WH Taxes Health Care
We are getting more and more information from those who are actually reading that monstrosity of a health care bill. The Senate bill has tons of taxes on medical devices. They seem to think that we regular folks don't deserve such frivolous luxuries as pacemakers, stents, artificial heart valves, defibrillators, automated wheelchairs, mechanized artificial limbs, replacement hips and knees, surgical gurneys, laparoscopic equipment, and the like. They are taxing them! Like stuff isn't expensive enough? And then they have the nerve to point fingers at insurance companies? Who is really taking advantage of the sick here?
And here is the evolution of this dumbass idea…
The medical device industry had its day at the White House as did the insurance industry, the drug makers, the nurses, and the doctors. Each group was bombarded with demands for voluntary cuts in their health care costs and support Obama's proposed changes — in return for assurances that Congress would not impose deeper cuts (or, in the case of the doctors, that it would actually rescind cuts already scheduled under current statutes).
But, unlike all these other groups, the medical device industry refused the deal. This posture enraged the tyrants in the White House who vowed to punish the industry with cuts imposed by Congress. The result was a decision by the revenue-hungry Senate Finance Committee to extract billions in funds from the industry.
The legislation does not work like a sales or excise tax. Rather it follows the model of the punitive tobacco settlement imposed on cigarette companies in the 90s. It assesses an industry-wide payment which firms must make in proportion to their market share. It bars the them from passing along the cost of the assessment by charging more for certain basic products, but allows them to raise the price of others to raise the funds for the fee.
So, the result will be that virtually every piece of advanced surgical equipment will be subject to a price increase to meet the levy from Washington. No matter that these devices often make the difference between life and death and that, in effect, taxing them raises the cost of vital treatments. The vengeful White House will have its pound of flesh from the medical device industry for daring to be independent and to refuse to knuckle down to Administration pressure!
….and meanwhile, 14 Americans died today in Afghanistan. You would think he would get off the pot and send backup over there.
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Tags: Health Care Taxes
