Caterpillar: Health care bill would cost it $100M

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.

States are against it. Companies are against it. What say you?

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Asked by grlygrlz2 at 1:07 PM on Mar. 19, 2010 in Politics & Current Events

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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.

Answer by grlygrlz2 at 1:08 PM on Mar. 19, 2010
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I'm for it :)

Answer by Anouck at 1:15 PM on Mar. 19, 2010
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I am sooo AGAINST this POS B/S bill that will kill us.

Answer by 29again at 1:24 PM on Mar. 19, 2010
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So you are FOR companies reducing hours and wages to fund Obamalosi Care, huh? Wow.. At least you are honest about hurting jobs in the US..

Answer by grlygrlz2 at 1:28 PM on Mar. 19, 2010
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I think it's stupid. I can barely find a job as it is and once this bill is passed I sure as hell won't find one then.

Answer by alexa_n_mommy at 1:47 PM on Mar. 19, 2010
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If companies don't hire, unemployment will continue. If unemployment continues, the government will be paying out more in benefits and PA than it collects in taxes. The government then has to raise taxes, which adds more burden to those who are still working. Companies increase their prices or lay off employees to make up for the higher taxes, increasing unemployment and inflation. It's a never-ending downward spiral.

Answer by mancosmomma at 1:50 PM on Mar. 19, 2010
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I'm for the health bill... Do I believe it would cause companies to reduce hours and wages? No, I don't. The question was, are you for or against the health bill. And like I said, I'm for it. You can rant and rave and call me every name in the book, won't change my mind one bit. Have a nice day :)

Answer by Anouck at 1:53 PM on Mar. 19, 2010
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Caterpillar should have thunk about all this BEFORE letting him talk at their site and making speeches. Instead, they should have told him NO, you may not stump at our site.

http://abcnews.go.com/Politics/story?id=6866995&page=1

Are they so stupid to not realize by letting him stump there, they were helping him? Losing credibility in my opinion, letting the Jackass make appearances there and then talking against what he said he was going to do a LONG TIME AGO.

Answer by jewjewbee at 2:03 PM on Mar. 19, 2010
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Who called you a NAME Anouk? Good god almighty.

Answer by momof030404 at 2:57 PM on Mar. 19, 2010
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Guaranteed they'll be moving at least one of the plants to Mexico. They already liquidated staff at their warehouse space in Plainfield.

Answer by NotPanicking at 3:40 PM on Mar. 19, 2010
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