New Healthcare Bill to cost Cat $100M - Page 6 - PowerStrokeNation : Ford Powerstroke Diesel Forum
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post #51 of 63 (permalink) Old 03-26-2010, 03:35 AM
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Re: New Healthcare Bill to cost Cat $100M

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The company said the potential extra costs would primarily come from provisions to tax the federal subsidies the company now receives for providing prescription-drug benefits to retirees and their spouses.

Since the Medicare drug program was enacted in 2003, Caterpillar and more than 3,500 companies that already provided drug benefits for retirees have received tax-free subsidies from the federal government as an incentive to maintain their drug programs.

The subsidies average $665 per person covered under a company-sponsored prescription program, according to benefits consultant Towers Watson, which recently completed a study on the health-care legislation's effects.

Watson Towers estimates federal taxes on the drug subsidies would amount to $233 per person receiving drug benefits under such programs.

About 40,000 Caterpillar retirees receive company-sponsored drug benefits, which are more generous than Medicare's drug plan, in which recipients are required to pay some out-of-pocket expenses.

Proponents of subjecting the drug benefit subsidies to federal income taxes argue that Caterpillar and other companies are already able to deduct health care benefit costs, including the drug program, from their taxes as a business expense.
Using an article that supports your position is typical of you Gandy Pants. But at least do the simple math. Taxes of $233/person x 40,000 retirees = $9,320,000. Where is the other $90,680,000 in cost?

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post #52 of 63 (permalink) Old 03-26-2010, 03:47 AM
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Re: New Healthcare Bill to cost Cat $100M

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Using an article that supports your position is typical of you Gandy Pants.
And shooting from the hip and expecting everyone to automatically believe you...................is yours.

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But at least do the simple math. Taxes of $233/person x 40,000 retirees = $9,320,000. Where is the other $90,680,000 in cost?
You tell us.

Go ahead and guess......as usual. (Hint: there's another $665 in there that you seemed to have ignored ).

Besides, I'm the one that was asking where the hit was coming from in the first place.

Your vaunted Faux News is the one explaining it.

But, I'll bet you didn't even bother to read it.......now did you?

Never have so many politicians, screwed so many Americans...just to make one black person lose his job.
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post #53 of 63 (permalink) Old 03-26-2010, 03:49 AM
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Re: New Healthcare Bill to cost Cat $100M

Wow, when I saw the name of this thread, I thought we were going to have to start a fund to help Cat_Rebel get through this episode of his life.

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post #54 of 63 (permalink) Old 03-26-2010, 04:05 AM
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Re: New Healthcare Bill to cost Cat $100M

Why are right-wingers so anti-government, anti-subsidies.... yet when Cat is crying a loss of profits because their subsidies are being cut off, the right-wing extremists come out of the closet and try to make excuses?

Seriously people.

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post #55 of 63 (permalink) Old 03-26-2010, 04:10 AM
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Re: New Healthcare Bill to cost Cat $100M

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Originally Posted by AK Gandy View Post
And shooting from the hip and expecting everyone to automatically believe you...................is yours.


You tell us.

Go ahead and guess......as usual. (Hint: there's another $665 in there that you seemed to have ignored ).

Besides, I'm the one that was asking where the hit was coming from in the first place.

Your vaunted Faux News is the one explaining it.

But, I'll bet you didn't even bother to read it.......now did you?
You're dumber than I thought. Read the damn article that you provided. It clearly explains where the majority of the cost comes from...taxes. It then explains the tax amount and how many people are covered. Where's your difficulty in understanding this?

I don't know where the cost is coming from...I didn't quote it. I also didn't try to prove that the majority of the costs come from taxing subsidies. You did. Now go pull out your calculator and do the math. Hint: The $665 amount is the subsidy, not a cost.

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post #56 of 63 (permalink) Old 03-26-2010, 04:22 AM
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Re: New Healthcare Bill to cost Cat $100M

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Why are right-wingers so anti-government, anti-subsidies.... yet when Cat is crying a loss of profits because their subsidies are being cut off, the right-wing extremists come out of the closet and try to make excuses?

Seriously people.
Just another example of missing the point. If you're going to post up numbers, at least check to see that they make sense.

I say get rid of the subsidy completely. (And all other subsidies while your at it. ALL OF THEM.) It won't bother CAT, but there will be 40,000 retired employees who may complain a little. Of course they will all be a part of the new health care system anyway, so what would be their point in arguing a system they no doubt supported.

BTW, the subsidies, according to Gandy Pants' post, are being taxed, not cut off.

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post #57 of 63 (permalink) Old 03-26-2010, 04:35 AM
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Re: New Healthcare Bill to cost Cat $100M

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Just another example of missing the point. If you're going to post up numbers, at least check to see that they make sense.

I say get rid of the subsidy completely. (And all other subsidies while your at it. ALL OF THEM.) It won't bother CAT, but there will be 40,000 retired employees who may complain a little. Of course they will all be a part of the new health care system anyway, so what would be their point in arguing a system they no doubt supported.

BTW, the subsidies, according to Gandy Pants' post, are being taxed, not cut off.
Ok, so according to that article, they receive government handouts (subsidies), and will now have to give some of it back in taxes. Doesn't that equal cutting out some of the government handouts?


Government: "Were going to give you some money, but we're going to expect you to pay some of it back. But hey, keep the rest of it"


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post #58 of 63 (permalink) Old 03-26-2010, 04:57 AM
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Re: New Healthcare Bill to cost Cat $100M

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Originally Posted by BrianC View Post
You're dumber than I thought.
I can see that trying to have a polite discussion with you is futile.


First you say this.
Quote:
Originally Posted by BrianC View Post
Using an article that supports your position is typical of you Gandy Pants. But at least do the simple math. Taxes of $233/person x 40,000 retirees = $9,320,000. Where is the other $90,680,000 in cost?
Then you say this;
Quote:
Originally Posted by BrianC View Post
Read the damn article that you provided. It clearly explains where the majority of the cost comes from...taxes.
And then you say this;
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Originally Posted by BrianC View Post
I don't know where the cost is coming from...I didn't quote it. I also didn't try to prove that the majority of the costs come from taxing subsidies.
And yet you don't even try to provide anything to justify your position, except your own opinion.

Never have so many politicians, screwed so many Americans...just to make one black person lose his job.
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post #59 of 63 (permalink) Old 03-26-2010, 11:32 AM
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Re: New Healthcare Bill to cost Cat $100M

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I'm sure there's people on this forum that read more of the health care bill than Obama himself did.
Sad but true

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post #60 of 63 (permalink) Old 03-26-2010, 12:27 PM
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Re: New Healthcare Bill to cost Cat $100M

"Worldwide employment was 94,225 at the end of third quarter 2009. Employment declined by approximately 17,900 from third quarter 2008. Due to restructuring of business operations, the decades since the 1990s have seen the elimination of 20,000 high-wage union jobs in the Peoria, Illinois area, while world-wide employment has increased due to the use of more non-U.S. and nonunion labor.

According to a 2001 article in the Nashville Business Journal, 60% of Caterpillar's employees work outside the United States"

Wow! Now I'm wondering why CAT doesn't just make it 100% outside the US. Could it be the letter is the first step in that direction? With this type of back door public announcement if they're not warming up folks for leaving maybe they are setting the stage to drop benefits for US employees/retirees.

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