Obamacare - Taxing Jobs Out of Existence

Taxing jobs out of existence - The Washington Post

Bill Hewlett and David Packard, tinkering in a California garage, began what became Hewlett-Packard. Steve Jobs and a friend built a computer in the California garage that became Apple’s birthplace. Bill Cook had no garage, so he launched Cook Medical in a spare bedroom in an apartment in this university town. Half a century ago, in flight from Chicago’s winters, he settled here and began making cardiovascular catheters and other medical instruments. One thing led to another, as things have a way of doing when the government stays out of the way, and although Cook died last year, Cook Medical, with its subsidiaries, is the world’s largest family-owned medical devices company.

In 2010, however, Congress, ravenous for revenue to fund Obamacare, included in the legislation a 2.3 percent tax on gross revenue — which generally amounts to about a 15 percent tax on most manufacturers’ profits — from U.S. sales of medical devices beginning in 2013. This will be piled on top of the 35 percent federal corporate tax, and state and local taxes. The 2.3 percent tax will be a $20 billion blow to an industry that employs more than 400,000, and $20 billion is almost double the industry’s annual investment in research and development.

************************

Many thanks to George Will for bringing us back to what really matters...the economy and Obama's miserable handling of it.

The whole gay rights thing is just a smoke screen to prevent a discussion about how our liar-in-chief is trying to run from his economic record.

Come on lefties....let's hear the spin.....

Blame this on Booooosssshhhhhh.......

If they are deciding that a 2.3% tax is to much..and building elsewhere, perhaps they shouldn't see the profit they will make by the increased use of their products thanks to the ACA.

Perhaps there should be a directive to cut government funding and contracts for these unpatriotic companies.

If only Booooosssshhhhh had come up with that idea.
To a relatively small medical equipment company, an additional $30 million in lost revenue is a huge chunk of change.
What you people cannot grasp is that the tax comes from the bottom line. Businesses live or die on their bottom line.
Both businesses and individuals will do whatever is within their legal rights to avoid an unjust tax. And this one is a money grab. That's all it is. Confiscation.
 
Taxing jobs out of existence - The Washington Post

Bill Hewlett and David Packard, tinkering in a California garage, began what became Hewlett-Packard. Steve Jobs and a friend built a computer in the California garage that became Apple’s birthplace. Bill Cook had no garage, so he launched Cook Medical in a spare bedroom in an apartment in this university town. Half a century ago, in flight from Chicago’s winters, he settled here and began making cardiovascular catheters and other medical instruments. One thing led to another, as things have a way of doing when the government stays out of the way, and although Cook died last year, Cook Medical, with its subsidiaries, is the world’s largest family-owned medical devices company.

In 2010, however, Congress, ravenous for revenue to fund Obamacare, included in the legislation a 2.3 percent tax on gross revenue — which generally amounts to about a 15 percent tax on most manufacturers’ profits — from U.S. sales of medical devices beginning in 2013. This will be piled on top of the 35 percent federal corporate tax, and state and local taxes. The 2.3 percent tax will be a $20 billion blow to an industry that employs more than 400,000, and $20 billion is almost double the industry’s annual investment in research and development.

************************

Many thanks to George Will for bringing us back to what really matters...the economy and Obama's miserable handling of it.

The whole gay rights thing is just a smoke screen to prevent a discussion about how our liar-in-chief is trying to run from his economic record.

Come on lefties....let's hear the spin.....

Blame this on Booooosssshhhhhh.......



November cannot get here any sooner. If he wins I know what has to be done next if he loses America is saved. for now.

what has to be done next?
Fire Obama. Fire enough lib Senators.
Done.
 
Taxing jobs out of existence - The Washington Post

Bill Hewlett and David Packard, tinkering in a California garage, began what became Hewlett-Packard. Steve Jobs and a friend built a computer in the California garage that became Apple’s birthplace. Bill Cook had no garage, so he launched Cook Medical in a spare bedroom in an apartment in this university town. Half a century ago, in flight from Chicago’s winters, he settled here and began making cardiovascular catheters and other medical instruments. One thing led to another, as things have a way of doing when the government stays out of the way, and although Cook died last year, Cook Medical, with its subsidiaries, is the world’s largest family-owned medical devices company.

In 2010, however, Congress, ravenous for revenue to fund Obamacare, included in the legislation a 2.3 percent tax on gross revenue — which generally amounts to about a 15 percent tax on most manufacturers’ profits — from U.S. sales of medical devices beginning in 2013. This will be piled on top of the 35 percent federal corporate tax, and state and local taxes. The 2.3 percent tax will be a $20 billion blow to an industry that employs more than 400,000, and $20 billion is almost double the industry’s annual investment in research and development.

************************

Many thanks to George Will for bringing us back to what really matters...the economy and Obama's miserable handling of it.

The whole gay rights thing is just a smoke screen to prevent a discussion about how our liar-in-chief is trying to run from his economic record.

Come on lefties....let's hear the spin.....

Blame this on Booooosssshhhhhh.......

If they are deciding that a 2.3% tax is to much..and building elsewhere, perhaps they shouldn't see the profit they will make by the increased use of their products thanks to the ACA.

Perhaps there should be a directive to cut government funding and contracts for these unpatriotic companies.

If only Booooosssshhhhh had come up with that idea.

In the example I posted, that piddling little 2.3% is 15 to 30 million a year... certainly not a piddling amount. As for 'increased use of their products', you have some actual, you know, PROOF, of this claim... right? :rolleyes:

Also, let's see the specifics on the 'government funding and contracts' you mentioned. You HAVE specifics... right? :rolleyes:

yeah... didn't think you'd be able to back that up.
 

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