Skip to comments.Obamacare tax on 'medical devices' expected to cost 146,000 jobs
Posted on 03/15/2013 8:19:53 AM PDT by Sopater
As the fight over Obamacare raged in the House and Senate Wednesday, a new worry emerged that has the potential to push 146,000 high-paid, high-skill American jobs overseas.
Former Bush economist Diana Furchtgott-Roth told a House panel that the tiny provision in Obamacare that puts a 2.3 percent tax on "medical devices" such as heart valves, insulin pumps and dental fillings will stifle development of the devices and push production overseas since no other country taxes the items.
Testifying before the Energy and Commerce Committee, she said that a 10 percent shift in production overseas would cost up to 64,000 jobs and a 30 percent shift would cost up to 146,000 jobs.
Furchtgott-Roth, senior fellow at the Manhattan Institute, predicted that firms facing the tax would "move production offshore.
(Excerpt) Read more at washingtonexaminer.com ...
Why has no one pointed out that this is a tax on the sick and the disabled! Other medical expenses are not only not taxed but can be deducted from income tax. These devices, which are seldom optional, are being treated like luxury items.
Congress and their families and Moslems for all time
are free of ObamaCARE and its taxes.
Seems fair. Especially after the 911 Atrocities,
forgotten like the Benghazi missing witnesses.
Does this mean if you tax something you get less of it? And that if you are making less of something, there will be fewer jobs? That’s unexpected.