Dow Jones Newswires | Caterpillar Inc. said the health-care overhaul legislation being considered by the U.S. House would increase the company's health-care costs by more than $100 million in the first year alone. In a letter Thursday to House Speaker Nancy Pelosi (D-Calif.) and House Republican Leader John Boehner of Ohio, Caterpillar urged lawmakers to vote against the plan "because of the substantial cost burdens it would place on our shareholders, employees and retirees."
Caterpillar, the world's largest construction machinery manufacturer by sales, said it's particularly opposed to provisions in the bill that would expand Medicare taxes and mandate insurance coverage. The legislation would require nearly all companies to provide health insurance for their employees or face large fines.
The Peoria-based company said these provisions would increase its insurance costs by at least 20 percent, or more than $100 million, just in the first year of the health-care overhaul program.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
You can bet your hiney those jobs are going to China or Mexico and I really cant blame Cat. Thats only 1 company... imagine how many others will follow suit. I wonder if Phil will attribute this potential move to greed?
Just how will the Demarcate party, explain the massave Job loss's
Because of the new Health care Bill.
I can hear the sucking, of amerian money, and jobs allready.
I think I will go, and barf now.
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Just how will the Demarcate party, explain the massave Job loss's
Because of the new Health care Bill.
I can hear the sucking, of amerian money, and jobs allready.
I think I will go, and barf now.
What about the over and over again pledge made by Obama that the majority will see a $3,000 decrease in their insurance premiums?
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
I hope Caterpillar will make it very clear to the effected workers why they are being let go. Legislation signed by democrats and ONLY democrats has made the American worker too expensive.
So much for being for "the little man."
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Just pass single payer, then CAT and everyone else can cancel all health coverage for their employees and let the gov't deal with it/pay for it.
Recently heard an example on the radio about toyota in the states, was considering building a plant in the US, between 3 states proposals they finally went to Canada simply to save the health care costs per vehicle, I think they said it amounted to about $2,000 per car here in the US goes to employee's healthcare.
Recently heard an example on the radio about toyota in the states, was considering building a plant in the US, between 3 states proposals they finally went to Canada simply to save the health care costs per vehicle, I think they said it amounted to about $2,000 per car here in the US goes to employee's healthcare.
Would love to see the link on that. Toyota has several plants here in the US and just recently relocated one out of CA. If you really want more you should write your congressman and ask for corporate taxes to be eliminated or at least reduced to 10%.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
Hey Sal, your number you heard doesn't even add up. Average family healthcare cost in America is just under 6k/year. If Toyota really had 2k/vehicle then it would mean hand built cars like the Rolls. I think they are assembly line built, don't you and rolling off a little quicker?
__________________
John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
Caterpillar, Helthcare bill will cost then 100 Million in the first year
