With the ink barely dry on ObamaCare socialized medicine legislation, companies are already having to consider reduced benefits for employees to pay ObamaCare’s taxes.
AT&T, Caterpillar Inc., Deere and Co., 3M and other businesses are taking accounting charges of up to $1 billion because ObamaCare slaps new taxes on drug benefits they provide. Millions of retirees could now be forced into government drug plans that they don’t want, and current workers’ benefits may be cut.
Sadly, this is only the beginning of ObamaCare’s harmful effects.