Another health care reform question....based in reality or just hot air?

[cherish44]

A person I know who is convinced that Obamacare is the end of the world forwarded me this very brief and not-back-up-with-anything article...what do you think ...BS?

http://www.bloomberg.com/apps/news?sid=aUx0HrbqlTm0&pid=20601087

[sandnsea]

1. A loophole was closed

Gibbs cleared this up about as quickly as the corporations started crying,

"This is a loophole that was created in the Medicare Part D prescription drug benefit. Businesses get a 28 percent subsidy to help cover the cost of prescription drugs. That subsidy they get from the government is now currently not counted as income. When they spend that money they currently get a deduction on that.

So basically they get a subsidy and what amounts to two deductions. Right? It’s not -- they get the subsidy that’s not counted as income, then they get to write off the spending.

This bill, our bill simply closes the loophole and allows them to deduct that money one time by not counting it as income. So I would say that to ensure that this is not something that’s done without any time period or planning, this doesn’t go into effect until 2013, which is two years later than the original Senate bill. There’s $10 billion in health care reform for support for businesses with early retirees."

[ericinne]

2. Here's more

Found this from following news from http://www.google.com/finance?client=ob&q=NYSE:DE Letter F

http://www.techjackal.net/other/2010/03/25/deere-co-expect-150-million-dollar-pricetag-for-healthcare-reform-law/