US Message Board - Political Discussion Forum

The Deadly Tax on Medical Innovation

This is a discussion on The Deadly Tax on Medical Innovation within the Healthcare/Insurance/Govt Healthcare forums, part of the US Discussion category; A thoughtful column about how ObamaCare's taxes will impact medical innovation. Excerpt: Raymond Kurzweil has generalized Moore’s Law as “The Law of Accelerating Returns,” arguing ...


Go Back   US Message Board - Political Discussion Forum > US Discussion > Healthcare/Insurance/Govt Healthcare

Reply
 
LinkBack Thread Tools Display Modes
  #1 (permalink)  
Old 04-11-2010, 01:28 PM
boedicca's Avatar
Uppity Water Nymph
Member #4301
Supporting Member
 
Join Date: Feb 2007
Location: The Land of Funk
Posts: 27,568
Thanks: 5,213
Thanked 13,594 Times in 7,834 Posts
Mentioned: 40 Post(s)
Tagged: 5 Thread(s)
Rep Power: 15580
boedicca gives orders to the Illuminati boedicca gives orders to the Illuminati boedicca gives orders to the Illuminati boedicca gives orders to the Illuminati boedicca gives orders to the Illuminati boedicca gives orders to the Illuminati boedicca gives orders to the Illuminati
boedicca gives orders to the Illuminati boedicca gives orders to the Illuminati boedicca gives orders to the Illuminati boedicca gives orders to the Illuminati boedicca gives orders to the Illuminati boedicca gives orders to the Illuminati boedicca gives orders to the Illuminati boedicca gives orders to the Illuminati boedicca gives orders to the Illuminati boedicca gives orders to the Illuminati boedicca gives orders to the Illuminati boedicca gives orders to the Illuminati boedicca gives orders to the Illuminati boedicca gives orders to the Illuminati boedicca gives orders to the Illuminati
The Deadly Tax on Medical Innovation

A thoughtful column about how ObamaCare's taxes will impact medical innovation. Excerpt:

Raymond Kurzweil has generalized Moore’s Law as “The Law of Accelerating Returns,” arguing that technological progress overall follows a roughly exponential curve. This exponential curve is a natural reflection of the fact that today’s progress forms the base of tomorrow’s innovation. This create a virtuous cycle in which innovators continually build on each other’s work, adding to an ever-increasing fund of knowledge, which in turn allows for future innovations. When people are left free to innovate, the exponential gains they create are therefore akin to the exponential growth we see in our bank balances when we allow compound interest to operate over time.

However, such exponential gains are not automatic. Moore’s Law (and Kurzweil’s generalization) are not laws of nature. Instead, they presuppose a system of government that leaves innovators free to create. Conversely, a government that penalizes innovation could dramatically slow the pace of medical progress, leading to millions of preventable deaths. And this may be one of the worst long-range consequences of the recently passed ObamaCare health legislation.

One of the many new taxes imposed by ObamaCare is a 2.3% excise tax on medical device manufacturers. Although this may not seem like much, it could be devastating to small companies working with thin profit margins.

For instance, the Zoll Medical Corporation is one of the leading manufacturers of automated external defibrillators (AEDs). These devices are commonplace in airports, shopping malls, and other public places. They are meant to be used by members of the general public to give immediate life-saving electrical shocks to someone suffering sudden cardiac arrest.

Advances in hardware and software have made these devices sufficiently reliable that they can be safely used by “Good Samaritan” bystanders with no formal medical training. The AED device itself analyzes the patient’s electrical rhythm and gives voice instructions to the user as to whether and when to safely shock the patient. According to a recent paper in the New England Journal of Medicine, making AEDs widely available to the public could significantly improve the survival rates of cardiac arrest patients.

However, the ObamaCare tax would impose an additional $7.5 million annual burden on Zoll, nearly eliminating their annual profit of $9.5 million. As their CEO Richard Packer recently explained on a Fox News interview with Neil Cavuto:

PACKER: So, it almost wipes out our profits.

CAVUTO: So, you have a couple of choices here. You cut jobs or send them overseas, or you increase the price of your product, not easy to do.

PACKER: Yes, or cut back on research and development. And our business is built around new science, new clinical trials.

CAVUTO: Or a lot more people die as a result…

To make matters worse, it is the small startup companies which are the engine of so much innovation that would be disproportionately harmed by this tax....


Pajamas Media The Deadly Tax on Medical Innovation


One of the worst aspects of intrusive government is we will never know the real opportunity cost of what people could have accomplished if their freedom where not violated. Making matters worse is the Dodd bill which will kill off angel and venture capital investing.
__________________
"Nothing is more curious than the almost savage hostility that Humour excites in those who lack it." - George Saintsbury, A Last Vintage

Reply With Quote
Sponsored Links
USMessageBoard.com is the premier Political Forum Forum on the internet. Registered Users do not see these ads. Please Register - It's Free!
  #2 (permalink)  
Old 04-11-2010, 01:44 PM
Luissa's Avatar
Annoying Customer
Member #11865
Supporting Member
 
Join Date: Sep 2008
Location: TARDIS
Posts: 42,111
Thanks: 2,572
Thanked 6,409 Times in 4,794 Posts
Mentioned: 61 Post(s)
Tagged: 0 Thread(s)
Rep Power: 5646
Luissa is cooler than the underside of a pillow Luissa is cooler than the underside of a pillow Luissa is cooler than the underside of a pillow Luissa is cooler than the underside of a pillow
Luissa is cooler than the underside of a pillow Luissa is cooler than the underside of a pillow Luissa is cooler than the underside of a pillow Luissa is cooler than the underside of a pillow Luissa is cooler than the underside of a pillow Luissa is cooler than the underside of a pillow Luissa is cooler than the underside of a pillow Luissa is cooler than the underside of a pillow Luissa is cooler than the underside of a pillow Luissa is cooler than the underside of a pillow Luissa is cooler than the underside of a pillow Luissa is cooler than the underside of a pillow Luissa is cooler than the underside of a pillow
Who lifted the ban on federal funding for embyonic stem cell research?
__________________
Liberals would offer sexual favors to the invaders and cons and libertarians would fight- Novasteve

It says I can use my phone. What does it day about you that barely can read? -thanatos144

So glad this thread turned out the way I thought. Please continue proving me right hags I will be doing other things bug I will still read your ignorant posts. -thanatos144
Reply With Quote
Reply


Lower Navigation
Go Back   US Message Board - Political Discussion Forum > US Discussion > Healthcare/Insurance/Govt Healthcare
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

Forum Jump


All times are GMT -6. The time now is 09:40 AM.



Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.