In other words: A discussion of The Bush Administration
Bush Acts to Reward Companies Who Cut off Seniors' Drug Coverage
Late last year, President Bush promised retirees that "if there's a Medicare reform bill signed by me, corporations have no intention to dump retirees [from their existing drug coverage]...What we're talking about is trust."1 The White House and its congressional allies backed up Bush's assertion by claiming the bill included a special tax subsidy to "encourage employers' to retain prescription-drug coverage" for their retirees' and not to cut them off.2
But just three months after Bush's pledge, the Wall Street Journal now reports that the White House quietly added "a little-noticed provision" to the bill that allows companies to severely reduce - or almost completely terminate - their retirees' drug coverage "without losing out on the new subsidy."3 In other words, the president did not just break his promise to sign a bill that prevents seniors from losing their existing drug coverage. He actually acted to reward companies who cut off their retirees with a lavish new tax break.
Just another day living under the kakistocracy. (actual definition: Government by the least qualified or most unprincipled citizens)
- rob 2:01 PM - [PermaLink] -
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