Let’s see, Obama Care is going to save everybody boat loads of money. Well, maybe not everybody …
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Does ObamaCare’s price tag include corporate writedowns?We’re told this medical miracle will cost us $938 billion over 10 years.
I doubt that sum includes the toll taken this week.
AT&T said it will take a $1 billion charge related to ObamaCare.
Earlier this week, Caterpillar drew first blood (its own), taking a $100 million writedown. The heavy-metal giant provides generous drug benefits to retirees, enticed by tax-free subsidies from the feds; that program now will be taxed.
Cat’s competitor, John Deere says it will take a $150 million hit.
[On Saturday, 3M announced an $80 to $90 million charge.]
Betchya other big companies take hits, too.
That hurts their shareholders (including pension funds for workers that ObamaCare seeks to help).
And, it may prompt companies to cut back on drug benefits for retirees, all due to a new law with the opposite aim.
Excerpted from CNBC: 7 Prickly Questions for ObamaCare, 26 Mar 2010:
http://www.cnbc.com/id/36055365
