Correct.

Count on both happening.

For examples:
Just yesterday, Caterpillar and Deere and Company both reported increases of $100,000,000.00 million dollars in increased healthcare-related costs each.....and that is for just the remainder of this year - 2010!!!

In the months ahead as Capitalism continues crumbling, and unemployment rises - I predict that Obama and the 50.5% of Congress that voted government medicine in will proclaim that Capitalism doesn't work. I told you so here.

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You're not agreeing with me. I was being sarcastic.

Ooh a misplaced word, how silly of me.

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Question Authority before it Questions you.

Very sorry to hear that, is there anything we can do to change your mind?.

Well...a vote for Hussien was a vote for socialism..
http://www.youtube.com/watch?v=kGlJzTzemok

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It will be interesting to see the long term effect of this. If I am reading this right the reality is something like this.....

The Feds have been giving the companies a subsidy of 28% on the perscript drug bills they have. The companies were paying the other 72%.

But they were able to take a tax deduct of 100%, so they were taking a tax deduct on money they were receiving from the Feds. This is like taking a tax deduction on your net profit.

Now they will be able to still deduct 100%, but they are no longer getting the 28% of their cost from the Feds.

So.... The one time cost they are taking is not for this year, it is for many years into the future since they do not know when the costs they take this year will be used up.

In other words, they are going to take a tax deduction for costs they have not really experienced and pay a much smaller tax this year than they would have.

Hopefully people will understand that the $100,000,000 figure being tossed around is not money coming out of their pocket. It is a charge against future profits for expected losses that may or may not ever happen.

Big companies do this every chance they get. Why do you think an offshore drilling platform, which may take seven years to build and cost $500,000,000, is expensed before construction is started? To get the tax breaks now.

We (We being BIG oil) used to call it 'funny money', and has been going on for 40 years that I am aware of.

I don't need to click on your video link to know that you are full of it.

I think you're correct up to this point.

They'll still get the 28% subsidy, but will only be able to deduct the 72% they contribute. That's my take on it, seems resonable to me.

[/QUOTE]

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Question Authority before it Questions you.

Huh? You don't need to know what a person is saying to know it is incorrect? You're not a coffee drinker are you now...

No, I didn't say whether he was correct about anything. I said that I didn't need to click on his link. In fact, I never need to click on any YouTube links.

I know full well what he has written in the past, and can pretty well guess his view on about any topic. Same goes for you.

What's coffee to do with this?

From NRO.

The notion that the pain of Obamacare would not really be felt for a few years has always been silly. It won't be fully felt, but he economy is dynamic. Corporations have to plan today for the conditions of tomorrow. More to the point, public corporations with disclosure obligations under the securities laws have to disclose today when developments change their outlook for tomorrow. Hence, AT&T's announcement that Obamacare will force it to take a $1 billion dollar charge — the most alarming (but entirely predictable) bad news in a parade that, the Wall Street Journal's editors note, "includes Deere & Co., $150 million; Caterpillar, $100 million; AK Steel, $31 million; 3M, $90 million; and Valero Energy, up to $20 million."

But here is the most frightful news yet about our new reality: People's Commissar Henry Waxman is now planning to haul the companies before his committee because their disclosures fail to play along with the our Leftist rulers' script that Obamacare "will expand coverage and bring down costs."

As the Journal's editors observe:

Black-letter financial accounting rules require that corporations immediately restate their earnings to reflect the present value of their long-term health liabilities, including a higher tax burden. Should these companies have played chicken with the Securities and Exchange Commission to avoid this politically inconvenient reality? Democrats don't like what their bill is doing in the real world, so they now want to intimidate CEOs into keeping quiet.

Let me echo that. I worked for many years in the U.S. Attorney's Office in whose backyard was Wall Street. If a company like AT&T failed to make a legally mandated restatement of its financial position while continuing to participate in the capital markets, it would be investigated and the responsible management officials would likely find themselves prosecuted while the SEC, concurrently, went after the company and its officiallys in civil enforcement suits. There are prosecutors and investigators who would salivate at the prospect of doing such a career-making case.

If we are now under a system where disclosure gets you a public whipping and other threats by the Powers That Be while nondisclosure promises the ruinous expenses of defending against criminal investigations and civil enforcement, this is no longer anything but a thugocracy.

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Damned if you do, damned if you don't

http://www.businessweek.com/news/2010-03-27/at-t-deere-ceos-called-by-waxman-to-back-up-health-bill-costs.html

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I'm sick of .sig files

By Viola Gienger

March 27 (Bloomberg) -- Representative Henry Waxman called the chief executive officers of AT&T Inc., Verizon Communications Inc., Caterpillar Inc. and Deere & Co. to provide evidence to support costs the companies plan to book related to the new health-care law.

Waxman of California, chairman of the House Energy and Commerce Committee, and subcommittee Chairman Bart Stupak of Michigan released letters they wrote to the executives, saying their plans to record expenses against earnings as a result of the law contradict other estimates. The lawmakers requested the executives appear at hearing Stupak plans on April 21.

“The new law is designed to expand coverage and bring down costs, so your assertions are a matter of concern,” Waxman and Stupak, both Democrats, wrote in the letters yesterday. “They also appear to conflict with independent analyses.”

AT&T, the biggest U.S. phone company, is among employers that have announced plans to book costs related to the health- care law signed this week by President Barack Obama. The 10- year, $940-billion legislation is intended to cover 32 million uninsured Americans and provide benefits such as restricting premiums and ending the practice of denying coverage for pre- existing conditions.

Dallas-based AT&T said in a regulatory filing yesterday it would record $1 billion of costs, the most of any U.S. company so far.
AT&T previously received a tax-free benefit from the government to subsidize health-care costs for retirees. Under the new bill, AT&T will no longer be able to deduct that subsidy.

Tax Burden
“As a result of this legislation, including the additional tax burden, AT&T will be evaluating prospective changes to the active and retiree health-care benefits offered by the company,” the carrier said in the filing.
New York-based Verizon, the second-largest U.S. phone company, told employees in a note shortly after the law was signed that the tax will make a drug subsidy less valuable to employers like Verizon and so “may have significant implications for both retirees and employers.”
Moline, Illinois-based Deere, the world’s largest maker of farm machinery, said on March 25 that the new health-care law would increase its expenses by $150 million this fiscal year.

Peoria, Illinois-based Caterpillar, the world’s largest maker of bulldozers and excavators, expects to record a charge of about $100 million in the first quarter of 2010, reflecting new tax liabilities on retiree drug benefits.

No Charge at GE
General Electric Co., the world’s biggest maker of jet engines, power-plant turbines and locomotives, said today it doesn’t anticipate taking a charge tied to the health-care law.

GE, of Fairfield, Connecticut, doesn’t see any “material effect” from the law, spokeswoman Anne Eisele said today.

Waxman and Stupak said the Congressional Budget Office had reported that average premium costs per person would decrease as much as 3 percent by 2016 for companies insuring more than 50 employees. They also cited what they said was a November estimate by the Business Roundtable, an association of chief executive officers, of reduced health-insurance cost trends.

The lawmakers asked the companies to provide documents to the committee supporting their planned charges by April 9.

--With assistance from Amy Thomson and Will Daley in New York, Rachel Layne and Edmond Lococo in Boston and Ian King in San Francisco. Editors: Ann Hughey, Mark Rohner

To contact the reporter on this story: Viola Gienger in Washington at vgienger@bloomberg.net.
To contact the editor responsible for this story: James Kirk in Washington'


^^^ Hard to believe, but now the camel is under the entire tent......

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After the vote, Al Sharpton makes the statement that "Americans overwhelmingly voted for socialism when they elected President Obama." as well as the statement "This began the transformation of the country that the President promised when he was elected"

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Great point!! Why do we have to get insurance through employers?? If it were based on individual people making the purchases themselves costs would go way down. We buy every other kind of insurance ourselves.... why not health insurance?

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Current:
2014 VW Tiguan SEL 4Motion 43,000 miles.

2016 Hyundai Santa Fe Sport (wife's).

Past:
2006 Jetta TDI 135,970 miles. Sold Nov. '13.
1995 E-320 Special Edition. 220,200 miles. Sold Sept. '07.
1987 190-E 16 valve. 153,000 miles. Sold Feb. '06.
1980 300-D 225,000 miles. Donated to the National Kidney Foundation.
1980 240-D manual, 297,500 miles. Totaled by inattentive driver.