Sunday, November 11, 2012

Obamacare to tax medical devices in 2013.

Haven't posted here in a while. Have been on Facebook and lost power due to the Hurricane From October 29th, 2012- November 5th, 2012. A full week without power. Did have heat as use gas heat and some light from neighbors who didn't lose electricity though so it could have been worse. Now been back on for a week and hopefully will have some posts soon some. Have a good week and election day is over and Obama won which wasn't crazy about Romey but a 2nd term of Obama does concern me when he has created a bill like Obamacare that taxes medical devices at 2.3%. Something that is a necessity for those that have a physical handicap so why tax them.

Here is what part of a fox news article on this. From the Article.

 "This 2.3 percent tax on medical device makers will raise the price of (for example) every pacemaker, prosthetic limb, stent, and operating table. Can you remind us, Mr. President, how taxing medical devices will reduce the cost of health care? The tax is particularly destructive because it is levied on gross sales and even targets companies who haven’t turned a profit yet.

These are often small, scrappy companies with less than 20 employees who pioneer the next generation of life-prolonging devices. In addition to raising the cost of health care, this $20 billion tax over the next ten years will not help the country’s jobs outlook, as the industry employs nearly 400,000 Americans. Several companies have already responded to the looming tax by cutting research and development budgets and laying off workers."

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