Q&A: Caterpillar: Health Bill To Cost Company $100M — Is this just one of the many, MANY hidden costs of ØbamaCARE?

Question by Defender of America: Caterpillar: Health Bill To Cost Company 0M — Is this just one of the many, MANY hidden costs of ØbamaCARE?
“Caterpillar said this provision, along with eliminating the tax exemption on drug subsidies, would raise its health care costs by at least 20%, or more than $ 100 million, in the first year after the health-care overhaul program.”

Caterpillar: Health Bill Would Cost Company $ 100M
http://online.wsj.com/article/BT-CO-20100319-712530.html?mod=WSJ_latestheadlines

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Answer by Marko
My heart goes out to that multinational corporation

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11 Responses to “Q&A: Caterpillar: Health Bill To Cost Company $100M — Is this just one of the many, MANY hidden costs of ØbamaCARE?”

  1. Western European Mutt - WEM says:

    Cat will shutter operations in the US killing more American jobs. Thanks DEMS! It’s YOUR FAULT!

  2. neil s says:

    Fascism: government for the corporations. (Benito Mussolini)

    After 8 years of just that kind of government, it’s time the people were represented.

  3. big fella says:

    They cry alot also.

  4. ideogenetic says:

    In the health insurance speeches in the House today, conservatives didn’t mention a single American’s need for health insurance. All they have talked about is the profits of the corporations (including this story you bring up). It’s astonishing how disconnected they are from middle-class life in America.

    The interesting thing about your story is Caterpillar whining about their corporate welfare being cut.
    {The heavy-equipment maker’s concerns are focused on the potential loss of subsidies to prescription drug costs it covers for retired employees.}
    So, they WANT the taxpayer to keep paying their costs.

    Priceless!

    For what it’s worth; $ 100 million is 0.27% of Caterpillar’s market capitalization (11.1% of annual after-tax earnings).

    The market cap loss per share (@ 15 P/E) is $ 2.40

  5. Captain Refrigerant says:

    It will cost our nation dearly. You can count on Cat moving to Mexico. does anyone really think a for profit company will continue to do it’s manufacturing in a money loosing situation. No, they will move where the climate is more friendly to manufacturing. Just like so much of our manufacturing has done so far. You can count on yet one more of our nation’s icons getting flushed by Washington.

    A special note of recognition to Joe Donnelly (D), Indiana’s 2nd district…. for his part in destroying our nation.. His vote appears to be in the socialist pot. His seat will be taken over by the GOP.
    .

  6. Colton says:

    CAT trades at 15 times earnings. That $ 100M in expenses equates to $ 1.5Billion in lost market cap (ie. wealth). It’s essentially a tax to everyone that owns a mutual fund or a 401K with CAT stock in it. Just an example of the multiplier effect transferring wealth from those who produce in our society to those that do not.

  7. Ban says:

    Everything this Administration has done has been counter productive to our nation and the HC Bill is no exception. We have talked about this long and hard how it will effect jobs in our country. As a business owner I provide insurance for all our employees but Obama’s tax increase has forced us to cut back. Now when you add the tax hike on top of this HC bill, companies like my self simply want be able to afford to expand in the future. I can always close up shop and be okay but this would put at least 50 people out of work…people with families!

  8. Darth Eowyn says:

    LOL after Obama did that dog-and-pony show with them last year. Good for Caterpillar to say so now.

  9. Sky says:

    More lies and more lies.

    Don’t you have anything better to do than spread fear and misinformation?

  10. eric s says:

    yep… when Caterpillar begins massive layoffs, all the newly unemployed will be able to thank obama and his liberal dems for putting them out of work.

  11. Paul Grass™ says:

    Yes sir and I agree with the captian they will move to Mexico, GM and Chrysler moved plants there on bailout money by the way

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