Liberal and progressive hero Elizabeth Warren signs letter in support of trickle down economics
On November 8, 2012, it was reported that in response to the medical device tax that is part of Obamacare, some medical device manufacturers had announced plans to layoff employees, including Welch Allyn (275 planned layoffs), Stryker (1,170 planned layoffs), and Medtronic (1,000 planned layoffs).
On December 4, 2012, Elizabeth Warren joined Al Franken, John Kerry, and 15 other Democratic U.S. Senators in signing a letter to Harry Reid, asking him to delay the tax on medical devices, claiming that the tax would hurt job creation in their districts. The letter can be read here.
I think it’s great that Warren has come out in favor of trickle down economics, and I am glad that several of her Democratic colleagues have also embraced the position.
Unfortunately, the medical device tax is still in existence, and continues to wreak havoc. On February 18, 2014, it was reported that the medical device tax had destroyed 14,000 jobs, and had prevented an additional 19,000 new jobs from being created.