By
Attorney Jonathan Emord
Author of "The Rise of Tyranny" and
"Global Censorship of Health Information" and
"Restore The Republic"
February 4, 2013
NewsWithViews.com
Author of "The Rise of Tyranny" and
"Global Censorship of Health Information" and
"Restore The Republic"
February 4, 2013
NewsWithViews.com
Among the provisions in the Patient Protection and Affordable Care Act (Obamacare) that promises to wipe out an entire industry is a 2.3% excise tax on medical device companies. That tax, now in effect, is imposed on gross
receipts, not net profits. The tax is now devastating a market characterized
by small and mid-sized firms who can ill afford the tax. Medical device
companies invest a considerable amount of their profits in research
and development, either to invent new technologies to improve patient
care or to amend existing technologies in ways that improve patient
comfort or medical outcomes. We are about to witness a mass exodus of
medical device companies off shore or out of business. We are also about
to witness the demise of several medical device companies and, with
them, vital technologies used by physicians to help patients. The beneficiaries
of the tax reside off American shores. Foreign medical device companies
will now experience a market boom as they exploit the market losses
that American firms accumulate as a result of this onerous excise tax.
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