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Maxine on Health Care

Faster horses

Well-known member
Let me get this straight......
we're trying to pass a health care plan
written by a committee whose chairman says he doesn't understand it,
passed by a Congress that hasn't read it but exempts themselves from it,
to be signed by a president that also hasn't read it and who smokes,
with funding administered by a treasury chief who didn't pay his taxes,
all to be overseen by a surgeon general who is obese,
and financed by a country that's broke.

What the hell could possibly go wrong????
 

Tam

Well-known member
Faster horses said:
Let me get this straight......
we're trying to pass a health care plan
written by a committee whose chairman says he doesn't understand it,
passed by a Congress that hasn't read it but exempts themselves from it,
to be signed by a president that also hasn't read it and who smokes,
with funding administered by a treasury chief who didn't pay his taxes,
all to be overseen by a surgeon general who is obese,
and financed by a country that's broke.

What the hell could possibly go wrong????

Well using Obama's supported Biden words "This is a Big F---in Deal" that is going to come to light day by day.
I had to scream when Caterpiller announce this bill is going to cost them $100 million. Wasn't Obama telling the Cat employees that were laid off they would be hired back once his Stimulus bill was passed? Are they really going to be hired back when their employer just got hit by a $100 million tax bill from Obama's Health Care bill? Are their employees going to get to keep their health care insurance that Obama promised they would? Will their Insurance cost come down like Obama promised when Cat. has to pay $100 million more to cover them?

Can we all agree that Obama is a Big F---in liar NOW? :liar: :nod: :yeah: :x

Some are even questioning if Cat and John Deere that got hit with a $150 million will stay in the US or if they will out source more US jobs to avoid the Obamacare tax hike. :shock:
AT&T got a $1 billion hit so what is that going to do to their employees and customers? Oh yea this is a BIG F---in Deal Biden and I hope the States all get on board and file one Big F---in Lawsuit. :roll:
 
A

Anonymous

Guest
Tam said:
Faster horses said:
Let me get this straight......
we're trying to pass a health care plan
written by a committee whose chairman says he doesn't understand it,
passed by a Congress that hasn't read it but exempts themselves from it,
to be signed by a president that also hasn't read it and who smokes,
with funding administered by a treasury chief who didn't pay his taxes,
all to be overseen by a surgeon general who is obese,
and financed by a country that's broke.

What the hell could possibly go wrong????

Well using Obama's supported Biden words "This is a Big F---in Deal" that is going to come to light day by day.
I had to scream when Caterpiller announce this bill is going to cost them $100 million. Wasn't Obama telling the Cat employees that were laid off they would be hired back once his Stimulus bill was passed? Are they really going to be hired back when their employer just got hit by a $100 million tax bill from Obama's Health Care bill? Are their employees going to get to keep their health care insurance that Obama promised they would? Will their Insurance cost come down like Obama promised when Cat. has to pay $100 million more to cover them?

Can we all agree that Obama is a Big F---in liar NOW? :liar: :nod: :yeah: :x

Some are even questioning if Cat and John Deere that got hit with a $150 million will stay in the US or if they will out source more US jobs to avoid the Obamacare tax hike. :shock:
AT&T got a $1 billion hit so what is that going to do to their employees and customers? Oh yea this is a BIG F---in Deal Biden and I hope the States all get on board and file one Big F---in Lawsuit. :roll:

anyone else see where cat is being called in to testify about this charge off?
 

Cowpuncher

Well-known member
Reason for this is covered in today's Wall Street Journal. The companies have no choice - it is expected to total some $5.4 billion for the major companies.

It is a non-cash charge so it doesn't affect cash flow and the companies stock prices haven't been affected.
 

Tam

Well-known member
Cowpuncher said:
Reason for this is covered in today's Wall Street Journal. The companies have no choice - it is expeced to total some $5.4 billion for the major companies.

It is a non-cash charge so it doesn't affect cash flow and the companies stock prices haven't been affected.

:shock:

Dow Jones Newswires | Caterpillar Inc. said the health-care overhaul legislation being considered by the U.S. House of Representatives would increase the company's health-care costs by more than $100 million in the first year alone.

In a letter Thursday to House Speaker Nancy Pelosi (D-Calif.) and House Republican Leader John Boehner of Ohio, Caterpillar urged lawmakers to vote against the plan "because of the substantial cost burdens it would place on our shareholders, employees and retirees."

Caterpillar, the world's largest construction machinery manufacturer by sales, said it's particularly opposed to provisions in the bill that would expand Medicare taxes and mandate insurance coverage. The legislation would require nearly all companies to provide health insurance for their employees or face large fines.

The Peoria-based company said these provisions would increase its insurance costs by at least 20 percent, or more than $100 million, just in the first year of the health-care overhaul program.

"We can ill-afford cost increases that place us at a disadvantage versus our global competitors," said the letter signed by Gregory Folley, vice president and chief human resources officer of Caterpillar. "We are disappointed that efforts at reform have not addressed the cost concerns we've raised throughout the year."

Tell us again how this is not going to effect cash flow. If they have to pass the cost onto their customer what do you think that will do to their sales? And what will a disadvantage in a global market make in their stock prices?
 
A

Anonymous

Guest
Here is an excerpt from a article explaining why the companies are saying they will lose money. They cannot deduct the subsidy from thier taxes as they did before.

Under the 2003 Medicare prescription drug program, companies that provide prescription drug benefits for retirees have been able to receive subsidies covering 28 percent of eligible costs. But they could deduct the entire amount they spent on these drug benefits — including the subsidies — from their taxable income.

The new law allows companies to only deduct the 72 percent they spent.
 
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