Seraphic Secret usually publishes just one post per day.
But son-in-law #1 just brought this very important story to my attention.
The facts are simple: Obamacare, as the Republicans have charged, is a national disaster in the making. And not content to destroy the world’s greatest health care system, the Democrats, led by Henry Waxman, are hiding information that every American has the right to know.
A few years ago Karen and I attended a parlor meeting featuring Henry Waxman.
He told us—an Orthodox Jewish group—that he got into politics because he was so angry at Richard Nixon’s duplicity. He made Nixon sound, I kid you not, like the most evil man in the history of American politics.
Hatred and scorn, as political motivation, inevitably yields catastrophic results.
Witness California, bankrupt, Greece in progress. A once golden state disemboweled by the ruling Democrat party, their lord and masters the unions, and the Democrat addiction to unsustainable entitlement programs.
It would have been nice if Waxman became involved in politics because of a love for American values and the Constitution. Unfortunately, Henry Waxman loves European values, social engineering in the form of fiscal death spiral nanny states like Greece, soon to be joined by Spain, Italy, Portugal and Ireland.
But Representative Henry Waxman’s a leftie and the left is motivated by inchoate rage. Hence, they are incapable of building, only destroying.
It was a childish and embarrassing performance replete with moral preening and dopey assertions about Jewish values. For Waxman, this was—sigh, head in hands—“social justice,” code for Socialism. Waxman was pandering to what he thought was an overwhelmingly Democrat audience.
But Henry Waxman is so out of touch, lives in such a liberal bubble, he didn’t understand that many if not most in the room were Republicans.
I didn’t bother pointing out to Waxman that for all of Nixon’s faults he saved the state of Israel in 1973 when he ordered, against the advice of his cabinet, Operation Grasshopper, an airlift to resupply Israel’s depleted arms. Why bother, Waxman’s a hard-core leftie and facts don’t really matter to him or his fellow travelers.
Waxman was one of the main authors of the 2,500 page monstrosity called Obamacare. Now he’s involved in a massive cover-up of the bill’s horrendous consequences.
Nixon was involved in a cover-up, but he had the decency to resign.
I can guarantee that Waxman will deny, deny, deny his role in this criminal cover-up, and probably get elected by the Democrat lemmings in my district.
(Fortune) — The great mystery surrounding the historic health care bill is how the corporations that provide coverage for most Americans — coverage they know and prize — will react to the new law’s radically different regime of subsidies, penalties, and taxes. Now, we’re getting a remarkable inside look at the options AT&T, Deere, and other big companies are weighing to deal with the new legislation.
Internal documents recently reviewed by Fortune, originally requested by Congress, show what the bill’s critics predicted, and what its champions dreaded: many large companies are examining a course that was heretofore unthinkable, dumping the health care coverage they provide to their workers in exchange for paying penalty fees to the government.
That would dismantle the employer-based system that has reigned since World War II. It would also seem to contradict President Obama’s statements that Americans who like their current plans could keep them. And as we’ll see, it would hugely magnify the projected costs for the bill, which controls deficits only by assuming that America’s employers would remain the backbone of the nation’s health care system.
Hence, health-care reform risks becoming a victim of unintended consequences. Amazingly, the corporate documents that prove this point became public because of a different set of unintended consequences: they told a story far different than the one the politicians who demanded them expected.
Why the write-downs happened but the hearings didn’t.
In the days after President Obama signed the bill on March 24, a number of companies announced big write downs due to some fiscal changes it ushered in. The legislation eliminated a company’s right to deduct the federal retiree drug-benefit subsidy from their corporate taxes. That reduced projected revenue. As a result, AT&T (T, Fortune 500) and Verizon (VZ, Fortune 500) took well-publicized charges of around $1 billion.
The announcements greatly annoyed Representative Henry Waxman, who accused the companies of using the big numbers to exaggerate health care reform’s burden on employers. Waxman, chairman of the House Energy and Commerce Committee, demanded that they turn over their confidential memos, and summoned their top executives for hearings.
Yup, remember Henry Waxman’s self-righteous grandstanding.
But Waxman didn’t simply request documents related to the write down issue. He wanted every document the companies created that discussed what the bill would do to their most uncontrollable expense: healthcare costs.
The chaos and rioting gripping Greece is a foreshadowing of what will happen in America if Obamacare kicks in.
The request yielded 1,100 pages of documents from four major employers: AT&T, Verizon, Caterpillar and Deere (DE, Fortune 500). No sooner did the Democrats on the Energy Committee read them than they abruptly cancelled the hearings. On April 14, the Committee’s majority staff issued a memo stating that the write downs were “proper and in accordance with SEC rules.” The committee also stated that the memos took a generally sunny view of the new legislation. The documents, said the Democrats’ memo, show that “the overall impact of health reform on large employers could be beneficial.”
In short, Henry Waxman and the Democrats are liars…
Nowhere in the five-page report did the majority staff mention that not one, but all four companies, were weighing the costs and benefits of dropping their coverage.
… if not criminals.
Full story here.