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Medical supply giant Stryker is the latest company to announce job cuts in anticipation of coming costs associated with ObamaCare, even though the man who inherited a fortune from the company's founder is a fan.
The company will cut 1,170 jobs, or five percent of its worldwide workforce, despite the fact that the founder's grandson was one of the largest contributors to President Obamas re-election campaign. Medical tech scion Jon Stryker, whose net worth is currently estimated at $1.2 billion, contributed $2 million to the Priorities USA Action super PAC and has given $66,000 in contributions to Obama and the Democratic Party. Stryker does not run the company.
A "medical device excise tax" included in the mandate imposes a 2.3 percent levy on medical device manufacturers and suppliers, which critics say will raise prices on everything from pacemakers to prosthetics to stents. Companies will be required to pay the tax regardless if they have a profit or loss for the year. The tax is estimated to cost the medical device industry $20 billion.
Fuck 'em.The company will cut 1,170 jobs, or five percent of its worldwide workforce, despite the fact that the founder's grandson was one of the largest contributors to President Obama’s re-election campaign.
Medical giant Stryker cuts 1,170 jobs, citing ObamaCare
Fox ^
Medical supply giant Stryker is the latest company to announce job cuts in anticipation of coming costs associated with ObamaCare, even though the man who inherited a fortune from the company's founder is a fan.
The company will cut 1,170 jobs, or five percent of its worldwide workforce, despite the fact that the founder's grandson was one of the largest contributors to President Obamas re-election campaign. Medical tech scion Jon Stryker, whose net worth is currently estimated at $1.2 billion, contributed $2 million to the Priorities USA Action super PAC and has given $66,000 in contributions to Obama and the Democratic Party. Stryker does not run the company.
A "medical device excise tax" included in the mandate imposes a 2.3 percent levy on medical device manufacturers and suppliers, which critics say will raise prices on everything from pacemakers to prosthetics to stents. Companies will be required to pay the tax regardless if they have a profit or loss for the year. The tax is estimated to cost the medical device industry $20 billion.
Read more: Medical giant Stryker cuts 1,170 jobs, citing ObamaCare | Fox News
Huh? That doesn't even withstand basic mathematical scrutiny.
If you're already at optimal productivity then a 5% cut in your workforce means about a 5% reduction in production which means about a 5% reduction in the profits you would otherwise make. Its an excise tax, they can't lower the percentage that the tax takes out of their profits by lowering production!
If you aren't already at optimal productivity then the real underlying reason you're cutting jobs is because - you're not at optimal productivity.
The Founder's grandson? Who gives a shit?
Medical giant Stryker cuts 1,170 jobs, citing ObamaCare
Fox ^
Medical supply giant Stryker is the latest company to announce job cuts in anticipation of coming costs associated with ObamaCare, even though the man who inherited a fortune from the company's founder is a fan.
The company will cut 1,170 jobs, or five percent of its worldwide workforce, despite the fact that the founder's grandson was one of the largest contributors to President Obamas re-election campaign. Medical tech scion Jon Stryker, whose net worth is currently estimated at $1.2 billion, contributed $2 million to the Priorities USA Action super PAC and has given $66,000 in contributions to Obama and the Democratic Party. Stryker does not run the company.
A "medical device excise tax" included in the mandate imposes a 2.3 percent levy on medical device manufacturers and suppliers, which critics say will raise prices on everything from pacemakers to prosthetics to stents. Companies will be required to pay the tax regardless if they have a profit or loss for the year. The tax is estimated to cost the medical device industry $20 billion.
Read more: Medical giant Stryker cuts 1,170 jobs, citing ObamaCare | Fox News
Huh? That doesn't even withstand basic mathematical scrutiny.
If you're already at optimal productivity then a 5% cut in your workforce means about a 5% reduction in production which means about a 5% reduction in the profits you would otherwise make. Its an excise tax, they can't lower the percentage that the tax takes out of their profits by lowering production!
Medical giant Stryker cuts 1,170 jobs, citing ObamaCare
Fox ^
Read more: Medical giant Stryker cuts 1,170 jobs, citing ObamaCare | Fox News
Huh? That doesn't even withstand basic mathematical scrutiny.
If you're already at optimal productivity then a 5% cut in your workforce means about a 5% reduction in production which means about a 5% reduction in the profits you would otherwise make. Its an excise tax, they can't lower the percentage that the tax takes out of their profits by lowering production!
Um. No.
A 5% cut in workforce means the other 95% will have to work harder.
.
Or that there'll be some hiring going on in China.Medical giant Stryker cuts 1,170 jobs, citing ObamaCare
Fox ^
Read more: Medical giant Stryker cuts 1,170 jobs, citing ObamaCare | Fox News
Huh? That doesn't even withstand basic mathematical scrutiny.
If you're already at optimal productivity then a 5% cut in your workforce means about a 5% reduction in production which means about a 5% reduction in the profits you would otherwise make. Its an excise tax, they can't lower the percentage that the tax takes out of their profits by lowering production!
Um. No.
A 5% cut in workforce means the other 95% will have to work harder.
.
United Health Group has about 3000 job openings all over the country, maybe the can find a better job.
Medical supply giant Stryker is the latest company to announce job cuts in anticipation of coming costs associated with ObamaCare, even though the man who inherited a fortune from the company's founder is a fan.
The company will cut 1,170 jobs, or five percent of its worldwide workforce, despite the fact that the founder's grandson was one of the largest contributors to President Obama’s re-election campaign. Medical tech scion Jon Stryker, whose net worth is currently estimated at $1.2 billion, contributed $2 million to the Priorities USA Action super PAC and has given $66,000 in contributions to Obama and the Democratic Party. Stryker does not run the company.
A "medical device excise tax" included in the mandate imposes a 2.3 percent levy on medical device manufacturers and suppliers, which critics say will raise prices on everything from pacemakers to prosthetics to stents. Companies will be required to pay the tax regardless if they have a profit or loss for the year. The tax is estimated to cost the medical device industry $20 billion.
Read more: Medical giant Stryker cuts 1,170 jobs, citing ObamaCare | Fox News
And the latest award for Giant-greedy-corporation-using-Obamacare-as-an-excuse-to-cut-jobs goes to...
I wonder if wingnuts wept for all the out of work horse and buggy drivers, back in the day.
