A post by Pat
No sky falling after the health care bill was passed said Obama. Many executives of major corporations disagree. They are warning the health care law is going to cost businesses millions. That is not the kind of talk the Democrats want to hear so the executives have been summoned before Congress by Henry Waxman to explain. And bring lots of documents with you too.
It is pure bullying and intimidation. As awful as this is, it’s no surprise. It could be a gift, an eye-opener to those who still have not seen what’s happening to us. The Democrats are totally addicted to the narcotic levels of power they’ve indulged in. They’re not even bothering to disguise themselves any longer.
And the media wants to scare people about the Tea Partiers! I bet this brass knuckle move will bring, oh, dozens more out to the rallies.
Rep. Henry Waxman, chairman of the House Committee on Energy and Commerce, has summoned some of the nation’s top executives to Capitol Hill to defend their assessment that the new national health care reform law will cost their companies hundreds of millions of dollars in health insurance expenses. Waxman is also demanding that the executives give lawmakers internal company documents related to health care finances — a move one committee Republican describes as “an attempt to intimidate and silence opponents of the Democrats’ flawed health care reform legislation.”
On Thursday and Friday, the companies — so far, they include AT&T, Verizon, Caterpillar, Deere, Valero Energy, AK Steel and 3M — said a tax provision in the new health care law will make it far more expensive to provide prescription drug coverage to their retired employees. Now, both retirees and current employees of those companies are wondering whether the new law could mean reduced or canceled benefits for them in the future.
Waxman’s letter suggests he does not accept the company’s decision. “The new law is designed to expand coverage and bring down costs, so your assertions are a matter of concern,” Waxman wrote to Stephenson, in addition to letters to Verizon CEO Ivan Seidenberg, Caterpillar CEO James Owens, and Deere & Company CEO Samuel Allen. The companies’ decisions, Waxman wrote, “appear to conflict with independent analyses.” [The companies must have it wrong!! – pat]
Waxman’s request could prove particularly troubling for the companies. The executives will undoubtedly view such documents as confidential, but if they fail to give Waxman everything he wants, they run the risk of subpoenas and threats from the chairman. And all as punishment for making a business decision in light of a new tax situation.
Neil Cavuto spoke to businessman and former football great Fran Tarkenton. I’d love to see more of him on the air.
I do disagree a bit with Mr. Tarkenton. The problem isn’t that there is little business experience in the Obama White House. They hate private enterprise and want to destroy it.