Obama Care, WRITE DOWNS, Democrats shocked

Discussion in 'Healthcare/Insurance/Govt Healthcare' started by Maple, Mar 27, 2010.

  1. Maple
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    Maple Senior Member

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    Here is what happens when you don't read the bill before you vote on it. As they did in the 787 billion dollar stimulus bill. THEY DID NOT READ THIS ONE EITHER BEFORE THEY VOTED ON IT. :clap2::clap2::clap2::clap2::clap2:

    The ObamaCare Writedowns - WSJ.com

    It's been a banner week for Democrats: ObamaCare passed Congress in its final form on Thursday night, and the returns are already rolling in. Yesterday AT&T announced that it will be forced to make a $1 billion writedown due solely to the health bill, in what has become a wave of such corporate losses.

    This wholesale destruction of wealth and capital came with more than ample warning. Turning over every couch cushion to make their new entitlement look affordable under Beltway accounting rules, Democrats decided to raise taxes on companies that do the public service of offering prescription drug benefits to their retirees instead of dumping them into Medicare. We and others warned this would lead to AT&T-like results, but like so many other ObamaCare objections Democrats waved them off as self-serving or "political."
     
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    Last edited: Mar 27, 2010
  2. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    I read that earlier today.

    There will be more unintended consequences - including the loss of tax revenue as the stock prices of such companies fall.
     
  3. Maple
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    Maple Senior Member

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    Get ready for the new round of layoffs, and get ready to get a letter in the mail from the company that you work for that premiums are going UP and that you will lose more of your benefit package.
     
  4. Maple
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    Maple Senior Member

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    These idiots we have in the congress and senate are going to regret that vote so much that even now some in my state are attempting to distance themselves from it.

    We will not forget. This is just the first of the un-intended consequences, there will be many, many more.
     
  5. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Given the increase in Treasury rates in the recent auction, get ready for some stagflation as well.
     
  6. Maple
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    Maple Senior Member

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    From the article---

    On top of AT&T's $1 billion, the writedown wave so far includes Deere & Co., $150 million; Caterpillar, $100 million; AK Steel, $31 million; 3M, $90 million; and Valero Energy, up to $20 million. Verizon has also warned its employees about its new higher health-care costs, and there will be many more in the coming days and weeks.
     
  7. Maple
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    Maple Senior Member

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    Where's all the money this was supposed to save. Tell me it just isn't soooooooooooooo President Obama. LOLOLOLOLOLOLOLOLOLOLOLOLO
     
  8. Skull Pilot
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    Skull Pilot Platinum Member

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    I especially like this part

    In other words

    "Agree with Obama........or else"
     
  9. Maple
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    Maple Senior Member

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    Just wait until everyone who is still lucky enough to have a job, gets their little notice in the mail about increased premium costs.:lol::lol::lol: Hmmmmmmmmmm, do you think they will vote for a democrat again????----- maybe, when hell freezes over.:lol::lol::lol:
     
  10. Skull Pilot
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    Not to mention the additional costs when these companies cut the retirement drug benefits thus forcing more people into the medicare drug program.
     

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