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Sue Lowden Stands by Chicken Health Care Barter Plan

The Prof said:
no problem with half a T cuts to m&m while massively expanding both already strained-to-breaking entitlements?

no concern for 200B of unfunded mandates on already broken-backed state budgets?

the fining of 4 million, the double counting of a quarter T?

interesting...

how 'bout the DOC FIX, yet ANOTHER quarter T unfunded?

as for at&t and the billion dollars that's "not real money..."

(LOL!)

tell it to the "current and retired workers" who will see "changes to their benefits"

AT&T to Book $1 Billion Cost on Health-Care Reform (Update3) - BusinessWeek

tell it to the benefits managers forced "to offer less to their employees"

tell it to those on the receiving end of "prospective changes to the active and retiree health care benefits offered by the company"

tell THEM their probems are not real...

tell bloomberg...

don't tell me
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It isn't real money... ask any CPA friend of yours about the nature of deferred tax liabilities. Is largely a reconciliation account between an accounting calculation of tax expense and the tax that actually is paid. A liability is created to account for some hypothetical future tax.... Then look at ATT financial statements and you will see they pay very, very little actual US taxes. In fact, per the 2009 footnotes to financial statements, ATT had unrecognized tax benefits (government owes ATT a credit on future taxes) of more than $4B... so this "hit" would merely lower this benefit.

If US chose to end corporate subsides of rich retirement plans (including "Cadillac Plans") to fund the national health care initiative, it seems like a better idea than raising individual taxes. ATT will do what it needs to do. Frankly, the most they are likely to do is just whine, which is what you bought into. That is why I am telling you, so you don't perpetuate the whine.
 
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the "current and retired workers" are the ones whining

the "liability" is ultimately theirs

because, as you note, "at&t will do what it needs to do"
 
upsideguy said:
Actually this is pretty funny. Thanks for pointing this out as its a wonderful example of how things make great sound bites, but when you cut to the truth, its much to do about nothing.

Did you read the article? Its a non-cash charge to the deferred tax liability caused by the government wiping out a form of corporate welfare that was created with Medicare Part D. With the establishment of Part D, The government agreed to compensate companies that had already offered drug plans for their retirees. Given that this was nothing but corporate welfare, the Republicans should be saluting this as a welfare reform.
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The problem is that the Republicans do not recognize corporate welfare as corporate welfare since they see corporate welfare as government sponsored tax cut business stimulus - oooh. Yet you can put lipstick on that pig and call it tax cut but it is corporate welfare, ya betcha! If the Republicans don't like corporate welfare then call it by it's alterntive functional name- business socialism.
 
The Prof; now said:
ok she very well may take Reid's seat but is it a gain for the country to have

a "****-a-doodle-do" stting in the circle of 100 !! Those of us who are concerned for our country over oour party do not think so.
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well, harry's no honey

ask the voters of his state
 
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