Over the last few days, there has been some rather idiotic blathering coming from the Republicans and their allies that the Health Insurance Reforms are going to bankrupt some of the nation's top companies and render them unable to compete internationally, such as Prudential, AT&T, Caterpillar, 3M, Verizon, and others. Indeed, The Hayride harps on this in a post, stating that:
" ... we see the fantasies and delusions of Waxman and his left-wing ideologues in Congress running up against the cold, hard wall of the reality-based community."
Fantasies and delusions? Seriously? Let's find out exactly what has got the Republicans and their conservative allies so concerned, from a blog part of the Wall Street Journal's network:
As explained in plain English in today's Wall Street journal, "companies that provide this [Medicare Part D] benefit, as AT&T [and Prudential, Caterpillar, 3M, etc.] does, receive a federal subsidy, plus they can deduct the value of this subsidy from their taxes. The health overhaul cancels the deductibility of the subsidy."
Let me ask a question of readers here in even plainer English: Can anybody actually be upset about the fact that giant corporations have to stop taking tax deductions for welfare checks they get for providing health care to their employees and retirees?
Imagine if you will, the government sending you a check to pay for your prescription drugs and then you getting to deduct that amount from your income tax statement.
Seriously, Republicans? You and your allies like The Hayride support corporate welfare? I wonder where the Louisiana GOP stands on this ...
