This is no April Fools. CEO's are speaking out about the enormous tax burden, billions of dollars, due to the Democrats health reform bill that was signed by Obama.
AT&T will take $1B non-cash charge for health care (Forbes). The charge is the largest disclosed so far. Earlier this week, AK Steel Corp., Caterpillar Inc., Deere & Co. and Valero Energy announced similar accounting charges, saying the health care law that President Barack Obama signed Tuesday will raise their expenses. On Friday, 3M Co. said it will also take a charge of $85 million to $90 million.
So Henry Waxman says he is going to haul their butts before Congress to defend themselves! HUH???
John Fund calls the upcoming Waxman hearing on April 21, the first Demcare death panel.
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