Monday, July 30, 2012

Obamacare medical device tax killing jobs in the industry

A prediction come true:
A funny thing happened on the way to the passage of the health care bill. Congress had to pay for it. So, they cobbled together a couple billion here, wrung from taxing small-money business investments via crippling paperwork, and a couple billion there, taken from the wallets of tanning salon denizens. One of those taxes, forecasted to bring in $29 billion over 10 years, hits the medical device industry. Congress exempted such items as contacts and eyeglasses to prevent the tax hike from touching everyday purchases, but that doesn’t mean people won’t feel the cost in other ways, as Yonkman’s story illustrates.

No comments: