Tax REVENUES already declining from Obamacare

  1. You have chosen to ignore posts from Hansoribrother. Show Hansoribrother's posts

    Tax REVENUES already declining from Obamacare

    AT+T has already written off $1 billion in healthcare costs because of Obamacare and the treatment of Medicare.

    At the average tax rate of 25.2% for corporations that is $250 million in revenue lost to the US Treasury in just a few days. Of course they are not the only ones that will do this.

    Obamacare and Obama - job killing machines.

    http://online.wsj.com/article/SB10001424052748704100604575146002445136066.html
     
  2. You have chosen to ignore posts from Bill-806. Show Bill-806's posts

    Re: Tax REVENUES already declining from Obamacare

    In Response to Tax REVENUES already declining from Obamacare:
    AT+T has already written off $1 billion in healthcare costs because of Obamacare and the treatment of Medicare. At the average tax rate of 25.2% for corporations that is $250 million in revenue lost to the US Treasury in just a few days. Of course they are not the only ones that will do this. Obamacare and Obama - job killing machines. http://online.wsj.com/article/SB10001424052748704100604575146002445136066.html
    Posted by Hansoribrother
    WELL, DID ANYONE THINK DIFFERENT ???  THIS IS NOT ABOUT HEALTH CARE, AS IT IS ABOUT "TRANSFORMING " AMERICA INTO A REDISTRIBUTED 3RD WORLD WELFARE STATE !!!!!!
     
  3. You have chosen to ignore posts from hawkeye01. Show hawkeye01's posts

    Re: Tax REVENUES already declining from Obamacare

    LOL....perfect avatar! Absolutely PERFECT!!!
     
  4. You have chosen to ignore posts from 12angrymen. Show 12angrymen's posts

    Re: Tax REVENUES already declining from Obamacare

    HaaaaaaaaaaaaaaHaaaaaaaaaaaaaa

    You're all just so ignorant of what the write down actually means it's hilarious!
    And 'horses-behind', that avatar is perfect for you because you're about as smart as your avatar.

    It's great when people are so ignorant, and prove it repeatedly.
    The write down will increase gov't revenues by 4.5 billion.
    But you morons aren't interested in facts.
    Suffice to say, you're much happier in your own world.
     
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  6. You have chosen to ignore posts from 12angrymen. Show 12angrymen's posts

    Re: Tax REVENUES already declining from Obamacare

    In Response to Re: Tax REVENUES already declining from Obamacare:

    "The write down will increase gov't revenues by 4.5 billion" How does that happen?
    Posted by Newtster


    Among its many changes, the new health care law eliminated a tax deduction that companies used to cut the cost of drug-benefit programs for retired workers. President Barack Obama signed the massive health care overhaul into law earlier this week in a big victory for ruling Democrats.
    Under the old law, companies received a federal subsidy worth up $1,330 per retiree if they provided former workers with drug-care benefits. But at the same time, companies could deduct the value of the subsidy from their taxable income.
    The government merely eliminated a tax loophole that effectively allowed a company to benefit twice from one law.

    The original provision allowing companies to deduct the federal subsidies from their taxable income was a "loophole" that will be closed by the health care overhaul.
    For the government, the tax changes are expected to raise roughly $4.5 billion over the next decade to help pay for the health overhaul.


    Read more: http://www.charlotteobserver.com/2010/03/25/1336559/companies-say-health-care-costs.html?storylink=kibboko#ixzz0jP2ZCRAF


     
  7. You have chosen to ignore posts from 12angrymen. Show 12angrymen's posts

    Re: Tax REVENUES already declining from Obamacare

    In Response to Tax REVENUES already declining from Obamacare:
    AT+T has already written off $1 billion in healthcare costs because of Obamacare and the treatment of Medicare. At the average tax rate of 25.2% for corporations that is $250 million in revenue lost to the US Treasury in just a few days. Of course they are not the only ones that will do this. Obamacare and Obama - job killing machines. http://online.wsj.com/article/SB10001424052748704100604575146002445136066.html
    Posted by Hansoribrother


    Gotta appreciate your ignorance on this.
    First, just in your post you contradict yourself. If AT&T had "written off $1 billion in healthcare costs" that means they would have a net profit. Writing of a cost increases your revenue. Just shows how much you understand what you're spouting about. Priceless.
    Second, If you even bother to read the articles beyond just looking at the pictures you would have seen this: "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." Which would have told you that what they're writing off is a tax loophole not income.

    So ya your avatar is apropos.
     
  8. You have chosen to ignore posts from Hansoribrother. Show Hansoribrother's posts

    Re: Tax REVENUES already declining from Obamacare

    In Response to Re: Tax REVENUES already declining from Obamacare:
    In Response to Tax REVENUES already declining from Obamacare : Gotta appreciate your ignorance on this. First, just in your post you contradict yourself. If AT&T had "written off $1 billion in healthcare costs " that means they would have a net profit. Writing of a cost increases your revenue. Just shows how much you understand what you're spouting about. Priceless. Second, If you even bother to read the articles beyond just looking at the pictures you would have seen this: "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." Which would have told you that what they're writing off is a tax loophole not income. So ya your avatar is apropos.
    Posted by 12angrymen


    If you are writing off something, it is a cost against your profit on which you owe a tax. For AT+T they are increasing their write-off by the amount that their tax was reduced. It was not a "subsidy".  You are an excellent Obama buttlicker as you maintain the re-instatement of an old tax is closing a loophole. 

    Now why did the government give AT+T a tax credit? They gave AT+T a tax credit because they wanted  AT+T and other companies that got the credit to pay for their retirees pharmaceutical benefits rather than having them go to Medicare's plan. It was cheaper for the government grant the tax credit rather than have the retirees sign up for Medicare pharma. I suppose you are going to think that the pharma plan was Bush's fault. Yeah it was. It never should have been created. But what you are probably thinking is that it was underfunded - which only makes your argument more ridiculous.

    So you can interpret my avatar however you like but it is liberal social programs that do not work that are pushed on us by horses beehinds. Thanks to selfish liberal morons our government has committed us to spend more money on Social Security, Medicare and Medicaid than we could ever pay no matter how much we are taxed. It won't work and never has. And the ulitmate sin by Obama is that he is doing nothing to control the cost of healthcare services.

    Obama and liberal Democrats - American job killing machines.
     
  9. You have chosen to ignore posts from kelldog1. Show kelldog1's posts

    Re: Tax REVENUES already declining from Obamacare



     Yeah well when you're mired in the great quasi- depression II, triggered by the past "Republican leadership" and policies they've enacted over the past eight years what do you expect..............they fcking blew up the economy....of course tax revenues are gonna fall precipitously. What Don't you understand? Republicans are responsible for this mess! Conservatives FAILED!!! Take responsibility!
     
  10. You have chosen to ignore posts from 12angrymen. Show 12angrymen's posts

    Re: Tax REVENUES already declining from Obamacare

    In Response to Re: Tax REVENUES already declining from Obamacare:
    In Response to Re: Tax REVENUES already declining from Obamacare : If you are writing off something, it is a cost against your profit on which you owe a tax. For AT+T they are increasing their write-off by the amount that their tax was reduced. It was not a "subsidy".  You are an excellent Obama buttlicker as you maintain the re-instatement of an old tax is closing a loophole.  Now why did the government give AT+T a tax credit? They gave AT+T a tax credit because they wanted  AT+T and other companies that got the credit to pay for their retirees pharmaceutical benefits rather than having them go to Medicare's plan. It was cheaper for the government grant the tax credit rather than have the retirees sign up for Medicare pharma. I suppose you are going to think that the pharma plan was Bush's fault. Yeah it was. It never should have been created. But what you are probably thinking is that it was underfunded - which only makes your argument more ridiculous. So you can interpret my avatar however you like but it is liberal social programs that do not work that are pushed on us by horses beehinds. Thanks to selfish liberal morons our government has committed us to spend more money on Social Security, Medicare and Medicaid than we could ever pay no matter how much we are taxed. It won't work and never has. And the ulitmate sin by Obama is that he is doing nothing to control the cost of healthcare services. Obama and liberal Democrats - American job killing machines.
    Posted by Hansoribrother


    Man you're so ignorant of the facts it's ridiculous.
    Honestly, I think you're just too stupid to understand basic economics.
    It's not cheaper for the gov't to pay 200% of the cost for drug benefits.
    You're just ignorant of the facts.
    Keep on with your avatar, it's apropos
     
  11. You have chosen to ignore posts from 12angrymen. Show 12angrymen's posts

    Re: Tax REVENUES already declining from Obamacare

    If you are writing off something, it is a cost against your profit on which you owe a tax.
    ----------------------------------------------------------------------
    Hey idiot, ask anybody who owns a business, as I do, the question, how would you like to wright off, "$1 billion in healthcare costs".
     You're an ignorant fool.
     
  12. You have chosen to ignore posts from 12angrymen. Show 12angrymen's posts

    Re: Tax REVENUES already declining from Obamacare

    If you are writing off something, it is a cost against your profit on which you owe a tax
    -----------------------------------------------------------------------
    Ok right there it shows you don't have a clue about finance, not to mention real life.
    If you get to write off something it's a way for companies to pay less taxes.
    Write offs are done before figuring gross profits, idiot.
    The more write offs you have, even if they benefit your company, the less taxes you pay. You really are clueless about business in general and life in particular. 
     
  13. You have chosen to ignore posts from 12angrymen. Show 12angrymen's posts

    Re: Tax REVENUES already declining from Obamacare

     I suppose you are going to think that the pharma plan was Bush's fault. Yeah it was. It never should have been created. But what you are probably thinking is that it was underfunded - which only makes your argument more ridiculous.
    ----------------------------------------------------------------------------------
    This is THE most ignorant statement of your post.
    Just to save us some time, explain to me EXACTLY how the pharma plan was funded. Did it save the gov't money or cost the gov't money? 
     
  14. You have chosen to ignore posts from 12angrymen. Show 12angrymen's posts

    Re: Tax REVENUES already declining from Obamacare

    So you can interpret my avatar however you like but it is liberal social programs that do not work that are pushed on us by horses beehinds. Thanks to selfish liberal morons our government has committed us to spend more money on Social Security, Medicare and Medicaid than we could ever pay no matter how much we are taxed. It won't work and never has. And the ulitmate sin by Obama is that he is doing nothing to control the cost of healthcare services.
    ----------------------------------------------------------------------------------------
    Let's take these one at a time.
    You chose the avatar that you thought would represent you, I had nothing to do with it. But I suppose in your wingnut fantasy world I made you choose that avatar. Oh well. Sorry I guess it seemed appropriate at the time.
    So the 'liberal' program passed by the wingnuts, unfunded prescription medicines, was 'pushed' on you by who exactly?
    Why is it that during the health care debate WINGNUTS kept saying that healthacare reform will reduce benefits to Medicare recipients?
    Why is it that despite having majorities in both houses of Congress and the presidency, you wingnuts never introduced one piece of legislation to revamp or even limit any 'entitlement' program?
    You're such on a high horse but nobody, of either party, has done anything to change the staus quo. So shut the F up and stop being so partisan and work towards solutions not divisions.
     
  15. You have chosen to ignore posts from Hansoribrother. Show Hansoribrother's posts

    Re: Tax REVENUES already declining from Obamacare

    well 12ANGRYmen is certainly appropriate for your avatar.

    Resulting to insults is typical for someone losing an argument. Not that I would ever accuse someone so intelligent as you of losing an argument. Truth be told on my avatar - I made a mistake submitting this post. I tried to delete it but that is something that seems impossible to do with this software. So it is a bit inconsistent.

    All that aside, your question about why haven't we (your interpretation) submitted any legislation to revamp or limit any entitlement is ridiculous. I am shocked that someone of your supposed intelligence forgot that Bush 43 foolishly expended considerable effort to revamp Social Security at the start of his second term. His suggestion to introduce privatization in some portion was greeted with scare tactics among Democrats saying that  we can't trust individuals to manage their money in the stock market. Of course what do most public employee unions do with their retirement funds? They are the biggest clients of HEDGE FUNDS. And what happens to the money that the rest of us get withheld from our paychecks? IT GETS STOLEN AND SPENT BY CONGRESS. So maybe someone as smart as you could tell me why Social Security is considered "safer" that the "risky" stock market?

    And you also forgot the Pharma Plan that Bush added to Mediscare. A disaster of course but it is still disproof of your idiotic suggestion that Republicans haven't done anything to revamp untitlements.

    Like I said MR. Deaf I am not an accountant. In the end, does not writing off $ 1 billion against revenues reduce your profit by the same amount? Maybe not, but all I know is that when I write off an expense, my tax liability goes down.

    And maybe you can tell me how the US Governemtn is EVER going to be able to live up to it's commitments for Social Security, Medicare and Medicaid and the Obama's disasterous Healthcare Plan?? 

    And when Europe starts to crumble to pay for their intercourse with socialism maybe you will get the picture. Of course the disintegration of the Soviet Union apparently passed by a smart person like you too.
     
  16. You have chosen to ignore posts from 12angrymen. Show 12angrymen's posts

    Re: Tax REVENUES already declining from Obamacare

    So maybe someone as smart as you could tell me why Social Security is considered "safer" that the "risky" stock market?
    --------------------------------------------------------------------------------
    You only have to look at the 2007-09 stock reports to see that on average stocks lost 40% of their value, effectively wiping out 30 yrs of investment.

    The entire 00-09 decade, stocks were down .5%. So how is that better than the gurauntee of Social Security?

    'Investors would have been better off investing in pretty much anything else, from bonds to gold or even just stuffing money under a mattress. Since the end of 1999, stocks traded on the New York Stock Exchange have lost an average of 0.5% a year thanks to the twin bear markets this decade. "

    http://online.wsj.com/article/SB10001424052748704786204574607993448916718.html
     
  17. You have chosen to ignore posts from 12angrymen. Show 12angrymen's posts

    Re: Tax REVENUES already declining from Obamacare

     I am shocked that someone of your supposed intelligence forgot that Bush 43 foolishly expended considerable effort to revamp Social Security at the start of his second term.
    --------------------------------------------------------------------------------------
    Funny Bush had a party majority for the first 7 years of his presidency and he couldn't pass SS reform. Seems even his own party didn't want it.
     
  18. You have chosen to ignore posts from 12angrymen. Show 12angrymen's posts

    Re: Tax REVENUES already declining from Obamacare

    And you also forgot the Pharma Plan that Bush added to Mediscare. A disaster of course but it is still disproof of your idiotic suggestion that Republicans haven't done anything to revamp untitlements.
    --------------------------------------------------------------------------

    Your suggesting that the wingnuts passing an unfunded Medicare drug benefit is revamping? Adding to the problem maybe, but it's definitely not revamping.
     
  19. You have chosen to ignore posts from carolbost. Show carolbost's posts

    Re: Tax REVENUES already declining from Obamacare

    In Response to Re: Tax REVENUES already declining from Obamacare:
    In Response to Tax REVENUES already declining from Obamacare : WELL, DID ANYONE THINK DIFFERENT ???  THIS IS NOT ABOUT HEALTH CARE, AS IT IS ABOUT "TRANSFORMING " AMERICA INTO A REDISTRIBUTED 3RD WORLD WELFARE STATE !!!!!!
    Posted by Bill-806

     
  20. You have chosen to ignore posts from carolbost. Show carolbost's posts

    Re: Tax REVENUES already declining from Obamacare

    Third world welfare state?Oh you meant palin Alaska?palin and her family FYI gets government socialized medicines after documents were disclosed!This quitter of aloony,lambasting and rejecting HC when in fact she and her family are getting free ride a long time ago!hello?Alaska is one of the biggest welfare state in the union!This is palin's third world!Getting free reide payed by you and me and denying the rest!palin is just an empty headed fool,aside from a violent one,in word and speech!So what happened to all these republican ideas that the dems wouldn't listen to?Well,quite a lot of them are now LAW!!!Imagine rep's ideas being rejected until the end by these republicans!!How crazy and lunatic fringe right wing you'd be!!!Who is loony here America or these rep.pundits or tea drinking poison!By the way Fyi America is a drinking coffee nation!!!!Threatening fellow Americans is now their recipe and violent behavior in the highest form of criminality like palin's facebook ad,reload,gunning down and worst crosshairs!!I just hope that Palin reload her gun directly to herself!Case solved forever,one borderline patient lesser!
    We support our president Obama from all of us loving and hard working Americans here in Europe.
     
  21. You have chosen to ignore posts from carolbost. Show carolbost's posts

    Re: Tax REVENUES already declining from Obamacare

    In Response to Re: Tax REVENUES already declining from Obamacare:
    If you are writing off something, it is a cost against your profit on which you owe a tax. ---------------------------------------------------------------------- Hey idiot, ask anybody who owns a business, as I do, the question, how would you like to wright off, "$1 billion in healthcare costs".  You're an ignorant fool.
    Posted by 12angrymen

     
  22. You have chosen to ignore posts from skeeter20. Show skeeter20's posts

    Re: Tax REVENUES already declining from Obamacare

    In Response to Re: Tax REVENUES already declining from Obamacare:
    In Response to Re: Tax REVENUES already declining from Obamacare : Among its many changes, the new health care law eliminated a tax deduction that companies used to cut the cost of drug-benefit programs for retired workers. President Barack Obama signed the massive health care overhaul into law earlier this week in a big victory for ruling Democrats. Under the old law, companies received a federal subsidy worth up $1,330 per retiree if they provided former workers with drug-care benefits. But at the same time, companies could deduct the value of the subsidy from their taxable income. The government merely eliminated a tax loophole that effectively allowed a company to benefit twice from one law. The original provision allowing companies to deduct the federal subsidies from their taxable income was a "loophole" that will be closed by the health care overhaul. For the government, the tax changes are expected to raise roughly $4.5 billion over the next decade to help pay for the health overhaul. Read more: http://www.charlotteobserver.com/2010/03/25/1336559/companies-say-health-care-costs.html?storylink=kibboko#ixzz0jP2ZCRAF
    Posted by 12angrymen


    It is that "expected to raise" part that is laughable.
     
  23. You have chosen to ignore posts from skeeter20. Show skeeter20's posts

    Re: Tax REVENUES already declining from Obamacare

    In Response to Re: Tax REVENUES already declining from Obamacare:
     Yeah well when you're mired in the great quasi- depression II, triggered by the past "Republican leadership" and policies they've enacted over the past eight years what do you expect..............they fcking blew up the economy....of course tax revenues are gonna fall precipitously. What Don't you understand? Republicans are responsible for this mess! Conservatives FAILED!!! Take responsibility!
    Posted by kelldog1


    Conservatvies didn't fail, conservatism has never beein tried.  the Republicans failed becasue the behaved like Liberals, spent like liberals, supported cause like liberals.

    So, you asre half right.  Relative tothe economy, Bush failed terribly, but it was becasue he followed liberal fiscal policy.

     
  24. You have chosen to ignore posts from Bill-806. Show Bill-806's posts

    Re: Tax REVENUES already declining from Obamacare

    In Response to Re: Tax REVENUES already declining from Obamacare:
    Third world welfare state?Oh you meant palin Alaska?palin and her family FYI gets government socialized medicines after documents were disclosed!This quitter of aloony,lambasting and rejecting HC when in fact she and her family are getting free ride a long time ago!hello?Alaska is one of the biggest welfare state in the union!This is palin's third world!Getting free reide payed by you and me and denying the rest!palin is just an empty headed fool,aside from a violent one,in word and speech!So what happened to all these republican ideas that the dems wouldn't listen to?Well,quite a lot of them are now LAW!!!Imagine rep's ideas being rejected until the end by these republicans!!How crazy and lunatic fringe right wing you'd be!!!Who is loony here America or these rep.pundits or tea drinking poison!By the way Fyi America is a drinking coffee nation!!!!Threatening fellow Americans is now their recipe and violent behavior in the highest form of criminality like palin's facebook ad,reload,gunning down and worst crosshairs!!I just hope that Palin reload her gun directly to herself!Case solved forever,one borderline patient lesser! We support our president Obama from all of us loving and hard working Americans here in Europe.
    Posted by carolbost
       HERE IN EUROPE ?????????  OK, ENJOY THE WINE !!!
     
  25. You have chosen to ignore posts from sk8ter2008. Show sk8ter2008's posts

    Re: Tax REVENUES already declining from Obamacare

    In Response to Re: Tax REVENUES already declining from Obamacare:
    HaaaaaaaaaaaaaaHaaaaaaaaaaaaaa You're all just so ignorant of what the write down actually means it's hilarious! And 'horses-behind', that avatar is perfect for you because you're about as smart as your avatar. It's great when people are so ignorant, and prove it repeatedly. The write down will increase gov't revenues by 4.5 billion. But you morons aren't interested in facts. Suffice to say, you're much happier in your own world.
    Posted by 12angrymen


    You are correct it will increase government revenues since they are forcing companies to pay more or not be able to get the usual medicare Part d subsidies.

    But, as a result, 3M, ATT, John Deere Catapillar, Verizon etc are all announcing additional lay offs directly attributed to the heathcare bill passage!

    Caterpillar reacts:

    On March 23, industrial equipment manufacturer Caterpillar(CAT) said that its first-quarter earnings will be hit with a $100 million after-tax charge under tax law changes attached to the new health care reform legislation. Caterpillar complained that as a result of the new legislation, beginning in 2011, the tax deduction available to Caterpillar will be reduced to the extent its drug expenses are reimbursed under the Medicare Part D retiree drug subsidy program.

    Early last year, President Obama paid a visit to a Caterpillar plant in Illinois shortly after the company laid off tens of thousands of employees. During the press briefing, Obama said that he believed his economic stimulus proposals would enable companies like Caterpillar to rehire staff. But the company's CEO, James Owens, told reporters after the press conference that he believed there would be more layoffs before rehiring became a possibility -- undermining Obama's message.

     
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