03/30/2010 – Single Health Reform Provision Costs AT&T $1 Billion

THOUGHTS ON TODAY’S NEWS: Obama’s top priority is job creation, right?  Let’s look at how health reform will reduce unemployment.  One of the provisions used to reduce the cost of health reform was the reduction of tax deductions for companies with drug coverage for retired employees.  Oh, those evil corporations!!  Providing drug coverage for retired employees!!  AT&T released a quarterly accounting disclosure announcing that this provision would cost the company a billion dollars.  Caterpillar announced $100 million, Deere $150 million, 3M $90 million.  Now the Obama Administration is forcing them to appear before Congress because those statements are bad for Obama public relations.  Is that you, Hugo Chavez?  This is just one of 5 points that the National Association of Manufacturers (NAM) President stated would be bad for businesses, but we shouldn’t trust what he says, because he’s an evil Capitalist.  Besides, Castro said he loves it, so it must be good.

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Posted by Brett on Mar 30 2010. Filed under Breaking News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.