Friday, March 15, 2013

Obamacare tax on 'medical devices' expected to cost 146,000 jobs

Obama is the King of unintended [all bad] consequences.
As the fight over Obamacare raged in the House and Senate Wednesday, a new worry emerged that has the potential to push 146,000 high-paid, high-skill American jobs overseas.
Former Bush economist Diana Furchtgott-Roth told a House panel that the tiny provision in Obamacare that puts a 2.3 percent tax on "medical devices" such as heart valves, insulin pumps and dental fillings will stifle development of the devices and push production overseas since no other country taxes the items.

Testifying before the Energy and Commerce Committee, she said that a 10 percent shift in production overseas would cost up to 64,000 jobs and a 30 percent shift would cost up to 146,000 jobs.

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