That didnt take long....

[Cannon Shell]

http://www.businessweek.com/news/201...-update1-.html


AT&T previously received a tax-free benefit from the government to subsidize health-care costs for retirees, who would otherwise be on a Medicare Part D plan. Under the new bill, AT&T will no longer be able to deduct that subsidy.

“As a result of this legislation, including the additional tax burden, AT&T will be evaluating prospective changes to the active and retiree health-care benefits offered by the company,” the carrier said in the filing.

AT&T’s announcement was followed about an hour later by 3M, the St. Paul, Minnesota-based maker of products ranging from Post-It Notes to respiratory masks. 3M said it expects a one-time expense of $85 million to $90 million after tax, or about 12 cents a share, in the first quarter because of the new law, according to a statement. 3M had about 75,000 employees as of Feb. 5.

Michael Coe, a spokesman for the carrier, declined to comment. Peter Thonis, a spokesman for Verizon Communications Inc., which also employs more than 200,000 people, declined to comment.

New York-based Verizon, the second-largest U.S. phone company, told employees in a note after the law was signed that the tax will make the subsidy less valuable to employers like Verizon and so “may have significant implications for both retirees and employers.”


In other words employees and retirees at the countries biggest companies are going to pay the price for the current administrations zeal to punish businesses. What was that i heard about this bill not effecting the middle class?

[GenuineRisk]

Originally Posted by Cannon Shell

http://www.businessweek.com/news/201...-update1-.html


AT&T previously received a tax-free benefit from the government to subsidize health-care costs for retirees, who would otherwise be on a Medicare Part D plan. Under the new bill, AT&T will no longer be able to deduct that subsidy.

“As a result of this legislation, including the additional tax burden, AT&T will be evaluating prospective changes to the active and retiree health-care benefits offered by the company,” the carrier said in the filing.

AT&T’s announcement was followed about an hour later by 3M, the St. Paul, Minnesota-based maker of products ranging from Post-It Notes to respiratory masks. 3M said it expects a one-time expense of $85 million to $90 million after tax, or about 12 cents a share, in the first quarter because of the new law, according to a statement. 3M had about 75,000 employees as of Feb. 5.

Michael Coe, a spokesman for the carrier, declined to comment. Peter Thonis, a spokesman for Verizon Communications Inc., which also employs more than 200,000 people, declined to comment.

New York-based Verizon, the second-largest U.S. phone company, told employees in a note after the law was signed that the tax will make the subsidy less valuable to employers like Verizon and so “may have significant implications for both retirees and employers.”


In other words employees and retirees at the countries biggest companies are going to pay the price for the current administrations zeal to punish businesses. What was that i heard about this bill not effecting the middle class?

"Affecting," not "effecting."

Okay, so you're against gov't paying for health care, and now, that the gov't is removing a tax break (which means that gov't was in effect paying for AT&T's employees' health care) you're also against that? So you're against the gov't paying and you're against the company paying. Who do you think should pay? The retirees?

[Cannon Shell]

Originally Posted by GenuineRisk

"Affecting," not "effecting."

Okay, so you're against gov't paying for health care, and now, that the gov't is removing a tax break (which means that gov't was in effect paying for AT&T's employees' health care) you're also against that? So you're against the gov't paying and you're against the company paying. Who do you think should pay? The retirees?

Thanks for the spelling correction.

But try to follow along with the topic here. This was sold as a bill that was a win/win for everyone (except those pesky rich people making 200k or these CEO indulging corporations). It has taken less than a week for it to be a loss/loss for the employees and retirees of American business.

The idea that American corporations would simply "take" the higher taxes or removal of a tax incentive was ridiclous. The Dems knew this was coming down or they were simply burying their heads in the sand. This being American workers and retirees from our biggest and best companies getting lesser coverage, paying higher rates or being dumped into the govt pool.

Basically they lied to everyone. This IS going to cost the middle class more, you very well MAY have to change Doctors, and the govt programs ARE going to be overwhelmed and become further bloated leading to that supposedly new, streamlined, money saving system to be more of the same old, complicated, money buring entitlement program.

It isnt about what i think or believe or desire. This is simply about important issues surrounding this bill being exposed less than a week after its passage. You can close your eyes and pretend that it isnt funded by taking from the middle class and leaving them in many cases with worse coverage but that wont change the fact it is. Perhaps you are perfectly willing to take that hit. But most people wont and the fact that the Dems and Obama were so willing to cobble together any possible revenue sources to make their numbers palatable to pass this bill makes me think that there are going to be a whole lot more of the "surprises" coming in the future.

[Nascar1966]

Originally Posted by Cannon Shell

Thanks for the spelling correction.

But try to follow along with the topic here. This was sold as a bill that was a win/win for everyone (except those pesky rich people making 200k or these CEO indulging corporations). It has taken less than a week for it to be a loss/loss for the employees and retirees of American business.

The idea that American corporations would simply "take" the higher taxes or removal of a tax incentive was ridiclous. The Dems knew this was coming down or they were simply burying their heads in the sand. This being American workers and retirees from our biggest and best companies getting lesser coverage, paying higher rates or being dumped into the govt pool.

Basically they lied to everyone. This IS going to cost the middle class more, you very well MAY have to change Doctors, and the govt programs ARE going to be overwhelmed and become further bloated leading to that supposedly new, streamlined, money saving system to be more of the same old, complicated, money buring entitlement program.

It isnt about what i think or believe or desire. This is simply about important issues surrounding this bill being exposed less than a week after its passage. You can close your eyes and pretend that it isnt funded by taking from the middle class and leaving them in many cases with worse coverage but that wont change the fact it is. Perhaps you are perfectly willing to take that hit. But most people wont and the fact that the Dems and Obama were so willing to cobble together any possible revenue sources to make their numbers palatable to pass this bill makes me think that there are going to be a whole lot more of the "surprises" coming in the future.

Does you expect anything less from the conniving, misleading, lieing O'Dumbass and the rest of his Democratic cronies?

[GBBob]

Originally Posted by Nascar1966

Does you expect anything less from the conniving, misleading, lieing O'Dumbass and the rest of his Democratic cronies?

Four more years baby

Americans favor the new Health Care plan, the economy will continue to improve, stock market climbing..

You will need more shovels to dig your ignorant...albeit patriotic ass...a deeper bunker.

[Nascar1966]

Originally Posted by GBBob

Four more years baby

Americans favor the new Health Care plan, the economy will continue to improve, stock market climbing..

You will need more shovels to dig your ignorant...albeit patriotic ass...a deeper bunker.

Where is the money going to come for this so called health care? Oh thats right taxes will be raised. How is raising taxes going to improve the economy. Alot of Americans don't favor this health care bill. Obviously you don't read the newspaper or watch the news. Im sure your brain washed by O'Dumbass.

[Honu]

Originally Posted by GBBob

Four more years baby

Americans favor the new Health Care plan, the economy will continue to improve, stock market climbing..

You will need more shovels to dig your ignorant...albeit patriotic ass...a deeper bunker.

Dude I hope you are right , my step dad retired from AT&T and is in treatment for multiple myloma , the insurance he has with their plan covers just about all of his costs . Do you think the company will have enough money to keep on with the really good insurance ? Do you really think that if they cant keep providing him with the insurance for his treatments that the government will provide him the exact same benefits that this private company has ?

[2Hot4TV]

Originally Posted by GBBob

Four more years baby

Americans favor the new Health Care plan, the economy will continue to improve, stock market climbing..

You will need more shovels to dig your ignorant...albeit patriotic ass...a deeper bunker.

Not a chance. Obama is a one and done that will take years to clean up his mess.

Yes I do see big companies sending as much of their work force overseas as possible.

[Riot]

Originally Posted by Nascar1966

Does you expect anything less from the conniving, misleading, lieing Bush-Cheney administration, and the rest of their Republican cronies?

FTFY