I read where Waxman and some of the other tin-pot dictators in Congress are now going to hold one of their televised witch hunts to ask why all these businesses – Deere, AT&T, 3M, etc – are announcing large non-tax charges due to Obamacare. As you noted, Obamacare changes the tax rules for Medicare Part D reimbursement; publicly-held companies are REQUIRED by accounting rules to make adjustments and REQUIRED by the SEC to announce them publicly. But Waxman and his fellow Thug-o-crats don’t like all the bad news coming out (which makes them look like the clueless chimps that they are) and so are gonna try to deflect the blame or obfuscatre the issue with some televised intimidation.
Sort of like shooting somebody and then having them arrested for laying [sic] in the street.
Saturday, March 27, 2010
"Sort Of Like Shooting Somebody And Then Having Them Arrested For Lying In The Street."
Generally accepted accounting principles are to Congress as garlic is to a wherewolf. From a comment at A.J. Strata's: