Indiana company scraps plans for expansion over ObamaCare device tax

Discussion in 'Current Events' started by WillowTree, Jul 28, 2012.

  1. WillowTree
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    WillowTree Diamond Member

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    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.


    Read more: Indiana company scraps plans for expansion over ObamaCare device tax | Fox News







    Say bye bye to a bunch of new jobs and some much needed equipments. wow you are so awesome obummer so freakin awesome.
     
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  2. WillowTree
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    WillowTree Diamond Member

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    • Thank You! Thank You! x 2
  3. CrazedScotsman
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    CrazedScotsman VIP Member

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    Liberals don't care if a company can't expand or goes out of business. All they care about is getting as many people as possible dependent on the government and the more businesses that can't hire or close, the more people that get on the government entitlement programs.
     
  4. RoadVirus
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    RoadVirus <insert pithy title here>

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    Good job Obama. Time for you to become unemployed yourself.
     
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  5. Mr. H.
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    Mr. H. Diamond Member

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    As the saying goes, the devil is in the details.
    Maybe someone should have read it after all.
     
  6. Old Rocks
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    Old Rocks Diamond Member

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    Faux News.
     
  7. flacaltenn
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    flacaltenn USMB Mod Staff Member Gold Supporting Member

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    Tell ya what Roxy --- I'll take back this big Fuck You if you prove any fundamental inaccuracies in this reporting.. I'm tired of people indicting sources without doing any work, and I'm TRULY UPSET by watching the engine of our economy get dismantled by your heroes..

    Go ahead -- find this on MSNBC or NPR.
     
  8. flacaltenn
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    flacaltenn USMB Mod Staff Member Gold Supporting Member

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    HEY ROXY ____

    NOT Fox News...

    WHEN ARE YOU LEFTISTS GONNA QUIT CLOWNING AROUND AND ACKNOWLEDGE THE DAMAGE that the Pelosi/Reid/Obama revolution is doing to this country????

    HELL YEAH --- I'm angry.. I'm TRULY PISSED... I'm uncharacteristically PISSED OFF.. It's like watching a fucking train wreck...

    Heck I might be mad enough to forgo my concience vote for Gary Johnson and just pull the lever for a Republican just to run up the numbers. For me -- that's TERMINALLY PISSED.
     
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    Last edited: Jul 29, 2012
  9. Caducus
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    Caducus Rookie

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    Forgive the newbee for interjecting but the medical device excise tax is still going to apply to devices sold in the US, moving the manufacturing oversees just frees them from the portion of their production that isn't sold here. If its cheaper to make and ship some of these devices here, then it is to pay the 2.3% then the issue isn't this tax, its everything else that causes higher manufacturing costs. Don't blame Obama for this, its just shrewd business on Cook Medical's part, they could still make a profit staying in the US but the margin is bigger elsewhere. In this case the company has a transparent reason to raise the price, I wouldn't be surprised if they raise the price across the board, and take that 2.3% in increased cash when a device is not sold in the US and pocket it. I think the company sees a way to make a bigger profit, and a scapegoat for not creating new jobs in the US at the same time.
     
  10. WillowTree
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    WillowTree Diamond Member

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    you're certifiable.
     

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