Dems threaten companies complaining about Obamacare

Discussion in 'Politics' started by bugscoe, Mar 28, 2010.

  1. Congressional Dems threaten companies who complain about Obamacare costs
    March 28, 2010
    Rick Moran

    There's nothing new in Congressional Democrats hauling businesses before some committee or other to brow beat them and get face time on TV.

    So, it should come as no surprise that these jack booted thugs would order executives from companies that pointed out the massive increase in costs a particular provision in Obamacare would cause them to incur to testify before Congress.

    First, John Hinderaker at Powerline:

    • Caterpillar said Obamacare will cost it an additional $100 million in the first year; Medtronic warned that the new tax on its products "could force it to lay off a thousand workers;" Verizon told its employees that it "will likely have to cut healthcare benefits to offset the new costs;" and AT&T announced that it will record a $1 billion non-cash expense in the first quarter and "will be evaluating prospective changes to the active and retiree health care benefits offered by the company."

      These announcements are the tip of the iceberg; hundreds like them will follow as Obamacare becomes a reality. Congressional Democrats, evidently stung by the bad publicity, are trying to strike back.

    Then, the threats:

    • Meanwhile, Henry Waxman and House Democrats announced yesterday that they will haul these companies in for an April 21 hearing because their judgment "appears to conflict with independent analyses, which show that the new law will expand coverage and bring down costs."

      In other words, shoot the messenger. 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.

    Apparently, in this brave new world created by Obamacare, having an opinion about its benefits that is at odds with the ruling party is not good for the health of one's company.

    Waxman wants all internal communications connected to the analysis of how this provision will impact companies, including private emails. Andy McCarthy of NRO gets it right:

    • 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.
  2. Good thing the lame stream media is still drinking the flavor aid.
  3. What do you think these companies are going to say?
    These are just excuses for raising their rates for products and services. Nothing new in that. AT&T is usually the worst company in that regard.
  4. Ricter


    When you make an accusation to power, you're going to get beat up. The author reduces it to mere party v. party politics, but it is not so.

    See also: veggie libel laws.
  5. this is just fucking great.

    companies taking huge hits due to the healthcare bill, earnings go down and with the tax increases on dividends and capital gains, no one is gonna wanna touch the stock market. liquidity will rapidly sink below the shitty levels it is now, anyone who trades the markets for a living should be seriously appalled
  6. Ricter


    "I am an old man and have known a great many troubles, but most of them never happened."
    ~Mark Twain
  7. Then of course you have the same attitude towards global warming and re-introducing the Constitution to the imperial federal gubbermint.
  8. Big business has always catered to the Republican party. I was shocked to see them making these statements and I'm glad they are being told to back up what they're saying.

    If in fact AT&T is going to incur a $1B hit, that needs to come out.

    But my experience with AT&T is that they are corrupt. They were caught slamming tens of thousands of customers in my state when they did long distance. They scammed my cell phone many times charging up to $85 PER CALL.

    Fuck AT&T. I hope the CEO goes to prision for filing false SEC papers.
  9. Ricter


    He might go to jail. And after he's out he just might be named to head up the FCC.
  10. And so it begins. Question or disagree with the state and "education" begins. If the ministry of the truth says it's so, then it is so. Reality is no longer relevant. Orwell is somewhere with a I told you so look all over his face, and Stalin would be proud, very proud of the comrades on extended duty in the Americas.
    #10     Mar 28, 2010