Obamacare just keeps on giving, giving more misery and pain to the American people. The latest is the news that a medical device company in Michigan is laying off 1,000 workers due to the Obamacare tax. I’m sure those workers are finding no comfort in knowing they’ve been sacrificed in the name of the “public good,” which is just a farce.
“There are also new taxes affecting West Michigan industry, in particular, that took effect this year,” says a local reporter. “There’s a new 2.3 percent excise tax on medical device manufacturers. According to some reports, Kalamazoo based Stryker has laid off more than a thousand people because of it–and owes the federal government upwards of $100 million dollars this year alone. Late last week a Stryker spokesperson told me that Obamacare will cost the company fully 20 percent of its total research and development investments.
“And although it’s no secret that drug makers like Pfizer stand to profit billions because of the increased numbers of insured Americans and the corresponding increased need for medications–they’re being hit with an excise tax as well – on brand name drugs–running in to the tens of billions of dollars.”
Read more and watch the sad videos at The Weekly Standard.
My husband just made a great point about how the US keeps losing manufacturing jobs. “We don’t make anything in this country anymore,” he said. But the things we are making are being taxed to the point where they can’t make them here anymore. It’s insane.