I have written in these pages that man’s thirst for power over other men is without limit.  Hypberole, you say; but the statists in Congress continue to demonstrate this truth on a daily basis.

Within a week after passage of the health care law, Caterpillar, Verizon, AT&T, John Deere, Valero Energy, AK Steel, and 3M announced massive write-downs due to new taxes and regulatory burdens.  This is rather basic accounting stuff:  taxes go up, regulations increase, company costs go up.  In fact, disclosures such as these are required of public companies by the SEC.

But Henry Waxman, bless his heart, is concerned.  The Chairman of the House Committee on Energy and Commerce wrote ominously to the CEOs:  “The new law is designed to expand coverage and bring down costs, so your assertions are a matter of concern.”  Apparently because Congress “designed” it that way, it shall be so.

Waxman has ordered the companies to explain their inconvenient defiance at an April 21 hearing.  He has also demanded internal e-mails and other documents related to the companys’ public statements regarding health care costs.  The message is clear:  Do not make Lord Waxman concerned.

Read additional stories here and here.

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