Maybe it was because none of them read the bill.
Anyway, after week one of ObamaCare, Caterpillar and John Deere reported that the new law would cost them $250 million combined this year. AT&T reported a cool $1 billion coming out of its coffers this quarter alone, due to wealth redistribution
socialized medicine healthcare reform, and numerous other businesses are reporting similar dire consequences.
This restating of earnings to reflect long term health costs and tax burdens - as required by the Security and Exchange Commission - hasn't been in lockstep with the Liberal Master Plan and the Democrats who have been hiding the true damage of this reform are pissed. From the WSJ:
…Henry Waxman and House Democrats announced yesterday that they will haul these companies in for an April 21 hearing because their judgment "appears to conflict with independent analyses, which show that the new law will expand coverage and bring down costs."
In other words, shoot the messenger. Black-letter financial accounting rules require that corporations immediately restate their earnings to reflect the present value of their long-term health liabilities, including a higher tax burden. Should these companies have played chicken with the Securities and Exchange Commission to avoid this politically inconvenient reality? Democrats don't like what their bill is doing in the real world, so they now want to intimidate CEOs into keeping quiet.
Good luck. These idiots are in for a real shock come November.
Regardless, the WSJ sums up the entire healthcare reform scenario as one big, poorly-designed scam:
The Democratic political calculation with ObamaCare is the proverbial boiling frog: Gradually introduce a health-care entitlement by hiding the true costs, hook the middle class on new subsidies until they become unrepealable, but try to delay the adverse consequences and major new tax hikes so voters don't make the connection between their policy and the economic wreckage. But their bill was such a shoddy, jerry-rigged piece of work that the damage is coming sooner than even some critics expected.
I concur wholeheartedly.