Posted on 09/08/2011 10:21:09 AM PDT by george76
The president’s health care overhaul includes a 2.3 percent excise tax on medical devices that will send the durable medical equipment industry into intensive care, eliminate 43,000 jobs, and whack $3.5 billion from local shops and communities, according to a new study by two free market economists.
The 30-page report, released on Wednesday by the Advanced Medical Technology Association, a trade group, also concludes that the tax on medical equipment may prompt the closure of high-tech research facilities in several states.
That trade group released its report predicting massive job losses
...
The new tax is expected to generate $20 billion for the federal government from 2013 to 2019
(Excerpt) Read more at news.yahoo.com ...
Tax buried in Obama health-care plan will kill 43,000 jobs, warns economic report from medical equipment lobby
Obama is such a disgrace. I, for one, will not be watching his speech.
Yep it will also raise the price of those devices too.My $5k insulin pump will most likely cost closer to $6k when I need to replace it in 2 years making my copay rise a lot.Why is it people are getting no copay on birth control etc but he is raising the prices on things people need to stay alive?
Isn’t the answer obvious to you?
How can a this “excise tax” be levied on medical equipment? When the base meaning of “excise tax” means the tax is on “non-essential” consumer goods. Since when did medical equipment become NON-ESSENTIAL!
I have been looking for a electrical generator for back-up power because of black outs that have occurred since last winter, for no apparent reason other than poor maintenance of the power company’s infrastructure. So, now if I purchase this equipment for medical reasons it now becomes medical equipment and will be charged the 2.3% tax.
“UNEXPECTED”
just what barry wants, and more form this or any of his other ¨plans¨.
Obama’s response is this...
Where the FDA inspectors used to visit the medical device manufacturers once every 2 to 3 years, he is now sending them out every 2 to 3 MONTHS, and they are not allowed to return home until they find some minor infraction, or imagined infraction, that will cost the device makers tens of millions in fines and expensive re-working of all procedures from top to bottom.
So much effort is being wasted in useless bureaucracy, some of these companies won’t be standing in a few years. The rest will all cry ‘uncle’ and give in, and collect the new tax for Obama.
Check out for example how many companies still make glucose test strips. It’s an FDA epidemic across the board. All medical companies are under attack.
Express Scripts is also auditing private pharmacies at an alarming rate. Ours has been audited 3 times in the last 6 months. They do nothing wrong, just fill the RX’s as the doc orders. BTW they just bought out the scandal plagued Medco for $29 BILLION.
Just as they drove Walgreen’s out of providing RX coverage come January for retired Military over 65.
Express Scripts is gov’t run, and wants to be the only ball game in town.
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