Saturday, March 27, 2010

Obamacare Making Corporate America Sick

A few months ago, we did a 3-part in-depth analysis of Obamacare.  If you find the issue complex and hard-to-fully understand, "Extra, extra, read all about it!' by clicking the following series of links: (, ( and (

I've maintained all along, and will continue to insist, that this ill-conceived piece of legislation will NEVER be enacted, unless preceeded by the complete suspension of civil rights and is MANDATED by some sort of executive order.  America not only does not want it, 36 states are suing to ENJOIN it!

This is probably the most incredible act of political suicide I think I've ever seen.  Any one voting "yea" will be voting either himself, or herself, out of office in 2010.  If you know a congressperson, send a subscription to "Marko's Take" will ya?   It's free and they might learn something!

It's been a humungously "successful" week for Democrats.  Obamacare passed Congress in its final form on Thursday night and the dividends are already being realized.  Yesterday AT&T announced that it will be forced to make a $1 billion writedown due solely to the health bill in what has become a wave of such corporate losses.

This utter unabated destruction of wealth and capital came with more than ample warning.

Using their well-lubed "spin machine" to make this new entitlement look affordable under Washington, D.C. accounting conventions, Democrats decided to raise taxes on companies that do the public service of offering prescription drug benefits to their retirees instead of dumping them into Medicare.   Democrats waved off objections from Corporate America as self-serving or "political."

Of course, Democrats are acting only in the interest of "average Americans" (sarcasm intentional!).

On top of AT&T's $1 billion, the political wrecking ball so far includes Deere & Co., $150 million; Caterpillar, $100 million; AK Steel, $31 million; 3M, $90 million; and Valero Energy, up to $20 million! Verizon has also warned its employees about its new higher health-care costs - and there will be many more in the coming days and weeks.

John DiStaso, of the New Hampshire Union Leader, reported this week that Obamacare could cost the Granite State's major ski resorts as much as $1 million in fines, because they hire large numbers of seasonal workers without offering health benefits. "The choices are pretty clear, either increase prices or cut costs, which could mean hiring fewer workers next winter," he wrote.

All this in two days?  Thank God we have Obamacare, since I, and the rest of America are about to get pretty damn sick.

Think I'm being unfair to the "well-intentioned" and "non-political" Democratic Party, our President or the Obamacare at large?  TAKE ME ON!

Marko's Take

We will be posting our next YouTube video on the legality of the Personal Income Tax in the next couple of days.  If you haven't seen some of our video blogs, we hope you take a minute to check us out at


  1. Interesting how this issue of corporate write downs has not really been played up in the media, OR mentioned by any of the talking heads. Would be interesting to see a total cost to corporate earnings on the front page of WSJ. That wont happen. Keep up the good work.

  2. Thanks Anonymous! If you're on Facebook, check out what an emotional issue this is! I incited a virtual Facebook riot!



Take me on!