Caterpillar says health care bill would cost it 100M

[spidey07]

How do you kill business and destroy an economy? You hit them hard and you hit them when they are hurting, which is right now. This kind of destruction is the very purpose of the healthcare legislation, the destruction of private industry and forced government reliance.

http://www.chicagobreakingbusiness.com/2010/03/caterpillar-health-care-bill-would-cost-it-100m.html

Dow Jones Newswires | Caterpillar Inc. said the health-care overhaul legislation being considered by the U.S. House of Representatives 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.

"We can ill-afford cost increases that place us at a disadvantage versus our global competitors," said the letter signed by Gregory Folley, vice president and chief human resources officer of Caterpillar. "We are disappointed that efforts at reform have not addressed the cost concerns we've raised throughout the year."

Business executives have long complained that the options offered for covering 32 million uninsured Americans would result in higher insurance costs for those employers that already provide coverage. Opponents have stepped up their attacks in recent days as the House moves closer toward a vote on the Senate version of the health-care legislation.

A letter Thursday to President Barack Obama and members of Congress signed by more than 130 economists predicted the legislation would discourage companies from hiring more workers and would cause reduced hours and wages for those already employed.

Caterpillar noted that the company supports efforts to increase the quality and the value of health care for patients as well as lower costs for employer-sponsored insurance coverage.

"Unfortunately, neither the current legislation in the House and Senate, nor the president's proposal, meets these goals," the letter said.

 

[Slew Foot]

Who cares what people think, we're going to do what we want anyway!!

 

[PokerGuy]

Clearly, you don't understand what they will do for you. They need to explain it to you some more. You just don't get it: they know better than the people of the country, and they'll use their infinite wisdom to help us poor bumpkins. How could we ever survive without their wisdom?

Incidentally, Caterpillar is in for a world of hurt. The administration smear machine will now kick into full gear to show everyone how it's another evil corporation that must be destroyed for the good of society.

 

[Throckmorton]

It wouldn't cost them anything if they already insured all their employees. And here I thought people who were working were the ones who deserved to have health insurance.

 

[dammitgibs]

Solution: Caterpillar needs to close up shop and leave California, quit feeding the beast and let California collapse.

 

[Slick5150]

Right, and I'm sure they provided documentation of how they came up with that number?

 

[JeffreyLebowski]

It wouldn't cost them anything if they already insured all their employees. And here I thought people who were working were the ones who deserved to have health insurance.

This is EXACTLY the problem. People like you think people DESERVE to have insurance. How about people should pay their own fucking way? It's called a BENEFIT meaning an added perk of the job. It is in no way a deserved or mandated thing.

There are to many bleeding heart pansies in this country that think people DESERVE everything, instead of getting it themselves.

 

[Gonad the Barbarian]

Well clearly Caterpillar is the expert on healthcare here given their years of experience building construction equipment. And having 130 random economists sign on to something is about as profound as having 130 random lawyers sign on.

 

[Genx87]

Solution: Caterpillar needs to close up shop and leave California, quit feeding the beast and let California collapse.

I thought their HQ was in Peoria IL? I know, not much better lol

 

[Genx87]

Well clearly Caterpillar is the expert on healthcare here given their years of experience building construction equipment. And having 130 random economists sign on to something is about as profound as having 130 random lawyers sign on.

You dont think they can run a cost estimate? You dont need to be a healthcare expert to do such a thing.

 

[her209]

This is EXACTLY the problem. People like you think people DESERVE to have insurance. How about people should pay their own fucking way? It's called a BENEFIT meaning an added perk of the job. It is in no way a deserved or mandated thing.

There are to many bleeding heart pansies in this country that think people DESERVE everything, instead of getting it themselves.

Whether its a benefit or a right, sick people are still going to use it regardless of whether they have it or not.

 

[Slick5150]

This is EXACTLY the problem. People like you think people DESERVE to have insurance. How about people should pay their own fucking way? It's called a BENEFIT meaning an added perk of the job. It is in no way a deserved or mandated thing.

There are to many bleeding heart pansies in this country that think people DESERVE everything, instead of getting it themselves.

Good lord your version of America would suck hard.

 

[IndyColtsFan]

Well clearly Caterpillar is the expert on healthcare here given their years of experience building construction equipment.

Yeah, because they surely must have their bulldozer construction guys crunching their numbers for them or something.

 

[Patranus]

Well clearly Caterpillar is the expert on healthcare here given their years of experience building construction equipment. And having 130 random economists sign on to something is about as profound as having 130 random lawyers sign on.

Do you really think someone can build a 3 billion dollar company without knowing how to estimate costs?

 

[Gonad the Barbarian]

Actually I misread the article, I didn't see that it was a cost prediction for just themselves. My second point still stands though.

 

[Patranus]

Actually I misread the article, I didn't see that it was a cost prediction for just themselves. My second point still stands though.

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.

---

 

[Gonad the Barbarian]

Yeah, a portion of this article was posted in another thread, misread it there, didn't bother commenting until I saw it had it's own thread.

 

[dmcowen674]

This is EXACTLY the problem. People like you think people DESERVE to have insurance. How about people should pay their own fucking way? It's called a BENEFIT meaning an added perk of the job. It is in no way a deserved or mandated thing.

There are to many bleeding heart pansies in this country that think people DESERVE everything, instead of getting it themselves.

Since you and Cat don't like it you both are free to leave.

 

[IndyColtsFan]

Since you and Cat don't like it you both are free to leave.

Brilliant. A multi-billion dollar company releasing its analysis of costs and all you can say is, "Leave!" Absolutely brilliant! By the way, who would hire the thousands of people who would lose their jobs as a result of them leaving? Who would pay for their health care? That's right, YOU (assuming you have a job) and ME.

Enjoy it while you can -- the next time you're unemployed and can't find anything because of the burden this imposes or the next time you see your taxes go up because of this idiocy, remember your posts here. You asked for it!

 

[Patranus]

Brilliant. A multi-billion dollar company releasing its analysis of costs and all you can say is, "Leave!" Absolutely brilliant! By the way, who would hire the thousands of people who would lose their jobs as a result of them leaving? Who would pay for their health care?

Its more like 100,000 people but lets not let reality/logic get in the way of the "progressives".

 

[IndyColtsFan]

Its more like 100,000 people but lets not let reality/logic get in the way of the "progressives".

Reality and logic are two words that don't seem to be in Dave's lexicon. :awe:

 

[dmcowen674]

Brilliant. A multi-billion dollar company releasing its analysis of costs and all you can say is, "Leave!" Absolutely brilliant! By the way, who would hire the thousands of people who would lose their jobs as a result of them leaving? Who would pay for their health care? That's right, YOU (assuming you have a job) and ME.

Enjoy it while you can -- the next time you're unemployed and can't find anything because of the burden this imposes or the next time you see your taxes go up because of this idiocy, remember your posts here. You asked for it!

You don't get it, you never do.

When they leave, they also get free Health care in the country they move to. Leaving you alone in the U.S.

You should be thrilled.

 

[marincounty]

How much do they spend lobbying Congress every year?

 

[ccbadd]

Since you and Cat don't like it you both are free to leave.

What a stupid dick.. We were born here and have the right to protect our way of life. No, these lib ass's are trying to pass a bill without voting on it, one that could not actually pass either house TODAY, against the will of the American people, and some dumb ass on a forum tells them they should leave the country! Why don't you get you and your like minded idiots on a boat, plain, whatever and join your kind in Cuba, France, Spain, where ever and leave our country alone!!!

 

[IndyColtsFan]

You don't get it, you never do.

When they leave, they also get free Health care in the country they move to. Leaving you alone in the U.S.

You should be thrilled.

No, you're the one who NEVER gets it. If all the big companies leave, who do you work for? How do you support yourself? On second thought, maybe that would be your dream scenario since you seem to want government handouts everywhere.

And by the way, the health care is NOT "free." Those people who actually work foot the bill through taxes.