We don’t have geniuses in Congress but we do have greedy people who don’t read the legislation they pass, cut deals, lie, cheat, steal and when they get caught they shoot the messenger.

In the case of health care also known as Obamacare the messenger’s are AT&T, Caterpillar, John Deere, Verizon, AK Steel and 3m corporations. You see, the new “health care” will have consequences on each citizen. While some complain that those evil corporations need to be punished they forget that corporations are made up of people and people follow the law, corporate governance and make decisions.

This past Friday, AT&T, the biggest U.S. telephone company, announced that it would take a $1 billion charge against earnings thanks to tax changes buried in the 2,300+ page bill. $1 billion. That is a full third of AT&T’s $3 billion earnings for the fourth quarter of 2009.

These tax charges stem from changes Obamacare makes to the tax treatment of prescription-drug benefits for retirees. Companies used to be able to deduct part of their costs for providing drug benefits to their retirees, but Obamacare cancels that deduction.

Companies had counted on these deductions for current and future retirees as an existing asset under the old law, accounting rules require firms to take the full loss for the change in the same quarter in which the tax law is changed. Friday’s announcement to inform shareholders that AT&T’s bottom line was about to take a $1 billion hit was an act required by law.

Piper Jaffray & Co. analyst Chris Larsen tells Bloomberg:

“Companies like AT&T, that have large employee bases, are going to have higher health-care costs and, therefore, lower earnings unless they can negotiate something or offer less to their employees.” And changes to current and future retirees’ health care seem to be exactly what will AT&T will do as a side effect of Obamacare. AT&T wrote in their Friday filing: “As a result of this legislation, including the additional tax burden, AT&T will be evaluating prospective changes to the active and retiree health-care benefits offered by the company.”

The charges are “noncash,” meaning companies don’t have to write a check. Ultimately their tax bills will be higher given the change in tax treatment of the drug-benefit subsidy. These charges are related to a 2003 law providing a prescription-drug benefit under Medicare. At the time it was adopted, some companies were threatening to drop drug coverage for their retirees, since this would now be available through Medicare. Congress voted them a 28% tax-free subsidy for continuing to provide coverage to retirees eligible for Medicare.

Subsidies caused the cost of companies’ obligations for retiree benefits to decline. AT&T, for example, saw its obligation drop by $1.6 billion at the time.

Cost of providing retiree prescription-drug coverage was already tax-deductible before the 2003 law. After that law was signed, companies remained able to deduct the cost of providing the benefit, including the portion paid for by the subsidy.

Obamacare doesn’t eliminate the subsidy, nor make it taxable. What it changes is that companies will no longer be able to deduct the portion of the drug benefit paid for by the subsidy.

Towers Watson estimates that just this tax change alone will eliminate $14 billion in U.S. corporate profits. That’s $14 billion less American employers have to spend creating new jobs when our unemployment rate is still 9.7%. AT&T is not the only company informing employees that Obamacare is going to mean worse care for them. Verizon Communications, the second biggest U.S. phone company, told employees last week that Obamacare “may have significant implications for both retirees and employers.”

This is the tip of the Obamacare financial iceberg and the Leftist health care reform is the Titanic. Now the the “ruling” class in Washington is called CEOs from these companies to explain themselves.

Phase I in the Congressional accounting lesson is about to begin – we hope Bart Stupak (D-MI) and Henry Waxman (D-CA) are prepared to finally understand what is inside of the disaster known as Obamacare, indeed!

The new Obamacare healthcare law creates a Ready Reserve Corp – an army of emergency responders. The US Public Health Service describes this army as “an elite team of more than 6,000 full-time, well-trained, highly qualified public health professionals dedicated to delivering the nation’s public health promotion and disease prevention programs and advancing public health science.” It also says the force will respond on short notice to “routine public health and emergency response missions,” even involuntarily.

According the US Public Health Service, the new health care army will:

* Provide essential public health and health care services to under-served and disadvantaged populations

* Prevent and control injury and the spread of disease

* Ensure that the nation’s food supply, drinking water, drugs, medical devices and environment are safe

* Conduct and support cutting-edge research for the prevention, treatment and elimination of disease, health disparities and injury

* Work with other nations and international agencies to address global health challenges

* Provide urgently needed public health and clinical expertise in response to large-scale local, regional and national public health emergencies and disasters

This Marxist legislation recently added the following text to Section 203 of the Public Health Service Act:

‘(b) Assimilating Reserve Corp Officers Into the Regular Corps- Effective on the date of enactment of the Patient Protection and Affordable Care Act, all individuals classified as officers in the Reserve Corps under this section (as such section existed on the day before the date of enactment of such Act) and serving on active duty shall be deemed to be commissioned officers of the Regular Corps.

‘(c) Purpose and Use of Ready Research-

‘(2) USES- The Ready Reserve Corps shall–

‘(A) participate in routine training to meet the general and specific needs of the Commissioned Corps;

‘(B) be available and ready for involuntary calls to active duty during national emergencies and public health crises, similar to the uniformed service reserve personnel;

‘(C) be available for backfilling critical positions left vacant during deployment of active duty Commissioned Corps members, as well as for deployment to respond to public health emergencies, both foreign and domestic; and

‘(D) be available for service assignment in isolated, hardship, and medically underserved communities (as defined in section 799B) to improve access to health services.

‘(d) Funding- For the purpose of carrying out the duties and responsibilities of the Commissioned Corps under this section, there are authorized to be appropriated $5,000,000 for each of fiscal years 2010 through 2014 for recruitment and training and $12,500,000 for each of fiscal years 2010 through 2014 for the Ready Reserve Corps.’

This unit will fall under the orders of Barack Hussein Obama and of course there is no Constitutional basis to this authority. The states use the National Guard (state militia) to handle emergencies, and obviously, this gives the president more power over the states. It also may provide power for Obama to force all Americans into vaccinations and other medical treatments using the words national emergency.

Some fear doctors who plan on leaving the profession due to the Obamacare mandates will be forced into service. Remember the force will respond on short notice to “routine public health and emergency response missions,” even involuntarily.

This health care bill also sets up the start of the civilian military force Obama announced during the campaign on July 2, 2008.

“We cannot continue to rely on our military in order to achieve the national security objectives that we’ve set,” he said. “We’ve got to have a civilian national security force that’s just as powerful, just as strong, just as well-funded.”

Change you don’t want to believe in but it’s time you listen. WAKE UP AMERICA, INDEED!

The following from Facebook Friend, Joan Schield:

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This is a letter I want to repeat to my children and grandchildren who voted for Obama…..

John G. Is 63 years old and owns a small business. He’s a life-long Republican and sees his dream of retiring next year has all but evaporated. With the stock market crashing and new taxes coming his way, John assumes now that he will work to his dying day.

John has a granddaughter.. Ashley is a recent college grad. She drives a flashy hybrid car, wears all the latest fashions, and loves to go out to nightclubs and restaurants. Ashley campaigned hard for Barack Obama. After the election she made sure her grandfather (and all other Republican family members) received a big I told-you-so earful on how the world is going to be a much better place now that her party is taking over.

Having lost both roommates, Ashley recently ran short of cash and cannot pay the rent (again) on her 3 bedroom townhouse.. Like she has done many times in the past, she e-mailed her grandfather asking for some financial help.

Here is his reply:
Sweetheart, I received your request for assistance.

Ashley, you know I love you dearly and I ‘m sympathetic to your financial plight. Unfortunately, times have changed. With the election of President Obama, your grandmother and I have had to set forth a bold new economic plan of our own…”The Ashley Economic Empowerment Plan.” Let me explain.

Your grandmother and I are life-long, wage-earning tax payers. We have lived a comfortable life, as you know, but we have never had the fancier things like European vacations, luxury cars, etc.. We have worked hard and were looking forward to retiring soon. But the plan has changed. Your president is raising our personal and business taxes significantly. He says it is so he can give our hard earned money to other people. Do you know what this means, Ashley? It means less for us, and we must cut back on many business and personal expenses.

You know the wonderful receptionist who worked in my office for more than 23 years? The one who always gave you candy when you came over to visit? I had to let her go last week. I can’t afford to pay her salary and all of the government mandated taxes that go with having employees. Your grandmother will now work 4 days a week to answer phones, take orders and handle the books. We will be closed on Fridays and will lose even more income to the Wal-Mart.

I’m also very sorry to report that your cousin Frank will no longer be working summers in the warehouse. I called him at school this morning.. He already knows about it and he’s upset because he will have to give up skydiving and his yearly trip to Greenland to survey the polar bears.

That’s just the business side of things. Some personal economic effects of Obama’s new taxation policies include none other than you You know very well that over the years your grandmother and I have given you thousands of dollars in cash, tuition assistance, food, housing, clothing, gifts, etc.., etc. But by your vote, you have chosen to help others — not at your expense — but at our expense.

If you need money now sweetheart, I recommend you call 202-456-1111. That is the direct phone number for the White House. You can also contact the White House here: http://www.whitehouse.gov/CONTACT/ .

You yourself told me how foolish it is to vote Republican. You said Mr Obama is going to be the People’s President, and is going to help every American live a better life. Based on everything you’ve told me, along with all the promises we heard during the campaign, I’m sure Mr. Obama will be happy to transfer some stimulus money into your bank account. Have him call me for the account number which I memorized years ago..

Perhaps you can now understand what I’ve been saying all my life: those who vote for a president should consider the impact on the nation as a whole, and not be just concerned with what they can get for themselves. What Obama supporters don’t seem to realize is all of the money he is redistributing to illegal aliens and non-taxpaying Americans (the so-called “less fortunate”) comes from tax-paying families.

Remember how you told me, “Only the richest of the rich will be affected”? Well guess what, honey? Because we own a business, your grandmother and I are now considered to be the richest of the rich. On paper, it might look that way, but in the real world, we are far from it.

As you said while campaigning for Obama, some people will have to carry more of the burden so all of America can prosper.. You understand what that means, right? It means that raising taxes on productive people results in them having less money; less money for everything, including granddaughters.

I’m sorry, Ashley, but the well has run dry.. The free lunches are over.. I have no money to give you now. So, congratulations on your choice for “change.” For future reference, I encourage you to try and add up the total value of the gifts and cash you have received from us, just since you went off to college, and compare it to what you expect to get from Mr. Obama over the next 4 (or years. I have not kept track of it, Ashley. It has all truly been the gift of our hearts.

Remember, we love you dearly….but from now on you’ll need to call the number mentioned above. Your “Savior” has the money we would have given to you. Just try and get it from him.

Good luck, sweetheart.
Love, Grandpa

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Good Luck, Indeed!