Henry Taxman Waxman must never have heard of Sarbanes-Oxley. Right after Obamanable-Care was passed, CEO's around the country started to finalize the ramifications this horrendous bill would have on their bottom line. Any time there is a significant material change in a company's finances because of internal or external circumstances (like new laws or regulations), the companies must let the Securities and Exchange Commission know. This law was implemented after the ENRON fiasco.

A T & T anticipates a $1 billion hit to its bottom line because of Obamanable-Care.

In a letter to the Chairman of A T & T,  the dishonorable Mr. Waxman started his letter with:

"On March 23, 2010, President Obama signed health care reform into law. One of the top priorities of the House Energy and Commerce Committee will be to ensure that the law is implemented and does not have unintended consequences." (Italics for emphasis.)

He then chastised the Chairman for considering changes to A T & T's active and retiree health care benefits.

Waxman then asserted: "The new law is designed to exand coverage and bring down costs, so your assertions are a matter or concern."

So naturally, he has summoned several CEO's, including the A T & T Chairman, to Washington to a show trial on April, 21, 2010, And, of course, he has been asked to bring thousands of copies of e-mails and reports about accounting methods used going back to 2003. Maybe Mr. Waxman should just ask for copies of the Annual Reports and the 10-K's. But, that would be too easy.

Here's hoping the A T & T Chairman brings a UPS truck full of documents to the show trial. It would be a beautiful sight to see over a million pages of A T & T Saxbanes Oxley documents dumped onto the little dictator's podium.

Henry Taxman Waxman,..now I know why there is a clown tax. Change...not in Henry Taxman's committees. Henry wakes up every morning trying to figure out how he can make life miserable for big business.



Yes, there is really a clown tax. Next up, a Congressional stupidity tax?