Skip to comments.Obamacare tax increases could lead to massive layoffs
Posted on 11/17/2012 1:45:54 PM PST by 2ndDivisionVet
The reelection of Pres. Barack Obama has basically killed the momentum to overturn Obamacare. Now businesses are scrambling to deal with the 20 or more higher taxes as a result of the legislation, ranging from a $123 billion surtax on investment income to the $20 billion medical device tax.
A number of companies have announced layoffs as a result of the new taxes associated with the health care law.
Welch Allyn, a company that manufactures medical diagnostic equipment in New York, announced a layoff of 275 employees, about 10 percent of their workforce, over the next three years.
Dana Holding Corp., a global auto parts manufacturing company in Ohio, warned of $24 million in cuts over the next six years due to additional U.S. health care expenses.
Stryker, one of the biggest medical device manufacturers in the world, is eliminating 96 jobs in December and more worldwide.
Boston Scientific announced it is cutting anywhere from 1,200 to 1,400 jobs and shifting investments and workers overseas.
Medtronic, a medical device maker, cut 500 jobs over the summer and plan another 500 for the end of 2013.
Other companies that have announced layoffs due to Obamacare include:
Smith & Nephew - 770 layoffs
Abbott Labs - 700 layoffs
Covidien - 595 layoffs
Kinetic Concepts - 427 layoffs
St. June Medical - 300 layoffs
Hill Rom - 200 layoffs
In addition to the elimination of a number of America jobs is a shift from full-time to part-time workers...
(Excerpt) Read more at examiner.com ...
Working as planed with a bonus, layoffs
COULD lead to layoffs? COUNT ON IT!
Any of you thinking of lending him any money probably shouldn't.
Ain’t no big deal for the morons who voted for the Kenyan. They don’t want to work anyway. They love that welfare and “disability”.
Correction: ALREADY HAVE led to massive layoffs. Not just these recent ones, but most of the layoffs for the past few years.
10% plus unemployment will now be considered the new norm.
I’m a disabled veteran who can no more get SSDI than fly to the moon.
We’re actually at around 15%, so ten would be an improvement.
ONLY 10%? That level shall now be “full employment”.
Hone up your “gray market” skills, like trade, barter, non-monetary exchanges and concealed areas for transactions.
It worked in the Middle Ages, it can again.
That isn’t descriptive of everyone by a long stretch. A lot of hard working, religious types as well who sincerely thought they were doing well by women and the poor. People such as my family who live and die by the MSM wouldn’t have known that Obamacare wasn’t much of an issue in the campaign in any case...
..................four more years.
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