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Old 03-19-2010, 09:24 AM
 
64 posts, read 91,134 times
Reputation: 29

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Companies expect to take on huge costs if the government passes this healthcare reform, undoubtedly that WILL result in some going out of business, some moving away and discourage investment that will create new jobs.

"Caterpillar: Health care bill would cost it $100M


Caterpillar Inc. said the health-care overhaul legislation being considered by the U.S. House would increase the company's health-care costs by more than $100 million in the first year alone.

In a letter Thursday to House Speaker Nancy Pelosi (D-Calif.) and House Republican Leader John Boehner of Ohio, Caterpillar urged lawmakers to vote against the plan "because of the substantial cost burdens it would place on our shareholders, employees and retirees."
Caterpillar, the world's largest construction machinery manufacturer by sales, said it's particularly opposed to provisions in the bill that would expand Medicare taxes and mandate insurance coverage. The legislation would require nearly all companies to provide health insurance for their employees or face large fines.

The Peoria-based company said these provisions would increase its insurance costs by at least 20 percent, or more than $100 million, just in the first year of the health-care overhaul program.

"We can ill-afford cost increases that place us at a disadvantage versus our global competitors," said the letter signed by Gregory Folley, vice president and chief human resources officer of Caterpillar. "We are disappointed that efforts at reform have not addressed the cost concerns we've raised throughout the year.""

Caterpillar: Health care bill would cost it $100M - Chicago Breaking Business

As a moderate I supported some of the Democrats because of opposition to Iraq and fed up with Republican overspending with Bush, we did not support massive new unaffordable social welfare programs that kill jobs and burden our kids with even more debt.
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Old 03-19-2010, 09:29 AM
 
Location: Great State of Texas
86,093 posts, read 72,507,006 times
Reputation: 27565
Companies cannot afford to operate at a loss for years on end like the government does.
But we'll find that out soon enough as companies realize the true cost to them and start dropping insurance in favor of the fine.

The government just wants revenue..they don't care whether you have company insurance or theirs.
They get their revenue either way.
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