Re: Tax REVENUES already declining from Obamacare
posted at 3/29/2010 10:19 AM EDT
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!
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.