Here is what happened:
Democrats calculated the impact of passing this bill and mapped out a strategy to hold their majorities in 2010.
Somebody forgot about Sarbannes-Oxley and the requirement for publicly traded companies to announce any significant impacts on future earnings or costs.
Democrats are caught flat-footed on this, and, as many have suggested, it is probably not the last ‘surprise’ that will come out of this healthcare fiasco.
If Sarbanes still alive? Waxman should drag him up to Capitol Hill and demand that he recant! Recant! ;-)
You ain't kiddin' this is not the last 'surprise'. I read NY city lost about 400 million in taxes when the bonuses were killed.That is just the start of lost revenue. If they kill the larger corporations to the point they are not making profit, it doesn't matter how high the tax rate goes, 50% of nothing is not going to pay for the outrageous welfare state they are creating. Like I tried to explain to my wife, a credit card is not a source of income.