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AOL says Obamacare is forcing it to cut back on 401(k) plan benefits

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    AOL says Obamacare is forcing it to cut back on 401(k) plan benefits

    Does anyone really believe these asshole CEOs when they come out with this shit?
    IBM made the first move as to this end of the year 401k matching payout.
    These assholes want to be able to capture deferred 401k capital by laying off employees prior to the end of the year and apply that capital to increasing end of year executive bonuses and increasing executive deferred stock option grants.


    "AOL Chairman and Chief Executive Tim Armstrong told CNBC Thursday that Obamacare is creating $7.1 million in additional expenses, forcing the company to find ways to trim costs elsewhere."

    http://blogs.marketwatch.com/health-...plan-benefits/

    By Russ Britt

    Because of cutbacks brought on by Obamacare, AOL Inc. has said it will make cutbacks to its employees retirement benefits, offering only one lump-sum matching contribution to its employees 401(k) plans at the end of the year.



    Shutterstock

    The new policy, outlined in AOL's plan description, means that employees would leave thousands of dollars of matching funds on the table if they leave the company before the end of the calendar year. Employees who aren't with AOL on Dec. 31 will miss out on matching funds for that calendar year, regardless of their departure date.


    AOL Chairman and Chief Executive Tim Armstrong told CNBC Thursday that Obamacare is creating $7.1 million in additional expenses, forcing the company to find ways to trim costs elsewhere.


    The Washington Post first reported in its WonkBlog that the company changed its policy, following the example of IBM Corp. IBM , which adopted a similar policy in 2012.
    Most employers offer to match funds with each paycheck if an employee contributes more than a certain threshold percentage of his or her salary to a 401(k) plan.
    But the lump sum means employees will miss out on compounding interest and stock market rallies, like the protracted rally that boosted retirement account balances last year.

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    And they will get their bonuses for their creative thinking to boost profits artificially and start killing the company in the long term.
    If gunners were as violent as anti-gunners believe, logically there wouldn't be any anti-gunners left.

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    Remember when the 2008 economic downturn started US large firm laid off far more workers than was needed in order to keep profits high which is why US large firms saw profits INCREASE by 100% in 2008-2010 while their foreign counterparts had losses of the same.

    They look for reasons to pass the buck time and time again.
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

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    Quote Originally Posted by LAM View Post
    Remember when the 2008 economic downturn started US large firm laid off far more workers than was needed in order to keep profits high which is why US large firms saw profits INCREASE by 100% in 2008-2010 while their foreign counterparts had losses of the same.

    They look for reasons to pass the buck time and time again.
    and what's wrong with that? you do realize companies are in business to make profits right?
    -S-

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    Quote Originally Posted by Swiper View Post
    and what's wrong with that? you do realize companies are in business to make profits right?
    Then stop complaining about the unemployment and labor force participation rates, you can't have it both ways.

    If you have no problem with the concentration of wealth in the US, you lose the right to complain about the lagging economy, the social safety net and the rise of the police state.
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

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    Quote Originally Posted by LAM View Post
    Then stop complaining about the unemployment and labor force participation rates, you can't have it both ways.

    If you have no problem with the concentration of wealth in the US, you lose the right to complain about the lagging economy, the social safety net and the rise of the police state.
    I complain about it because govts monetary policy, regulation and taxation are to blame. but you'll never acknowledge it because you hail the state as the all mighty over your life.
    -S-

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    Quote Originally Posted by Swiper View Post
    I complain about it because govts monetary policy, regulation and taxation are to blame. but you'll never acknowledge it because you hail the state as the all mighty over your life.
    Those policies are the way they are because that is what business wants.
    If gunners were as violent as anti-gunners believe, logically there wouldn't be any anti-gunners left.

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    Quote Originally Posted by Swiper View Post
    I complain about it because govts monetary policy, regulation and taxation are to blame. but you'll never acknowledge it because you hail the state as the all mighty over your life.
    I don't acknowledge your non-facts because I spend more time studying economics in a 2 week period then you have your entire life.

    And for the 1,000th time the US government doesn't dictate monetary policy. If you think simply because the Fed Chairman and Board of Governors are chosen by the executive branch you might want to actually learn what the BIS and FSB does. Here's a hint, they dictate policy to the global federal reserve system but of course you didn't know that because you don't read squat.
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

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    Here we have the case of Tim Armstrong who is the CEO of AOL with a net worth of 400 million dollars and the wealthy executives and the board of directors of AOL waging class warfare against workers that are at a lower economic class than they are.

    Fuck the problem of workers not having enough money for retirement and the problem of the taxpayers and government going broke from government socialist retirement entitlement taxpayer funded programs like Social Security and Medicare.

    What is important to this 400 million dollar asshole CEO the wealthy executives and the board of directors of AOL is maintaining the 150 million dollars in AOL stock buybacks that they would have had to reduce to keep funding the employee monthly 401k matching program.

    Buybacks that benefit this 400 million dollar asshole CEO and the wealthy executives and the board of directors of AOL due to the increase in the value of stock options they own due to stock buybacks and other forms of financial engineering.
    These assholes receive huge levels of compensation in the form of stock options grants and they are going to fuck their employees over to ensure that they remain at the top of the economic ladder.

    http://www.foxbusiness.com/technolog...-plan-by-150m/


    AOL Boosts Stock Buyback Plan By $150M

    By Matt Egan
    Published July 08, 2013
    FOXBusiness

    This ties into the issue of escalating rates of income inequality.


    My favorite part of the whole concentration of wealth income inequality issue is the whole trickle down bullshit current argument related to reducing corporate taxes will stimulate hiring and stimulate the economy.
    Based on the last time that companies were given a tax holiday they will increase stock buybacks instead of increasing hiring.

    What that does is increase income inequality as that capital flows to the top economic wealthy and investor classes who based on economic data are not using it to create middle class level jobs with benefits , deploy the capital in increased raises and benefits to the middle class or spend it and stimulate the economy aka. trickle it down.

    Middle class incomes have been stagnant for a generation.
    Here is a link to an older article that illustrates the problem.

    http://money.cnn.com/2011/02/16/news.../middle_class/





    The majority of the jobs created since 2008 have been low paying low or no benefit service jobs.
    This winner take all Darwin economic survival of the fittest mentality is going to eventually bite these people at the top of the economic ladder in the ass.

    Corporations ripping the guts out of the middle class by reducing what they pay workers reduces workers disposable incomes.
    Those workers have less money to buy the goods and services that corporations produce.

    Doing all of this to increase corporate profits in-order to increase capital flow transfers to the top is self destructive activity by corporations and the wealthy and investor classes.
    These people cannot see past the greed sitting right in front of their faces.
    Last edited by Bowden; 02-08-2014 at 06:53 AM.

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    Insider stock option transactions at AOL.


    http://finance.yahoo.com/q/it?s=AOL+...r+Transactions

    This illustrates why AOL is reducing the 401k monthly matching program.
    It's related to how a company deploys cash flows.

    They are doing it to maintain the executive stock option grant values that are related to the 150 million dollar AOL stock buyback program.
    Stock buybacks increase executive stock option grant values.
    Buybacks maintain and boost stock prices.

    These executives are operating in their own best self interest and the interests of the investors in AOL stock and that requires fucking over AOL employees by reducing the employee 401k matching benefit.
    IBM was the model for this AOL financial engineering.
    You can expect this type of financial engineering to expand to other companies and it is going to increase the problem of people having enough money saved up for retirement and being highly dependent on taxpayer and government debt funded Social Security and Medicare..
    Last edited by Bowden; 02-08-2014 at 07:15 AM.

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    AOL says Obamacare is forcing it to cut back on 401(k) plan benefits

    CBO: Obamacare Is A Tax On Work, May Cut Full-Time Workforce By 2.5 Million

    http://www.forbes.com/sites/scottgot...-wage-workers/

    Budget office chief: ObamaCare creates ?disincentive? to work
    Last edited by Swiper; 02-08-2014 at 12:09 PM.
    -S-

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    BS political spin. Your Grandpa, Grandma, old ass Aunt & Uncle who were forced to work their menial jobs just so they can have healthcare and be able to visit a doc without going bankrupt.

    GD! now these people can retire and enjoy their golden years, like we are supposed to.

    MAY? cut full time workforce by 2.5 mil...

    Gimme a break.

    If anything it's time for another revolt against these white greedy ass old men, who want to tax you for any and everything...just like King George.



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    Quote Originally Posted by IronAddict View Post

    If anything it's time for another revolt against these white greedy ass old men, who want to tax you for any and everything...just like King George.
    Fuck yes!
    If gunners were as violent as anti-gunners believe, logically there wouldn't be any anti-gunners left.

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    White House Announces It's Delaying Obamacare Employer Mandate AGAIN!

    http://www.theblaze.com/stories/2014...mandate-again/


    another acknowledgment from the Obama admin. that obamacare is bad for business.
    -S-

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    Quote Originally Posted by Swiper View Post
    White House Announces It's Delaying Obamacare Employer Mandate AGAIN!

    http://www.theblaze.com/stories/2014...mandate-again/


    another acknowledgment from the Obama admin. that obamacare is bad for business.
    Nowhere does it say it's bad for business. Did you even read it?
    If gunners were as violent as anti-gunners believe, logically there wouldn't be any anti-gunners left.

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    Quote Originally Posted by Swiper View Post
    White House Announces It's Delaying Obamacare Employer Mandate AGAIN!

    http://www.theblaze.com/stories/2014...mandate-again/


    another acknowledgment from the Obama admin. that obamacare is bad for business.
    im guessing to sometime in 2016-2017? don't want to hurt Hillary's chances..

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    Guys, please cool it on the flaming. We can have a debate without the name calling.

    Thanks




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    Quote Originally Posted by heavyiron View Post
    Guys, please cool it on the flaming. We can have a debate without the name calling.

    Thanks



    -S-

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    What this country lacks is not enough big players that are privately owned...too many hands in the cookie jar so too speak...there are private companies with annual revenues of over a billion dollars in the US..and there are companies who fall into that bracket that haven't cut 401k matches...havnt cut there workforce...and some have even raised compensation in the face of Obamacare....and are self insured.....its called responsibility...and owning the processes that got you that successful..

    Why?...they have one hand in the cookie jar...
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    From examining the charts and text in the Congressional report it is found that the primary stock holders in those banks are:

    1. Rothschild's of London and Berlin

    2. Lazard Brothers of Paris

    3. Israel Moses Seaf of Italy

    4. Kuhn, Loeb & Co. of Germany and New York

    5. Warburg & Company of Hamburg, Germany

    6. Lehman Brothers of New York

    7. Goldman, Sachs of New York

    8. Rockefeller Brothers of New York

    * so once again Swiper you are wrong because your just to dam lazy to ever read anything that actually takes any effort.
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

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    The U.S. Congress established three key objectives for monetary policy in the Federal Reserve Act:

    Its duties have expanded over the years, and today, according to official Federal Reserve documentation, include conducting the nation's monetary policy, supervising and regulating banking institutions, maintaining the stability of the financial system and providing financial services to depository institutions, the U.S. government, and foreign official institutions.

    The authority of the Federal Reserve System is derived from statutes enacted by the U.S. Congress and the System is subject to congressional oversight.

    The federal government sets the salaries of the Board's seven governors.

    the Federal Reserve system has both public and private aspects.

    The Federal Reserve System has a "unique structure that is both public and private"[54]and is described as "independent within the government" rather than "independent of government".[55] The System does not require public funding, and derives its authority and purpose from the Federal Reserve Act, which was passed by Congress in 1913 and is subject to Congressional modification or repeal.[56]
    The four main components of the Federal Reserve System are (1) the Board of Governors, (2) the Federal Open Market Committee, (3) the twelve regional Federal Reserve Banks, and (4) the member banks throughout the country.
    .................................................. .................................................. .................................................. ..........................


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    Quote Originally Posted by Swiper View Post
    The U.S. Congress established three key objectives for monetary policy in the Federal Reserve Act:

    Its duties have expanded over the years, and today, according to official Federal Reserve documentation, include conducting the nation's monetary policy, supervising and regulating banking institutions, maintaining the stability of the financial system and providing financial services to depository institutions, the U.S. government, and foreign official institutions.

    The authority of the Federal Reserve System is derived from statutes enacted by the U.S. Congress and the System is subject to congressional oversight.

    The federal government sets the salaries of the Board's seven governors.

    the Federal Reserve system has both public and private aspects.

    The Federal Reserve System has a "unique structure that is both public and private"[54]and is described as "independent within the government" rather than "independent of government".[55] The System does not require public funding, and derives its authority and purpose from the Federal Reserve Act, which was passed by Congress in 1913 and is subject to Congressional modification or repeal.[56]
    The four main components of the Federal Reserve System are (1) the Board of Governors, (2) the Federal Open Market Committee, (3) the twelve regional Federal Reserve Banks, and (4) the member banks throughout the country.
    .................................................. .................................................. .................................................. ..........................


    Are you starting to understand yet?
    ^^^^^^^^^
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    http://www.frbsf.org/education/publi...ic-corporation

    Halfway down the page explains who controls the fed.
    If gunners were as violent as anti-gunners believe, logically there wouldn't be any anti-gunners left.

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    http://www.federalreserve.gov/faqs/about_14986.htm

    Who owns the Federal Reserve?

    The Federal Reserve System fulfills its public mission as an independent entity within government. It is not "owned" by anyone and is not a private, profit-making institution.

    As the nation's central bank, the Federal Reserve derives its authority from the Congress of the United States. It is considered an independent central bank because its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government, it does not receive funding appropriated by the Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms.

    However, the Federal Reserve is subject to oversight by the Congress, which often reviews the Federal Reserve's activities and can alter its responsibilities by statute. Therefore, the Federal Reserve can be more accurately described as "independent within the government" rather than "independent of government."

    The 12 regional Federal Reserve Banks, which were established by the Congress as the operating arms of the nation's central banking system, are organized similarly to private corporations--possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

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    Quote Originally Posted by LAM View Post
    The 12 regional Federal Reserve Banks, which were established by the Congress as the operating arms of the nation's central banking system, are organized similarly to private corporations--possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.
    And who owns this stock since it's not the US government?

    1. Rothschild's of London and Berlin

    2. Lazard Brothers of Paris

    3. Israel Moses Seaf of Italy

    4. Kuhn, Loeb & Co. of Germany and New York

    5. Warburg & Company of Hamburg, Germany

    6. Lehman Brothers of New York

    7. Goldman, Sachs of New York

    8. Rockefeller Brothers of New York
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

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    http://www.frbsf.org/education/publi...ic-corporation


    Structure

    Congress set up the Federal Reserve System to make it autonomous and to isolate it from day-to-day political pressures. For example, the members of the Board of Governors are appointed to serve 14-year terms that do not coincide with presidential terms. Key components of the Federal Reserve System are:

    The Board of Governors?Located in Washington, D.C., Board members are appointed by the U.S. President and confirmed by the U.S. Senate. Board members and staff are civil service employees.

    The 12 regional Reserve Banks?Located around the country, the 12 Federal Reserve Banks are chartered as private corporations. Employees are not civil service.

    The Federal Open Market Committee (FOMC)?Composed of the Federal Reserve Governors and the Federal Reserve Bank presidents, the FOMC is charged with conducting monetary policy.

    The 12 Federal Reserve Banks operate like other businesses; each has its own board of directors that selects the Reserve Bank president and first vice president, with approval from the Board of Governors. Each Branch of a Reserve Bank has its own board of directors. A majority of these directors are appointed by the Branch?s Reserve Bank; the others are appointed by the Board of Governors.

    Boards of directors of the Reserve Banks and their Branches provide the Federal Reserve System with a wealth of information on economic conditions in every corner of the nation. The information, along with other sources, is used by the FOMC and the Board of Governors when reaching decisions about monetary policy.
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

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    http://www.factcheck.org/2008/03/fed...ank-ownership/

    Q: Who owns the Federal Reserve Bank?

    A: There are actually 12 different Federal Reserve Banks around the country, and they are owned by big private banks. But the banks don?t necessarily run the show. Nationally, the Federal Reserve System is led by a Board of Governors whose seven members are appointed by the president and confirmed by the Senate.

    FULL ANSWER

    The stockholders in the 12 regional Federal Reserve Banks are the privately owned banks that fall under the Federal Reserve System. These include all national banks (chartered by the federal government) and those state-chartered banks that wish to join and meet certain requirements. About 38 percent of the nation?s more than 8,000 banks are members of the system, and thus own the Fed banks.

    The concept of "ownership" needs some explaining here, however. The member banks must by law invest 3 percent of their capital as stock in the Reserve Banks, and they cannot sell or trade their stock or even use that stock as collateral to borrow money. They do receive dividends of 6 percent per year from the Reserve Banks and get to elect each Reserve Bank?s board of directors.

    The private banks also have a voice in regulating the nation?s money supply and setting targets for short-term interest rates, but it?s a minority voice. Those decisions are made by the Federal Open Market Committee, which has a dozen voting members, only five of whom come from the banks. The remaining seven, a voting majority, are the Fed?s Board of Governors who, as mentioned, are appointed by the president.

    The Fed is a little defensive about the question of ownership. In its Frequently Asked Questions section, the Federal Reserve Board says: "The Federal Reserve System is not ?owned? by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects." It continues:

    Federal Reserve Board: As the nation?s central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms. However, the Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as "independent within the government."

    The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation?s central banking system, are organized much like private corporations?possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.

    -Brooks Jackson
    Sources

    Board of Governors of the Federal Reserve System. ?The Federal Reserve Structure Tour,? undated document accessed 21 March 2008.

    Board of Governors of the Federal Reserve System. ?Frequently Asked Questions: Who Owns The Federal Reserve,? Web site accessed 21 March 2008.

    * Don't you get tired of being wrong about everything Swiper? It helps if you actually read things from start to finish vs scanning them or not reading them at all.
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

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    AOL says Obamacare is forcing it to cut back on 401(k) plan benefits

    ObamaCare pumps up taxes on gym-goers - WNYW:

    Some people who are members of the health club Planet Fitness are finding their membership costs have gone up because of [ObamaCare]?A sign posted at a Falls Church, Va. location says ?Holders of Black Card memberships will be required to pay a tax on these memberships Starting January 1, 2014 as required by the implementation of provisions of [ObamaCare]?This is not a change in your membership fee but rather a tax required by the government. The reason these accounts are forced to charge the new tax is because they include the option for members to tan at the clubs. Obamacare has a tax on tanning salons. It doesn't matter if the member uses or does not use the tanning facilities.?





    THOUGHT POLICE: FIRMS MUST SWEAR OBAMACARE NOT A FACTOR IN FIRINGS

    Is the latest delay of ObamaCare regulations politically motivated? Consider what administration officials announcing the new exemption for medium-sized employers had to say about firms that might fire workers to get under the threshold and avoid hugely expensive new requirements of the law. Obama officials made clear in a press briefing that firms would not be allowed to lay off workers to get into the preferred class of those businesses with 50 to 99 employees. How will the feds know what employers were thinking when hiring and firing? Simple. Firms will be required to certify to the IRS ? under penalty of perjury ? that ObamaCare was not a motivating factor in their staffing decisions. To avoid ObamaCare costs you must swear that you are not trying to avoid ObamaCare costs. You can duck the law, but only if you promise not to say so.
    -S-

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    If you're dumb enough to go to Planet Fitness you should be taxed...


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