Skip to comments.Trade group identifies medical device makers passing on federal tax
Posted on 03/04/2013 8:47:39 AM PST by Sopater
Some medical device manufacturers are trying to pass on the cost of the new federal tax on medical devices to hospitals, and a trade group on Thursday said it has launched a website to identify those companies publicly.
Congress imposed the 2.3 percent tax on the manufacturers as part of the Affordable Care Act. It is expected to collect more than $30 billion over the next decade to help extend healthcare coverage to millions of Americans who would otherwise be uninsured.
The Healthcare Supply Chain Association, which represents the biggest group purchasing organizations (GPO) used by hospitals, on Thursday said the new site, www.devicetaxwatch.com/ would help raise awareness of efforts by some manufacturers "to shift costs of the tax directly to hospitals, healthcare providers, patients and taxpayers."
Most of the companies on its list of "cost-shifting suppliers" are small and private, but there are some large ones, including Allergan Inc, Cerner Corp, Waters Corp, Alere Inc, Invacare Corp, Integra Lifescience and Staar Surgical Co, Cardica Inc, Iridex Corp and Misonix Inc.
(Excerpt) Read more at reuters.com ...
If the tax was not supposed to be passed along as a cost of doing business, then it seems that it was intended to be a penalty to these providers, rather than just a tax. They should not be demonized for increasing their costs to cover the tax, IMHO.
So what if they lose money on each device, let them make it up on volume.
Kind of like the postal service, huh? (snicker...)
is one really necessary?
Businesses passing on their government regulatory costs and taxes to consumers by raising their prices? Tell me it ain’t so...
That’s called how you run a business and stay afloat when the federal mafia have their hands in your back pockets. I thought the liberals were supposedly smarter yet they don’t get this.../s
All costs of operation are passed on to consumers. Period. Reuters is accusing them of nothing more than doing business.
And no one ever thought that increased taxes on business would be passed on down the chain? It is called Trickle Down Taxes, just like Wealth.
> So what if they lose money on each device, let them make it up on volume.
Well what if they don’t want to? Your reasoning seems “liberalish” to me.
This is pretty damned Funny, for the last 30 years HOSPITALS have been Pushing the Costs of treating the Uninsured and Illegals onto us Insured Citizens with the means and ability to pay. What was that line about not throwing stones when you live in a glass house
See comment 11
Corporations that sell products do not pay taxes. They collect them.
The taxes imposed are part of their cost of doing business, and the effect is to make their product more expensive. If the product is not being marketed for the ultimate profit of the maker, very soon it is no longer being produced at all.
What part of economics does this regime now squatting in the White Hut not understand? One is inclined to believe, not one bit of the dismal science of economics is within their grasp.
These companies were unfairly singled out along with tanning salons. Now they are demonized further.
What does the facist group suggest their facist government do about this “outrage”? Put some CEOs in jail? Or a reeducation camp?
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