NEW YORK (AP) -- The corporate tax impact of the recent health care overhaul grew Thursday as Verizon Communications Inc. announced it will record a related $970 million non-cash charge in the first quarter.
So far at least 15 companies have disclosed about $2.8 billion in charges prompted by the health care overhaul. Verizon's charge is the second-largest after AT&T, which last week announced a $1 billion charge related to the tax bill.
Verizon and other companies currently receive a government subsidy to keep prescription drug benefits for retirees. They've been able to deduct all of their expenses, but that ends in 2013 under the recently passed legislation.
Companies are announcing the charges now because accounting rules say they have to book them during the period a new law is enacted.
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Comrade B.O. is just doing what the Oligarchs told him to do. There is no need to focus on him at all. Just a standee on a stage with a microphone repeating what he is told to say.
ReplyDeleteThis is just great. Gas near 3.00/gallon and now rising consumer costs to kill us even more. Obama will go down in infamy. We need to wipe this liberal scum from the land. They do it all for lust of power over the people. How much more power will you give them, America? Wake up before it's too late and you find yourself imprisioned.
ReplyDeleteAfter all that's happened during Obama's regime, the masses are still as ignorant as ever..Now he's pushing the small arms treaty to take away the second amendment. The American people won't wake up; the few that are, already are informed. Unless we have enough "oath keepers" type patriots left, there is no hope, period!
ReplyDeleteYES, 2:26 YOU GOT IT. CORRUPTION IS DEEP. A FRIEND OF MINE BELIEVES THAT WE ARE GOING TO WIN THIS THING. I THINK WE WILL BE ABLE TO TAKE IT BACK WHEN THE COUNTRY IS ALL BANKRUPT,BROKEN, AND ETC. THEN WE CAN BRING THE ONES RESPONSIBLE FOR THIS MASSIVE CLUSTER OUT INTO THE STREETS. THEN......YOU KNOW THE REST!!!
ReplyDeleteI can well imagine days of old, when the crooks were actually hung from the lamp posts, out in the public square.
ReplyDeleteDon't kid yourself, it's possible, there might even be public floggings, there is a good reason the crooks are all buying land elsewhere and not the here. They know what is coming down the pipe a few years from now.
I know, I know, some of you say "we have been hearing this for years" but keep in mind this admin has committed the biggest power grab in history, all by design.
A few, maybe three or four years from now it could be very ugly.
I will keep saying this because not enough people believe it yet. Attornies are at the root of every problem and struggle in the United States. If you will open your eyes and think about it. Attorneys are consulted when we need to trash the Constitution. Attorneys who are or have been ambulance chasers and are responsible for all of our inflated health care costs are in politics.
ReplyDeleteEvery company consults Attorneys before they do anything good bad or indifferent to find out how to pull it off. If you think that there is not some attorney somewhere that did not know that Barney Maddoff was doing illegal stuff and was sworn to secrecy you are a dreamer.
If I was an attorney I would want your gun right removed as well. Cause some day America will figure it all out and be a little miffed. I do not wish any of them physical harm, but I do believe if and or when there is ever a collapse and money cannot buy freedom that there are hundreds of attorneys that will need to be tried and incarcerated to punish them for the evil brought into the people of this great nation.
Verizon and other companies currently receive a government subsidy to keep prescription drug benefits for retirees
ReplyDeleteWhaaaaa no more subsidies!!!! Tell me why they deserve a subsidy in the first place... Oh yes because Bush gave it to them in his unfunded prescription law that he passed by reconciliation!!!!!
ATT had profits of $12.39 billion in 2009 and Verizon $6.67 billion. WTF and we are suppose to feel bad about cutting their subsidy????
ReplyDelete8:52 thats NOT the point. The point is that the consumer will be paying MORE for everything that the subsidies took away..Get it? They have to make up for the loss. WE PAY FOR IT!
ReplyDeleteDid you know that Fred Phelps is an Attorney? He is disbarred, but it is able to defend himself and the church without cost. That is how he continues to persecute the families of fallen soldiers is by his use of the law and free speech.
ReplyDeletehttp://www.newsrealblog.com/2010/04/02/court-punishes-family-of-fallen-marine//#pageTitle
8:54 WHAT DO YOU THINK A SUBSIDY IS???? WE PAY IT WITH TAX DOLLARS!Now they have to pay it out of profits, which they earn. What part of subsidy don't you get? Socialist program set up by Bush cronies? HMMMMM
ReplyDeletelaura--
ReplyDeletewhat do you mean by 'small arms treaty to take away 2nd amendment?" do you meen the salt treaty signed with medvedev? those aren't small arms, baby. they're ICBM MIRV.
Rite Aid gave me the wrong meds aboout 3 months ago.The meds I was given was for a person with diabetes,which dropps the blood sugar.I took the meds became sick had to go our local ER. The sad thing about this situation is: Im not diabete! Then their Attys called me and tried to make me give them an amount to settle. I am now having seizures, broke my foot while having a seizure...I make $1107 a month- had to use up all my personal time going seeing different doctors which was 90 days! And by the way, to the person who made the rude comments about us AMERICANS, please,please do me a favor...Kiss My AS.......!!!!
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