A War On Reality Posted 06:48 PM ET Politics: Rep. Henry Waxman vowed to haul CEOs into hearings after they revealed just how much ObamaCare will cost their firms. It's an absurd war on bookkeeping, from a Congress desperate to avoid heat for this fiasco. In the wake of President Obama's presidential signature on the gargantuan Patient Protection and Affordable Care Act last Thursday, big companies have crunched their numbers and come up with an ugly picture. In legally mandated filings, AT&T reported that ObamaCare will cost it $1 billion. Deere & Co. reported $150 million in new costs. Caterpillar must cough up $100 million. 3M must pay another $90 million. AK Steel gets to fork over $31 million. Valero Energy will pay $30 million. There'll be more as other companies report anticipated costs to fulfill their requirements to inform shareholders. What it shows is a huge wave of costs rolling over the private sector to pay for this bill. It's the real cost of ObamaCare, a bill House Speaker Nancy Pelosi had touted daily as "paid for" in her pitch for Congressional votes. http://www.investors.com/NewsAndAnalysis/Article.aspx?id=528764
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.
These Dems are unbelievable. At this point, even questioning their ridiculous policies, results in intimidation tactics and bullying.
Now Bugsy, you're not implying that the "Dems" are a social structure that has causative power, are you?
This is the way it starts. By the end of Obama's term, it wouldn't surprise me to see something like just happened in venezuela, where the head of a communications company was arrested because it had criticized Obama's role model, hugo Chavez.
Note to waxman Summon me. I'll be glad to tell you what I think. btw: Wasn't it all of you asshole dems who decided to cancel your townhall meetings because you didn't like the public questions and concerns about your healthcare crapola. Now you have the gall (deserving to be run out on a rail) to demand an inquiry on the repercussions you dumbasses so wisely created?
Why stop there? Make Beck and Limbaugh enemies of The State and yank the First Amendment! Then libtards would be free to manipulate the sheeple without any of their lies being challenged by anyone. What great world that would be!!!