Posted on 04/02/2010 9:42:15 AM PDT by Nachum
It didn't take long for businesses — especially in Illinois — to start feeling ObamaCare's job-killing punch. While most of the punishing mandates and taxes don't start immediately, public accounting rules operate on a more timely basis. Some businesses have disclosed that their value will be negatively impacted by the new health reform law.
In the last week, four major Illinois-based companies — Boeing, Caterpillar, Deere & Co. and Illinois Tool Works — have announced they will take charges of $150 million, $100 million, $150 million and $22 million, respectively, because of one provision in the new law.
In order to pay for the plan's estimated $924 billion cost, the tax deduction for companies providing their retirees with drug benefits has been reduced. The White House said this change closed a tax "loophole" created to encourage companies to provide their retirees with drug benefits rather than moving them into Medicare's prescription drug program.
(Excerpt) Read more at articles.chicagotribune.com ...
This is from the Chi-town LIBune?
Careful Grace-Marie, you might get called to DC and be forced to stare into the gaping caverns of Nostrildamus’ nose!
Traitorous companies. They shall be demonized. Hauled before Congress. Then nationalized.
After they are nationalized, their competitors will begin to experience consumer complaints and unexplained product failures.
Chicago Tribune? Telling the truth? I'm speechless.....
Picked up by the Tribune??? This is good news indeed.
Just thinkin’ about Obamacare is creepin’ out America.
The White House said this change closed a tax “loophole” created to encourage companies to provide their retirees with drug benefits rather than moving them into Medicare’s prescription drug program.
If that isn’t proof that Obama”s a socialist idiot nothing will.
I think I’ll start a scrapbook of repentant journalist’s columns.
In order to accommodate trial lawyers, unions, health insurers, pharmaceutical makers, and other fat cats, Democrats were forced to construct the proverbial, over-engineered Rube Goldberg contraption. While a Rube Goldberg Machine looks functional on paper, in reality, one broken pin or snapped cable could cause the whole unwieldy assembly to disintegrate under its own weight.
Hope you have a giant scrapbook.
I can see Obama standing on a pedestal overlooking the country amidst the rubble left behind from his grand plan of economic destruction, saying, “You NEED me (the gov’t) NOW, don’t you..” Any cartoonists out there?
I can see Obama standing on a pedestal overlooking the country amidst the rubble left
Nero fiddling while Rome burns comes to mind.
“These retirees will join Medicare Advantage policyholders “
When was Medicare Advantage supposed to end?
Was it? All I know is they took 200 billion from it. They seem like they want to starve it to death.
This is the issue that Henry Waxman is trying to haul companies in front of congressional committees over.
IF the law says they must make such disclosures, and the write offs are legal, then this is another case of the Demirats not knowing what they were doing.
Pelosi: “We will tell you what is in the bill after we pass it”.....
American companies: “We will take every tax writeoff we can, and then we will be laying off thousands of workers.”
I personally would like to see major companies take out an ad in USA Today, telling the public why this will cost jobs and future stock earnings all across the spectrum.
I would also be very tempted to print invoices or stickers to put on invoices which have a separate line item for the “Health Care Surcharge”-—something like freight charges which carry high fuel costs surcharges.
Comsumers need to understand there is no FREE LUNCH !!!!!
unexplained product failures.”
What agency of the Federal Government was responsible for letting all that bad drywall into the USA???
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