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Posted on 07/27/2012 5:02:04 PM PDT by tobyhill
An Indiana-based medical equipment manufacturer says it's scrapping plans to open five new plants in the coming years because of a looming tax tied to President Obama's health care overhaul law.
Cook Medical claims the tax on medical devices, set to take effect next year, will cost the company roughly $20 million a year, cutting into money that would otherwise go toward expanding into new facilities over the next five years.
"This is the equivalent of about a plant a year that we're not going to be able to build," a company spokesman told FoxNews.com.
He said the original plan was to build factories in "hard-pressed" Midwestern communities, each employing up to 300 people. But those factories cost roughly the same amount as the projected cost of the new tax.
(Excerpt) Read more at foxnews.com ...
What!? Do these people imagine that they could spend this money more productively than the gubbamint? /s
I think he must have gone over to Gary one Saturday night and picked up a bad STD or something. He's never been the same since.
Yeah, elect more Democrats to: loose your jobs, raise your taxes, penalize everyone, make up global warming, etc. Get you on poverty so you depend on them and vote them back inso they can live like kings and queens like bo and mo.
Obama and liberals are complete morons.
The medical device industry is one industry where the United States is still highly competitive.
And now Obama wants to punish it with a specific taxation aimed against it.
If Romney had any brains, he would work with the medical device industry pow wows and create an ad blasting Obama for his job killing stupidity.
I work in the industry and there are several pockets - yes one is in Indy. Chicago is more pharma. Other device regions ate Milwaukee/Minneapolis, cleveland/Pittsburgh, Boston, a pocket in Texas, one around Atlanta and one around San Diego. Denver did have a solid grouping but it has fallen off a bit which impartially blame on a very strict Denver FDA office. The FDA has issued a ton of warning letters and consent decrees since 2002. I’ve worked on a couple of overhauls to save sites from regulatory death - it was bad with bush but gotten worse since o took office.
Just how does putting a tax on medical equipment LOWER the cost of healthcare?
Just how does putting a tax on medical equipment LOWER the cost of healthcare?
The big orthopedic manufacturers are located in Warsaw, Indiana. They produce cutting edge hip and knee replacements, which has improved the quality of life for many. Obamacare has a dark side in which there will eventually be NO need for these types of products. Granny will get the blue pill and a cane. If you are putting off surgery for your bad knee or hip, may I suggest you get it before Jan 1, 2013.
So, not only less jobs for people in need of employment, but less medical equipment will be available to help treat the sick and injured. Obamacare is a huge help.
That’s another hit on Indiana’s economy - this “health care” bill also wiped out the student loan business - wasn’t Sallie Mae big in Indiana?
No, little monkey.
For supporting Mr. ROmneyCARE, ObamaCARE and Obama/ROMNEYtaxes
along with DEATH PANELS, the ONLY idiot is thou.
Obama outsources jobs.
Yup ~ the mob over in Illinois has never been happy about Indiana.
you'd think healthcare would be the ONE place taxes were low...
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