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Sev
03-31-2010, 07:37 PM
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Continued Damage From Health Care Law


Boeing, Goodrich, And Illinois Tool Works Join Companies That Project Major Losses As A Result Of The Newly Passed Health Care Law



“Boeing Says It Will Take A Charge Of $150 Million Due To The Recent Health Care Overhaul Legislation. The Aircraft Maker, Based In Chicago, Says The Charge Will Hurt Earnings By 20 Cents Per Share In The First Quarter Of 2010.” (“Boeing To Take Charge On Health Care Reform,” The Associated Press, 3/31/10)

“Goodrich Corp. Says It Expects To Incur A One-Time Charge Of $10 Million, Or 8 Cents Per Diluted Share, Against Its First-Quarter Results. The Company Cites The Recently Passed U.S. Health-Care Reform Legislation.” (“Goodrich Foresees $10M Charge From Health-Care Reform,” Charlotte Business Journal, 3/31/10)

• “Charlotte-Based Goodrich (NYSE:GR) Is A Global Supplier Of Systems And Services To The Aerospace And Defense Industries.” (“Goodrich Foresees $10M Charge From Health-Care Reform,” Charlotte Business Journal, 3/31/10)


“Illinois Tool Works Inc. Lowered Its First Quarter And Yearly Earnings Forecast Tuesday Due To Costs Related To The Health Care Legislation Recently Passed By Congress. The Industrial Equipment Maker Said It Will Record A Tax Adjustment Of $22 Million, Or 4 Cents Per Share, To Reflect The Fact That Future Medicare Prescription Drug Subsidies Received By The Company For Retiree Prescription Drug Coverage Will Now Be Taxable.” (“Illinois Tool Works Lowers Outlook,” The Associated Press, 3/30/10)

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SENATE REPUBLICAN COMMUNICATIONS CENTER



Permalink Posted: March 31, 2010 at 1:29:10 PM EDT
New Health Law Continues To Hurt Economy


Another Company Reports $100 Million Loss From Health Care Reform As Medical Device Manufacturers And Small Businesses Brace For Impact


PRUDENTIAL: HEALTH CARE LAW WILL COST THEM $100 MILLION


“Insurer Prudential Financial Inc. Said Monday That It Will Take A $100 Million Charge In The First Quarter In Relation To The Recent Health Care Overhaul Legislation. The life insurance and annuities provider said in a regulatory filing that it will take the charge against earnings in the first quarter.” (“Prudential To Take $100M Health Care Charge In 1Q,” The Associated Press, 3/30/10)

• “Prudential Joins A Growing List Of Companies That Have Said They Will Take Accounting Charges Because Of The Health Care Bills. AT&T said last week it would take a $1 billion charge in the first quarter. AK Steel Corp., 3M Co., Caterpillar Inc., Deere & Co. and Valero Energy have also said they would take smaller charges.” (“Prudential To Take $100M Health Care Charge In 1Q,” The Associated Press, 3/30/10)


VIRGINIA MEDICAL DEVICE DISTRIBUTOR EXPECTS HIGHER COSTS



“The Health-Care Reform Bill Signed By President Obama Last Week Brings With It New Excise Taxes On The Medical Device And Pharmaceutical Industries.” (“Health-Care Reform Brings New Taxes,” Richmond BizSense, 3/29/10)

• “Wayne Sale, The Owner Of A Henrico-Based Medical Supply Distributor Health First Who Heads Up A National Trade Group That Opposes The Tax, Says He Expects Manufacturers To Pass The Cost To Him.” (“Health-Care Reform Brings New Taxes,” Richmond BizSense, 3/29/10)

• SALE: “It Directly Affects Me Because My Manufacturers Have To Take It On To The Bottom Line … Now They Will Sell Me What They Sell For $25 For $28 To Make Up The Difference.” (“Health-Care Reform Brings New Taxes,” Richmond BizSense, 3/29/10)


“LARGE TAX ON… LOWER AND MIDDLE CLASS WOMEN”



“Tucked Away In The Federal Health Care Reform Legislation Is What Many Say Is An Unfair Tax On Women. It’s Being Called The Tanning Tax, a 10 percent tax on tanning salon services that’s set to start in July. The government says the tax will generate $2.7 billion over 10 years.” (“Tanning Salons Upset Over 10 Percent Tax On Services,” WSAV NBC [Savannah, GA], 3/29/10)

• “‘At First I Thought It Was A Joke, Because I Thought Surely They’re Not Going To Impose Such A Double Digit, Large Tax On… Lower And Middle Class Women,’ Said Shannah Lane, Owner Of Tan-Tastic Tanning.” (“Tanning Salons Upset Over 10 Percent Tax On Services,” WSAV NBC [Savannah, GA], 3/29/10)



“Owners Of Salons Such As Siren Tan In West Des Moines Said Are Not Happy About It. Congress will be collecting an extra 10 percent tax on indoor tanning starting July 1. The plan is to raise $2.7 billion during the next 10 years. In part, it will be used to pay for health risks blamed on too much tanning.” (“Tanning Tax Burns Salon Owners,” KCCI [Des Moines, IA], 3/29/10)

• “‘I Think It's Sad The Government Comes In And Tells My Customers They Are Going To Be Charged More If They Chose To Look Good,’ Said Jody Wilson, Owner Of Siren Tan.” (“Tanning Tax Burns Salon Owners,” KCCI [Des Moines, IA], 3/29/10)



“Marcy DeVries Bought Grand Rapids' Westside Sun Spa A Few Months Ago, Which Finally Fulfilled Her Lifelong Dream Of Owning Her Own Salon.” (“10 Percent Tanning Tax To Start July 1,” WOOD-NBC [Grand Rapids, MI], 3/29/10)

• DeVRIES: “We're Just Surviving Right Now … It's Going To Affect Us As Business Owners Because We'll Take The Hit Because We Have To Lower Our Prices Again To Keep Our Customers.” (“10 Percent Tanning Tax To Start July 1,” WOOD-NBC [Grand Rapids, MI], 3/29/10)



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SENATE REPUBLICAN COMMUNICATIONS CENTER



Permalink Posted: March 30, 2010 at 2:44:42 PM EDT
Health Care Law Hits Medical Device Manufacturers


“The Tax Will Drive Marginally Profitable Companies Into The Red And Extend Losses For Those Already Losing Money”

MINNESOTA


“The Medical Device Excise Tax Aims To Raise $20 Billion Over Ten Years When It Goes Into Effect In 2013. It Will Apply To A Wide Range Of Medical Device Products--From Bed Pans To Stents Used For Propping Open Clogged Arteries.” (“Excise Tax Has Local Medical Device Makers Concerned,” Minnesota Public Radio, 3/29/10)

• “Minnesota Is Teeming With Companies That Make Those Products. Med Tech Giants Medtronic, Boston Scientific, St. Jude Medical, And Many Smaller Firms Have Operations In The State.” (“Excise Tax Has Local Medical Device Makers Concerned,” Minnesota Public Radio, 3/29/10)

• “’Minnesota Is Going To Take About 25 Percent Of The Hit On The Total Tax Levied Against The Medical Technology Industry,’ Said Don Gerhardt, The Chief Executive Of Lifescience Alley, A Minnesota-Based Trade Group Representing Several Industries, Including Medical Device Makers.” (“Excise Tax Has Local Medical Device Makers Concerned,” Minnesota Public Radio, 3/29/10)

• “‘I Think The Real Impact Is Going To Be On The Mid-Sized And Smaller Companies, Where Profit Margins Are A Lot More Narrow, and in some cases are so narrow that the effect of the tax will push a small minority of the companies from black to red,’ Perriello said.” (“Excise Tax Has Local Medical Device Makers Concerned,” Minnesota Public Radio, 3/29/10)



MASSACHUSETTS


“In Massachusetts, One Of The Industries Touted As A Job Creator For The Future Has Been The Manufacturing Of Medical Devices.” (“Government, Industry, Bracing For Impact Of Health Reform,” The Eagle Tribune [Lawrence, MA], 3/28/10)

• “But The Health Care Reform Law Contains A Hefty New Tax On These Products, Putting The Long-Term Prospects For Some Of These Companies In Doubt.” (“Government, Industry, Bracing For Impact Of Health Reform,” The Eagle Tribune [Lawrence, MA], 3/28/10)

• “The 225 Medical Device Manufacturers In Massachusetts Employ 21,000 People And Generate $6 Billion In Annual Sales. Their products include such items as pacemakers, defibrillators and the tools for minimally invasive joint surgery produced by Smith & Nephew Endoscopy of Andover.” (“Government, Industry, Bracing For Impact Of Health Reform,” The Eagle Tribune [Lawrence, MA], 3/28/10)

• “That The Tax Is On Sales, Not Profits, Is Significant. The Tax Will Drive Marginally Profitable Companies Into The Red And Extend Losses For Those Already Losing Money.” (“Government, Industry, Bracing For Impact Of Health Reform,” The Eagle Tribune [Lawrence, MA], 3/28/10)


INDIANA


INDIANAPOLIS STAR: “The Legislation, In Fact, Is Likely To Accelerate Price Increases In Some Areas Of Health Care. For Instance, A Tax Increase On Medical Device Companies Is Sure To Be Passed On To Consumers And Their Insurers.” (Editorial, “Vote Is Done But Debate Continues,” Indianapolis Star, 3/23/10)

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SENATE REPUBLICAN COMMUNICATIONS CENTER



Permalink Posted: March 29, 2010 at 4:25:56 PM EDT
Health Bill Already Hammering Small Businesses


“It's Going To Come Close To Shutting Me Down”; Tanning “Tax Could Cut Nearly 9,000 Jobs”

WASHINGTON


“‘We Were Really Surprised To Find Out About It Just After Christmas,’ Said Mark Willard, Desert Sun Tanning. … ‘Families, You Know, These Are People That Have Invested Their Life Savings Into These Businesses And That's How They Make Their Living. Unfortunately, now, that tax is going to be passed onto them,’ said Willard. ‘It could be very detrimental to their business, and certainly our customers that are going to bear the brunt of this tax.’” (“'Tanning Tax' In Health Care Law Has Business Owners Burning,” KING 5 [Seattle, WA], 3/26/10)
INDIANA



“Salon Owners Predict Tanners Will Cut Back On Services. As A Result Salons Fear They Will Be Forced To Lay Off Employees.” (“Tanning Salons Feel Burn By Tanning Tax,” WNDU-NBC [South Bend, IN], 3/26/10)

• “At Fun Tan They Employee A Total Of 40 People And The Owner Says They Will Likely Have To Let Some People Go From The Salon.” (“Tanning Salons Feel Burn By Tanning Tax,” WNDU-NBC [South Bend, IN], 3/26/10)


CALIFORNIA



“Sue Dickman Said It Is Hard For Small Business Owners These Days, Especially When You Own A Tanning Salon. ‘It's Going To Hurt Us, For Sure. We're Trying To Make A Living,’ Said Dickman, Owner Of Planet Beach In East Sacramento.” (“Tanning Tax Burns Salon Owners,” KXTV-ABC [Sacramento, CA], 3/26/10)

• “Dickman Isn't Pleased About A New 10 Percent Tax On Tanning, Imposed By The Federal Government To Help Pay For The New Health Care Overhaul.” (“Tanning Tax Burns Salon Owners,” KXTV-ABC [Sacramento, CA], 3/26/10)


NEVADA



“‘What They Plan On Tanning Salons Revenue To Generate They Are Way Off Base...Way Off,’ Owner Of Rio Tan In Summerlin, Gary Mills, Said. Tanning taxes is only one of the many parts of the healthcare reform bill those falling on the right side of politics are unhappy with.” (“Salon Owners Worry About New Tanning Tax Hurting Business,” KTNV-ABC [Las Vegas, NV], 3/26/10)




FLORIDA


“Struggling In A Recession, Sun Kiss Tanning In South Fort Myers Might Have To Shutter Its 10-Year-Old Salon Because Of A New 10 Percent Indoor Tanning Tax Included In The Health Care Reform Bill.” (“Southwest Florida Tanning Salons See Red,” News-Press [Fort Meyers, FL], 3/29/10)



• “‘It's Going To Come Close To Shutting Me Down,’ Said Owner JT Thomas. ‘Last month was the first month I made a profit in three years. And now we're going to pass a tax onto our customers in an economy where everybody wants to pay less. It's not good.’” (“Southwest Florida Tanning Salons See Red,” News-Press [Fort Meyers, FL], 3/29/10)


WISCONSIN


“Starting July 1, Tanning Salons Will Be Required To Slap A 10 Percent Tax On All Ultra-Violet Tanning. At Bella Sole Tan, 2719 18th St., That’s Going To Hurt. ‘It Could Impact Us In A Lot Of Ways,’ Says Co-Owner Travis Halvorsen. ‘Ninety-nine percent of our clients do UV tanning. We might lose clients. We might cut back on people’s hours. We might even have to lay people off.’” (“Tanning Tax Clouds Horizon For Salons,” Kenosha News [WI], 3/27/10)

• “‘The Taxes Are Horrible,’ Halvorsen Said. ‘I Can’t See Taxing Small Businesses Another 10 Percent, Whether I’m Going To End Up Sucking It Up Or Passing It Along To Customers.’” (“Tanning Tax Clouds Horizon For Salons,” Kenosha News [WI], 3/27/10)


“Owners Of Tanning Salons In Wisconsin Say They Are Worried About A Federal Plan To Implement A 10 Percent Tax On Indoor Tanning Services.” (“Tanning Salons Wary Of 10 Percent Tax,” UPI, 3/26/10)

• “Linda McCoy, Who Owns Tanning Salons In Middleton And Fitchburg, Wis., Said Consumers Will Likely Also Feel The Impact Of The New Tax Plan. ‘For Them To Tax Us, It's Really Going To Hurt The Small-Business Owners,’ McCoy Said. ‘That's going to have to be passed on to the consumer. We don't have enough to absorb that.’” (“Tanning Salons Wary Of 10 Percent Tax,” UPI, 3/26/10)


SOUTH CAROLINA</span> /forums/images/%%GRAEMLIN_URL%%/shocked.gif /forums/images/%%GRAEMLIN_URL%%/shocked.gif

pooltchr
03-31-2010, 08:52 PM
the Dems who supported this bill are toast....but I believe our goose may already be cooked.

Steve

cushioncrawler
03-31-2010, 09:02 PM
Now if only some genius kood invent a good cheap way of getting a suntan. Hmmmmmmmm -- thinking, thinking, thinking.
madMac.http://i663.photobucket.com/albums/uu359/Garax/sunburn.jpg

cushioncrawler
03-31-2010, 09:07 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: pooltchr</div><div class="ubbcode-body">the Dems who supported this bill are toast....but I believe our goose may already be cooked.Steve </div></div>http://i110.photobucket.com/albums/n95/i_lost_myself/goose.gifhttp://i561.photobucket.com/albums/ss56/jcz-du/Picture005-1.jpg

Sev
04-01-2010, 07:17 AM
Its going to get interesting.

Cant wait to see that unemployment number begin to rise again later this year.

Business will make a preemptive strike in order to keep their bottom line looking strong for their investors.

This will cause revenues to drop and give the Dems the opportunity to initiate the VAT tax.

At that point the Democrats will be in the crosshairs of their constituents and receive a patriot missile of truth at the ballot box.

LWW
04-01-2010, 10:10 AM
I don't disagree with any of that.

The ominous thing is that they have to know this and have no fear of it ... which is entirely unpolitician.

LWW

pooltchr
04-01-2010, 11:08 AM
That is the very thing that makes them so danderous! They don't care about the reprocussions from their activities.

The same mentality that served the Kama-Kazi pilots in WWII and the terrorists of today. If you don't fear the consequences, you are totally out of control.

I honestly believe we have the most dangerous group of politicians running Washington right now that this country has ever had.

Steve

eg8r
04-01-2010, 01:12 PM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Cant wait to see that unemployment number begin to rise again later this year. </div></div>Not sure what you mean, but I bet there are many newly unemployed that would take offense.

eg8r

Sev
04-01-2010, 02:52 PM
Well as I have not worked since late Oct. I guess I am in position to say it.

Now they have discovered an amendment to the health care bill that nobody is claiming responsibility for. Its a change in the tax code that says if companies raise their health care rates they can not participate in provisions in the new health care legislation.

So to put it in a nut shell. I want to see this president and congresses agenda completely collapse due to their total incompetence and lack of understanding of real world economics.
I want to see the populace of this country completely enraged by the lack of any positive changes both in the economy or economic conditions for Americans across the board.
I want to see all that rage and anger focused at the ballot box so that we may vote everyone of these incompetents out and completely declaw the current sitting president.

The surest road to that is to drive the unemployment number to in excess of 15% as reported by the government which would translate to about 23% unemployment.

Sometimes you have to burn down the village to save the village.

I think I have clarified my position in this matter. /forums/images/%%GRAEMLIN_URL%%/smile.gif

eg8r
04-01-2010, 03:01 PM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Well as I have not worked since late Oct. I guess I am in position to say it. </div></div>Because you are unemployed you cannot wait to see more people stuck in your position? I seriously doubt your "position" would matter at all to them.

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">I think I have clarified my position in this matter. </div></div>I think you are nuts. /forums/images/%%GRAEMLIN_URL%%/smile.gif

eg8r

pooltchr
04-01-2010, 04:22 PM
Ed, I can see what he is saying. Americans don't get motivated to do anything until it hurts. So it may very well take this kind of disaster to push them to do something about it.

Remember all the patriotism we saw after 9/11. Where did it go???

Our best hope is that Obama continues to be so bad that people get emotional about the November elections. From that standpoint, whatever it takes to get rid of them, while it may not be pleasant, may well be necessary.

Steve

Sev
04-01-2010, 04:51 PM
I am self employed. The bottom fell out of the economy and so did my work schedule.

Life is not meant to be easy nor is meant to be filled with happiness and bliss. Painful experiences give us some of our greatest lessons in life. Unfortunately today it seems we spend far to much time trying to avoid the inevitable. In doing so we compound the problem until a threshold is reached from which there is no possible escape.
We are currently on the brink of catastrophe and a major part of our government is looking skyward as they are stepping off a cliff. Unfortunately they are going to take us with them.

When people finally are suffering enough to realize its not business that is the problem with the country but rather unqualified individuals that sit in Washington they will do something about it.
That includes voting everybody out on both sides of the isle.