Posted on 10/24/2009 11:54:13 PM PDT by Nachum
TRENTON, N.J. — Johnson & Johnson executives said Tuesday a proposed tax on medical device makers, part of the health care reform package moving in the Senate, is too high and could cost jobs in the industry.
"We think that the $4 billion tax that they're referring to is unreasonable," J&J Chief Financial Officer Dominic Caruso told The Associated Press in an interview. "We believe it's at least twice what it ought to be."
Caruso spoke after New Brunswick, N.J.-based J&J reported its third-quarter earnings, which included a tiny profit increase and sales declines in every division except medical devices, due to the effects of generic competition and the recession.
(Excerpt) Read more at google.com ...
The list, ping
J&J is falling for it.
Make the victim negotiate it.
At least twice as much as it ought to be??? Oh goodness. Hey just volunteer to lose money... of course it’ll be passed on to consumers.
It is depressing that J&J would even volunteer for half the fees/tax. What fools!!!
This makes a whole lot of sense. Tax the medical device makers so we can turn around and pay the resulting higher device prices with our tax dollars under Obama care.
J&J has been a bleeding heart lib company for many years.
No real surprise with how they responded.
J&J, that typically lists profits in billions, should say it does not want to pay any tax.
THAT would be walking right into the liberals’ trap of condemning capitalism....especially since nobody has J&Js back.
Who is going to come out and defend them when they say this tax is wrong or unfair? Nobody.
They have no choice but to try and negotiate. They are dealing with mafia enforcers and nobody has their back.
I believe it's $4 billion more than it ought to be.
What about those of us who depend on medical devices we will bear the brunt of this tax. I will soon have to replace my CPAP unit which I use to relieve my sleep apnea. The current price of a CPAP is around $2,000, only half of which is covered under my health insurance. Under Obamacare will the cost of a CPAP increase by 40%? If I am forced to take the “public option” will it even cover CPAP units particularly due to my age?
> ... We believe it’s at least twice what it ought to be ...
Exactly how is twice $0.00 conceived a $4 billion?
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