Friday, March 19, 2010

Caterpillar Inc. (NYSE:CAT): Health Bill Disaster

The outrageous and attempted, forced imposition of the socialist health care bill on Americans would be devastating according to Caterpillar Inc. (NYSE:CAT), which said it'll increase costs for the company by $100 million.

It's incredible to see the blind fury of Democrats and the obviously mentally disturbed Obama push this distructive outrage on Americans, who by a wide majority oppose the plan.

Even a letter from over 130 economists saying it would devastate the economy and job creation, as companies would hire far less workers while cutting back wages and working hours for those they already have didn't have any effect on these people.

Most of the $100 million in cost to Caterpillar will be in relationship to subsidies they will lose connected to prescription drugs for its retired people.

A provision to force employers to cover adult children up to the age of 26, plus the removal of the tax exemption on drug subsidies, combined will add another $100 million in just the first year of the so-called health reform. That's reform we can do without.

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