AT&T takes a $1 billion hit from Dem health care

The WSJ has the story. The cumulative total for the cost of this monstrosity keeps growing as companies add up the costs. Small business, which does not have to report these numbers is even more vulnerable and they will probably have to start laying off people pretty soon.

Fox Business News has more on the AT&T charges along with a list of some of the other companies who have reported charges in the millions. I will try to find other charges. If readers see some, let me know.

Fox News has more on the charges. The charges in part relate of losing a subsidy for retiree drug coverage. The Bush administration provided the subsidy to discourage companies from putting the retirees under the Medicare drug benefit. The subsidy actually saved the government because it was half the cost of the Medicare drug benefit.

It appears that the Democrats have given business a substantial incentive to drop their retiree drug plans, which can lead to a significant increase to the costs of Medicare. This is just another example of a screw up in the rationed health care legislation.

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