are saying it will mean higher costs and fewer benefits -- not exactly what Democrats want to hear in the days after their historic victory.
(Excerpt) Read more at washingtonexaminer.com ...
If the Chairman of ATT took that stand, his government contract business would dry up in months. He has a legal and fiduciary responsibility to the shareholders to sustain and grow the business. The federal government may be his largest customer. He would be considered negligent to punch his largest customer in the face.
feculent - full of dregs or fecal matter; foul, turbid, or muddy
I learned a new word today.
"There you go again," as a great American used to say back when even dead voters preferred real Americans in our White House, you're pretending that the Constitution still means something to the thugs in DC who think they have all the power.
If Sarbanes still alive? Waxman should drag him up to Capitol Hill and demand that he recant! Recant! ;-)
Companies give donations to both sides because the govt is a giant shakedown/extortion artist. In many cases it’s simply a matter of survival or at least not getting to badly damaged by govt policy.
I seem to recall that after Medicaid or Medicare (I get them mixed up) was passed, LBJ told private insurance companies to stop accepting people because he wanted the program to work.
History does truly repeat itself.
Your papers please:demanding that the executives give lawmakers internal company documents related to health care finances,or we will take over your business.Oh gee I wonder what the dictatorship would do to the internet?.
We can just NOT stand for this kind of bullying people. Democrats thinking they are going to just dictate and run roughshod over America have got another thing coming!!!!!!!
They have chosen this path for a reason...
'Waxman is also demanding that the executives give lawmakers internal company documents related to health care finances'
I missed the Supreme Soviet announcing commissar Waxman's promotion.
(Must have been been on pMSNBC.)
The part that exposes Waxman is asking for emails above and beyond the numbers. Hes looking for conspiracy and not facts.
The numbers will probably prove out 100% correct but he will look to twist them,to taint them,with words. How many retires getting notice that they may be dumped into medicare will vote dem? This has to have them peeing their pants.
bttt
“The news is an embarrassment for Democrats.”
They don’t have enough character to be embarrassed.
... or not told like the provision to take $100.00 to $200.00 out of your monthly paycheck to pay for long term care that is voluntary but you have to opt out? (Heard on Fox News/Business channel yesterday).
CBO says? So, basically they didn’t talk to the leaders in industry to determine the impact and relied on a government funded agency.
You do realize they are threatening private business? Large companies they are, and maybe the bigwigs voted for Obama, but so what? It is thug behavior. FWIW, Note also Stupak is the ohter signer of the letter (and has an LARGE signature compared to Waxman- it is very beizarre).
You mean nose????
Dealing with Obama is like, hell, it IS dealing with the devil. Ask Stupak and everyone else who has trusted this *ssclown...TIME TO REVOLT!
Mine has been to beef up off shore operations and start closing American facilities. Expropriation in my own country!!!
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