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How many jobs is $150 million?

Discussion in 'Political Discussion' started by khayos, Mar 25, 2010.

  1. khayos

    khayos Rookie

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    DEERE SAYS NEW HEALTH CARE REFORM LAW WILL INCREASE 2010 EXPENSE BY $150 MILLION AFTER-TAX

    MOLINE, Illinois (March 25, 2010) — Deere & Company announced today that the Patient Protection and Affordable Care Act signed into law this week will adversely impact its expenses for fiscal 2010. As a result of the legislation, the company's expenses are expected to be about $150 million higher on an after-tax basis, primarily in the second quarter. This impact was not included in the 2010 outlook for net income attributable to Deere & Company of approximately $1.3 billion disclosed in the company's first-quarter earnings report on February 17th.
  2. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    Last edited: Mar 25, 2010
  3. khayos

    khayos Rookie

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    I can't believe you just offered that up. We all know that's not the case.
  4. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    Did you check out the financial report for JD..
  5. Wolfpack

    Wolfpack Banned

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    Where does that report mention executive compensation? I couldn't find it.
  6. atomdomb

    atomdomb Rookie

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    Caterpillar said it would cost them 100 million. Lots of jobs could be lost with this bill.
  7. FreeTedWilliams

    FreeTedWilliams pfadmins PatsFans.com Supporter

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    #75 Jersey

    Well we do know that any small business with anywhere close to 30 employees is definately going to reduce that number to below thirty (the level in which the fines start). Now how many jobs that get cut (or not created, because that is how Obama counts jobs) because of this socialism is going to be staggering. Basically every fastfood resturant, most resturants for that matter have around 30 employees. Being as they are all (Even the franchises) considered to be single entities, all of them will stay below the magic 30 number (that is alot of jobs lost (or not created). Every small construction/service company will also stay below thrity employees. That is right off the top of my head, I'm sure other people can chime in with other businesses that they have knowldeg of.
  8. Wolfpack

    Wolfpack Banned

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    My experience is purely anecdotal and I have no idea if it represents any sort of national trend, but what I am seeing more and more of is 9-to-5 Contract Workers. Meaning a guy who works regular hours full time just like any other employee but technically exists on the books as a "self employed independant contractor." This way the company just gets to wipe their hands clear of the messy process which is benefits.

    I have to say I have to understand the company's standpoint from where they are coming from. It sure seems to me that it saves a heck of a lot of hassle.
    Last edited: Mar 25, 2010
  9. Patters

    Patters Moderator Staff Member PatsFans.com Supporter

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    Who cares about Deere? Their profit drops from $1.3 billion to $1.15 billion. They'll get by. Besides, this charge is the result of closing a loophole, at least according to the White House:

    Industries warn health reform will cost them - MarketWatch

    "The change in how businesses account for the subsidy closed a loophole created in the Medicare Part D prescription drug benefit that allowed two tax write offs, according to White House Press Secretary Robert Gibbs."

    As far as how many jobs $150 billion can create, not as many as the $980 billion health care bill.
    Last edited: Mar 25, 2010
  10. Wolfpack

    Wolfpack Banned

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    Yeah! Who cares about industry? F*ck 'em! I mean, it's not like they contribute anything worthwhile to society like jobs or products, right? Right? Oh, wait...
  11. Patters

    Patters Moderator Staff Member PatsFans.com Supporter

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    They're still going to have profits of $1.15 billion. They'll be okay.
  12. Wolfpack

    Wolfpack Banned

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    Here's what you liberals consistently miss and I have tried explaining it to you time and again but you remain willfully ignorant:

    1) It is a logical fallacy to assume you can tax someone to the tune of $150 million and assume everything else will remain the same. This is the biggest problem with liberals. For some reason I just cannot fathom, they don't believe raising taxes will alter behavior.

    You notice they've made $1.3 billion so that's money you feel entitled to just grab as much as you want and redistribute it in accordance with your socialist policies. Then you shrug your shoulders and say "they're still going to have profits of $1.15 billion. They'll be okay." And you foolishly assume they are just going to gladly hand over the money and not do a darn thing to change their company to minimize their losses.

    2) Sure, I'll grant you that one way or another, Deere will survive as an ongoing entity. Some people will certainly lose jobs, but to hell with them, right? So what about those corporations that are just barely getting by? Think they can take on a $150 million expense?
  13. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    Well you make 250,000 + :rolleyes: so thats ahh 600 ...not that many i guess :singing:
    Last edited: Mar 25, 2010
  14. Michael

    Michael Moderator Staff Member PatsFans.com Supporter

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    #12 Jersey

    Zoll Medical Corp in Chelsmford is another perfect example of another business hurt by higher taxation. Obama and leftists don't care about jobs or helping working people.

    The tax on medical devices will hurt businesses like Zoll Medical Corporation which employs 1,600 people in the U.S. The tax hikes could mean job cuts for the company as Byron York wrote on March 23.
    "We believe that the tax will cost us somewhere between $5 million and $10 million a year," Richard Packer, Zoll's chairman and chief executive officer told York. "Our profit in 2009 was $9.5 million."


    Media Fail to Expose Health Care Bill as Job Killer, Violation of Obama's Tax Pledge | NewsBusters.org
  15. Holy Diver

    Holy Diver Rookie

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    #80 Jersey

    Ladies and gentelmen....

    MATH!
  16. Holy Diver

    Holy Diver Rookie

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    #80 Jersey

  17. Wolfpack

    Wolfpack Banned

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    Well if we apply Patters' logic:

    They're still going to have profits of negative $500,000. They'll be okay.
  18. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    Last edited: Mar 25, 2010
  19. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    My nephew in WI works as a diesel mechanic repairing Deere Farm eq, He will care, it will hurt his ability to support his family.
  20. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    This is just the Haalth care component, then there is cap and trade, and increased corp taxes. The farmers will have less $$$$ to spend buying their eq, due to increased energy cost, the corp will have less profits to spend growing their business, fewer jobs.


    Libs have never understood the child's story of the Goose that laid the Golden Eggs, they always want to kill the goose.

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