AT&T will take $1B non-cash charge for health care
Cuts in employee and retiree benefits? Reduced health care availability? Elimination of prescription drug coverage? Increased expenses?
REALLY? Wow! Certainly, no one saw that coming?!?!?!
Let the ramifications of health care reform begin!
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AT&T will take $1B non-cash charge for health care
http://finance.yahoo.com/news/ATT-will-take-1B-nonca ... »
REALLY? Wow! Certainly, no one saw that coming?!?!?!
Let the ramifications of health care reform begin!
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AT&T will take $1B non-cash charge for health care
http://finance.yahoo.com/news/ATT-will-take-1B-nonca ... »
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Ok, so let me get this straight. at&t will be spending more because they are getting less of a break from tax payers and the government to cover prescription costs for their retired workers. In effect they will only be able to deduct 72% of the cost instead of 100% of the cost? It seems to me like this would be what the tax payers would want wouldn't it making the healthcare bill a deficit reducing bill and lessening the burden on the tax payer?
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They aren't getting less of a break from tax payers. It isn't the taxpayers money to begin with. This isn't some low income individual or family getting a tax refund when they did not pay into the system in the first place.
They are not able to deduct some of the costs and/or get a tax credit against what they are PAYING in taxes as an incentive to provide a benefit to retired workers.
The government provided an INCENTIVE for private companies to pay for a benefit for their retirees so they would not need to rely on taxpayer funded medicare. Take away the incentive and costs go up for them to continue to offer those benefits. They can raise their costs (by taking a one time charge) to properly represent what costs will be for YOY c...
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They are not able to deduct some of the costs and/or get a tax credit against what they are PAYING in taxes as an incentive to provide a benefit to retired workers.
The government provided an INCENTIVE for private companies to pay for a benefit for their retirees so they would not need to rely on taxpayer funded medicare. Take away the incentive and costs go up for them to continue to offer those benefits. They can raise their costs (by taking a one time charge) to properly represent what costs will be for YOY c...
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I couldn't agree more. I feel sorry for any employee who has worked their butts off to stay with a company that provides good benefits - thanks to your elected congress, you will now more than likely start paying a significant amount more for your health insurance, or have benefits cut back. Meanwhile the guy down the street barely holding on to his job at McDonalds, who wouldn't know a work ethic if it slapped him in the face, gets to take your tax money and get "subsidized" insurance thanks to good 'ol uncle sam.
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asiatic1982 said:
I couldn't agree more. I feel sorry for any employee who has worked their butts off to stay with a company that provides good benefits - thanks to your elected congress, you will now more than likely start paying a significant amount more for your health insurance, or have benefits cut back. Meanwhile the guy down the street barely holding on to his job at McDonalds, who wouldn't know a work ethic if it slapped him in the face, gets to take your tax money and get "subsidized" insurance thanks to good 'ol uncle sam.
Further evidence that the only retirement plans worth a damn any more are INDIVIDUALIZED accounts like IRAs and 401(k)s.
This collective retirement pension/Social Security bal...
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thats a good perspective.
Atleast now someone who doesn't work for a giant corporation can get a subsidy for healthcare just like a corporation does. My big complaint on that bill is the drug companies got a sweet deal that allowed zero bargaining on drug costs.
Atleast now someone who doesn't work for a giant corporation can get a subsidy for healthcare just like a corporation does. My big complaint on that bill is the drug companies got a sweet deal that allowed zero bargaining on drug costs.
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They'll only be able to take a 100% deduction for expenditures instead of the 128% deduction...
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