The charge is the largest disclosed so far. Earlier this week, AK Steel Corp., Caterpillar Inc., . and Valero Energy announced similar accounting charges, saying the that President Barack Obama signed Tuesday will raise their expenses.
All four are smaller than AT&T, and their combined charges are less than a quarter of the $1 billion that AT&T is planning. The $1 billion is a third of AT&T's most recent quarterly profit. In the fourth quarter of 2009, the company earned $3 billion on revenue of $30.9 billion.
You are of course. So let me lay this scenario out for you.
You have a job and company provided health insurance. The company can't afford the benefits it provides. So how do you think they will recover those costs? It will raise prices on it's services that's how. You thought that the administration was telling you the truth that it wouldn't cost more for universal health care , you were wrong. Every insurance executive in America has said this will not bring about competition which is supposed to bring about lower more competitive prices. One of these executives was on NPR Wednesday morning, and he said it won't go up this year but everyone's premiums WILL go up in the years to come to counter balance the cost of bringing the uninsured in.So thank you Democrats. You single-handedly just jacked up 1/6th of our economy. I hope you all get rickets.What am I talking about? They don't pay for their health care WE THE TAXPAYERS DO, for life for most of them.What segment of the American population did health care reform not affect...the publicly elected jackasses that passed the changes. When will we ever learn?
AT&T also said Friday that it is looking into changing the health care benefits it offers because of the new law. Analysts say retirees could lose the prescription drug coverage provided by their former employers as a result of the overhaul.
So just like I said before, watch how quickly companies start dropping benefits because of costs. And where are those workers supposed to get prescription drug benefits if their company insurance doesn't provide them? We are supposed to be healthier now that WE ALL HAVE HEALTH INSURANCE. But when I can't afford my medicine, I'm pretty sure I won't be healthier. Who pays for that? Yeah, you do.
30 million people sounds like a lot doesn't it? It's 1 out of 10 Americans. Did you know that? We just gave away the farm for 1 out of 10 people to get free care, which they already received by just going to the hospital for their care, which the hospital had to right off because of non-payment.
We just got screwed. Pray the attorney's general will be able to get this blocked as unconstitutional.