Monday, January 7, 2013

Obamacare is Great

Actually, we may have heard a little. The medical device industry had the resources to make a futile fuss relatively early about the 2.3 percent tax that is being levied on gross sales, without regard to profitability. That's right, in the red, or in the black, the medical device industry will have to give the government a cut. According to the Medical Devices Manufacturers Association, a trade group, "Many companies will owe more in taxes than they generate from their operations." The tax, which has its own IRS FAQ, along with 10 pages of helpful guidance (PDF), has somewhat disheartened crafters of pacemakers and brain implants. A survey conducted by the Massachusetts Medical Devices Journal found that "more than 40% of member company executives anticipate job losses as a result of the 2.3% medtech levy."

Would those of you that support Obamacare care to explain how the government making more money on pacemakers than the pacemaker manufacturers is a good thing?

I thought that earning a profit was evil. If so, then isn't the government more evil than pacemaker manufacturers?

I wonder what else the government is more evil than? Oh yeah, big oil companies.

America was fun while it lasted.

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