On tonight's Fox All Stars panel, Juan Williams tried to claim that AT&T, Caterpillar, et.al., are in some way whining about wanting a tax break by restating their earnings in light of the loss of the tax break they formerly received for providing prescription drug coverage to retirees.
Fortunately, Charles Krauthammer called him on his lying (or stupidity), and correctly pointed out that the law requires companies to restate earnings on changes in health plans, which this clearly causes.
Finally, Williams gets one thing right - companies will push their retirees, and probably their employees eventually, out of employer-sponsored plans, and onto the government-sponsored or approved plans. For retirees, who will go first, it will be forced into Medicare, where they will pay more for their prescriptions.
The good thing for a company at that point is they get to restate their earnings UP when they ditch all that prescription drug coverage.
Thanks, Barack!
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