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Thanks to ObamaCare, businesses are going to lose up to $14 billion due to taxes. According to Federal law, SEC rules, as well as other agencies, this "material? Fact, MUST be reported--the shareholders deserve to know that they lost billions in assets and value.
Instead of congratulating the firms for being honest, the Democrats and White House are in witch hunt mode instead. They want business to lie to government agencies and hide the $14 billion in losses.
"Democrats are going on the offensive against major companies who have announced they will take a financial hit from the passage of health-care reform, saying its a ploy to make President Obama look bad.
Commerce Secretary Gary Locke has condemned the moves as "irresponsible" and Rep. Henry Waxman (D-Calif.) has launched an investigation, summoning the CEOs of the companies to Capitol Hill on April 21."
Why? "In the last week, corporations like AT&T, Caterpillar, Deere & Co., and 3M have said they will collectively take write-downs into the billions of dollars because of a change in a federal subsidy that had helped the companies provide drug coverage for their retirees, keeping those seniors from joining the Medicare Part D benefit in droves.
(A write-down occurs when a company reports a reduction in the value of its assets compared with the value it trades for on the stock market.)"
Democrats want businesses to act in a criminal manner, due to their own corruption--judgeships for votes, as an example.
We need a complete voter revolt in November. Anything less and rules, regulations and the Constitution will merely be suggestions. It is up to you.
More...
Instead of congratulating the firms for being honest, the Democrats and White House are in witch hunt mode instead. They want business to lie to government agencies and hide the $14 billion in losses.
"Democrats are going on the offensive against major companies who have announced they will take a financial hit from the passage of health-care reform, saying its a ploy to make President Obama look bad.
Commerce Secretary Gary Locke has condemned the moves as "irresponsible" and Rep. Henry Waxman (D-Calif.) has launched an investigation, summoning the CEOs of the companies to Capitol Hill on April 21."
Why? "In the last week, corporations like AT&T, Caterpillar, Deere & Co., and 3M have said they will collectively take write-downs into the billions of dollars because of a change in a federal subsidy that had helped the companies provide drug coverage for their retirees, keeping those seniors from joining the Medicare Part D benefit in droves.
(A write-down occurs when a company reports a reduction in the value of its assets compared with the value it trades for on the stock market.)"
Democrats want businesses to act in a criminal manner, due to their own corruption--judgeships for votes, as an example.
We need a complete voter revolt in November. Anything less and rules, regulations and the Constitution will merely be suggestions. It is up to you.
More...