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Beginning in January, medical device manufacturers will have to pay a 2.3 percent tax on their gross sales. This is one of the ways Obamacare is to be paid for, and it’s estimated to cost the industry more than $20 billion over the next decade.
The consequences of this tax are already being seen. Cook Medical announced that because of it, plans are being scrapped that would have built five new plants and added hundreds of jobs to the Indiana economy. Multiply that by all the other employers in the field who will alter their plans, and the blow to the economy is obvious.
This is such a bad idea that former supporters of Obamacare are bailing. Former Democratic Sen. Evan Bayh has called on Congress to repeal the medical device tax, even though he provided the 60th vote that allowed Obamacare to pass in the first place. Rep. Joe Donnelly, the current Democratic candidate for the Senate, also voted for Obamacare and now expresses regrets for the medical device component. Thanks for your concern, guys, but where were you when it counted? Did you take the advice of Nancy Pelosi that the details didn’t matter because we could find out what was in the bill after it passed?
Elections have consequences. It matters who we send to Washington. That gives you an easy choice. Should you send to the Senate, for example, a candidate who has pledged to end Obamacare or one who has expressed regret for supporting it? As Sen. Dan Coats said in a Politico opinion piece this week, we have a chance this November to “help correct the damage.”
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