Your Friday IRS regulation dump: Obamacare’s job-killing medical device tax

If it’s Friday, it’s another White House dump day. Cue the dump truck horn: Doot! Doot! Doot!
While Obama sycophants are busy trumpeting deceptive jobs numbers, the administration is quietly moving forward with job-killing Obamacare regs and taxes. The IRS today released rules to impose the $20 billion Obamacare medical device tax scheduled to take effect next year.
At a time when the White House is touting its government initiatives to champion “innovation,” the Obamacare innovation tax on medical device/diagnostic manufacturers will kill an estimated 43,000 jobs.
The very job creators President Obama purports to support are balking at the tax regs and have called for repeal. The Advanced Medical Technology Association, America’s leading association for med tech manufacturers, blasts the new rules:
“[The proposed IRS regulations] highlights the need for prompt action by Congress and the Administration to repeal this anti-competitive, job-killing tax,” Stephen J. Ubl, AdvaMed president and CEO said in a statement.
“Failure to repeal the device tax flies in the face of the President’s comments during the State of the Union about the need to reform our tax system to make our nation more competitive in the world market, a view shared by members of Congress from both parties,” Ubl went on to explain, adding that “the tax will create a number of complex administrative and technical burdens that must be addressed.”
I’ve reported before on how the medical device tax has already resulted in operational and job cutbacks in Massachusetts, home to many medical innovators.
Fewer jobs. Fewer entrepreneurs. Fewer medical advances.
Winning the future…by killing it.
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This one of MANY things the Obama campaign is desperately trying to avoid discussing. This is why, when attacked, the GOP candidate, should ignore the attack or say, “whatever, and focus on hitting Obama upside the head with these issues.
DO NOT GET OFF TASK.
Question 1: Mr. President, who ordered Fast and Furious and who did that person get approvals from? If you do not know you need to understand 250 people are dead; therefore you should.
Obowmao: (brainstorming) (snaps fingers) Hey gang! I know what we can do! We can use those leftover Chevy Volts as defibrillators! I’m a Super Genius!
The government will be able to create more wealth with that tax revenue than the private industry companies they are taking it from. That must be the case, otherwise why would Obama do it?
I’m actually surprised. When the economy collapses, medical devices will be much less important than food. So where’s the socialist/dem idea for a food tax?
We have to pass the bill to find out what’s in it…
Oh, just file this under “we’re stupid enough to believe that taxing devices would bend the cost curve down”. Geeze, there comes a point when bho just can’t hide the obvious stupidity and illogical thought process here. Every new tax creates gov jobs and only gov jobs. At some point when there are no private jobs, there won’t be a need to have and gov jobs either. I can only hope that when bho’s voted out that he will remain unemployed.
If healthcare must be run by the government because it is a necessity that people can’t do without, why shouldn’t the government control food and housing as well?
If green energy companies receive subsidies, grants and tax credits in order to make such technologies more affordable, how does instituting a tax on medical device manufacturers allow them to bring their products to market cheaper?
A defibrillator that runs on gas after the battery is dead!
…but, but, when the batteries, totally go dead, after several years (of daily use)….it will be ‘parked’ like the Prius “down the road” is.
Anyhow, all I have to say about obamaDON’Tcare is: Land of the FEE
BTW: Isn’t a “coal-fired” defibrillator a bit unwieldy?
As a first responder, I’m curious as to “where” they will “put” the handle…
People who have given up on themselves vote for Democrats.
When are Liberals going to figure out that Obama is masturbating them with one hand and stabbing them in the back with the other?
Oh, silly me, I forgot that Liberals are incapable of independent thought and cannot grasp the concept of “common sense”.
Where else but the same place where Romney care started, the masshole ‘junk food’ / snack tax. Plus they’ve added tax to all non-food items in the grocery store like paper towels and garbage bags, etc.
Taxing food has got to be just around the corner; they’re already talking about a sugary drink and candy bar tax.
That qualifies as a classic quote. But is it a racist one – a sexual and criminal reference used in conjuction with applicaton to an African American male? Let’s ask Al Sharpon.
Unemployed? That’s being downright benevolent considering what he’s done to an entire country.
We won’t need medical device innovation in Communist America cause all you’re gonna get is pain pills for your cancer/joint in need of replacement, etc. They are gonna make health care affordable, by defining “health care” down incrementally. This is what the first step into the thousand years of darkness Reagan warned about, looks like.
And just so you know, the governing class loves Obamacare, and they will NEVER, EVER repeal it.
It is hard to imagine, but Obama care, has actually harmed Massachusetts, because it is so much worse, than just having to buy yourself some insurance, or losing your deduction on your tax return (You cannot deduct if you did not pay for insurance. Called a fine.)
In MA, most employers paid your entire insurance bill, and you paid your co pays yourself. Now that you cannot charge a copay, we have to pay part of the premium to cover this added cost, you used to pay when you went in the doctors office. Before it wasn’t included in the cost of your insurance, now it is. The cost of insurance goes up. Blame Duval, Blame Obama, Blame Pelosi, but I hope you won’t blame Mitt.
Any person who has stock in medical device or any company who makes drugs, give a re-think on what you should do? The endless ads from trial lawyers on the tube, ‘if you had this or that and you have a problem’ call us’? And we wonder why meds or medical devices cost an arm and a leg, just look at what the companies are dealing with? Do you want china making your meds? Do you want china making a new knee for you? I don’t even buy food for my pets that I see are made from china, and not in a million years will I buy meds or medical devices from a firm bho has driven our companies to make with their mandates! Stay healthy people, your life will depend on it! I might add, mo, bho and team can’t tell you how to do that!
L
great idea, but it needs some work. once you get your heart restarted, your house is burned down. so you are alive, but need a new house.
i love those commercials, when they ask if said device or drug caused your death? i am not sure if ghosts watch tv?
tone said,
Won’t it be a hoot when you have to fly back to Manila w/ your Filipino brother-in-law doc to get access to healthcare that might actually DO something for you!?
It reveals not only that politicians and bureaucrats are lazy highwaymen, but they are also economically ignorant.
MM said,
The doc-dump dozer, the only reliable vehicle in the Obama-fleet! Isn’t it about time we count down the dd’s vice announcing another?
Deceptive job #’s indeed. Just keep taking people out of the unemployment calculation, who are still unemployed, and pretty soon you’ll have 2% unemployment. Except who knows the #’s are a fraud?? Those would be the people that wont be voting for the communist-in-chief next November: ie: intelligent, informed, analytical people: also mostly known as conservatives. Who doesnt know the #’s are deceptive? Well everybody else of course!
Maobama is going to be re-elected, and our Country will be permanently destroyed. Thank you liars in the media, liars in the White House, liars in the Congress. You have set out to destroy our Country, and in 10 months you will be celebrating your success in doing so.
***
HI MARSHALL_WILL–#24. Your idea for the Doc_Dump_Dozer is a pretty good one. If it uses the Chevvy Dolt extended bury time battery upgrade it can light off the evidence at the same time it buries it!
***
Kills 2 birds with 1 stone. Also runs up the Chevvy Dolt parts replacement profits. And no need to keep telling Rep. Issa and the rest of the congressional investigating committees that “The dog ate my E-mails again!” Comrade Obama’s dog BO must be getting real indigestion and rear end paper cut problems by now.
***
John Bibb
***
rocketman said,
See? That’s why John gets paid the big bucks! Put a formerly self-employed Registered Republican at the wheel and you’ve hit the decepta-trifecta!
And where are all the legions of adamant bubble bloggers to slam the Gov. job #’s that were at the ready to decry their validity when the Housing Bust was Booosh’s fault?
Never around when you need them…
No disrespect intended to our gracious hostess!
This is not politics as usual, this is a war on freedom and those defending it.
I feel sick.
A state that LOVES their progressives. Hey Mass, you voted for him, and no doubt will again.
Regarding those BLS unemployment numbers, ALL media including Fox News is accepting the administration BS about the 1.2 million drop in the labor force being do to the new census data being factored into the model reflects a bump in the assumed population of the US. That makes no sense as Zero Hedge and others have pointed out. Yet noted economist Charles Krauthammer was echoing the Obama explanation on Fox less than an hour ago.
Is there an “our” side at all? I can’t tell the difference between liberals, Democrats and Republicans anymore. Even on these threads. It’s all about raging against the status quo establishment while voting to re-elect it while warring against conservatives.
We so need a bitter, acrimonious brokered convention. We desperately need an opposition party yesterday but it looks more and more like the GOP will never be that party. A hard fought brokered convention would force the issue once and for all. Is there a “there” there?
Sure, they have their own health plan.
I believe Singapore is the latest hot spot for top-notch affordable health care.
NBC is right on top of this – digging deep into the deception….ah, no sorry, they are spending months discussing whether to air video of two bimbos drinking donkey semen.
Take a second look at those charts from Zero Hedge Michelle linked to. All charts spanning the last 10-50 years take us to the same conclusion: the economy went into a spiral as soon as Boosh was elected. Bush was an economic catastrophe, the biggest job killer in history, and the sooner “our side” accepts that, the sooner we can unite.
We need roll back government to 1998, not 2008.
At least those 43,000 can take solace in the fact that their COBRA payments will be higher as insurance companies have to pony up more cash to pay for the more expensive devices.
Try 1960.
That’s an extra $100 in the Castro.
Pasadena Phil,
Yeah, do us a favor and tell Tyler Durden to quit giving Team O’Drama any fresh ‘ideas’?
We knew this 3-card Monte was coming, so there shouldn’t be any ‘surprises’. There won’t be any fooling the public this time. That unemployed lump that’s been living on their couch for the last 2+ years tells them everything they need to know.
The upside is, we have months to point out the folly.
It’s ok folks, calm down.
GE Medical has already relocated to China.
Donkey seamen? Wow, the Navy will recruit anybody these days.
***
HI_PASADENA_PHIL–#30, #34. The old saying “figures can lie, and liars can figure” applies to the BLS statistics. The U6 unemployment / underemployment number is more believable–somewhere around 15 percent real unemployment.
***
Some of the Fox News hosts did question the reality of these latest BLS numbers. The total number of people working now is less than the number of those working in early 2008. And the total size of the workforce has grown due to population increase. The BLS numbers drop out those who have dropped out of the work force due to inability to find work or those who fell off unemployment benefits. The books really have been cooked.
***
It’s like the good news / bad news about the Titanic. The good news is that the sink rate has decreased to zero, and became a positive (ascending) number. The bad news is that it was just a “dead cat” bounce as it hit bottom and bounced up a foot before sinking into the mud forever thousands of feet underwater! A real optimist (or liar) can find a silver lining in any dark cloud if they look long enough.
***
As far as President Bush 43 being the “biggest job killer in history”–I think Comrade Obama has taken far higher honors in this department. The American Pravda Media decried the 5 percent or so unemployment rate in early 2008–The Good Comrade has beat him 2 to 1 with his nearly 10 percent rate.
***
President Bush 43 did overspend wildly from 2006 to 2008, and failed to veto the SanFranNan run House spending dreams that were attached to the funding bills to continue the fighting and surging in Iraq. Let alone the Obama”Care” disaster roaring down the track towards us now. President Reagan would have vetoed the spending and let the government shut down instead. But the bottom line shows far higher increase in the national debt under President Obama than it increased under President Bush. I think the debt numbers are about 4 to 1 at present.
***
John Bibb
***
Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles To Fresh 30 Year Low
The Labor Department estimated on Friday that the economy gained 243,000 jobs.
The department also estimated that the economy lost 2,689,000 jobs in the month.
All while we gained population ,which by the way did GW get that kind of bump in 2002 after the 2000 census ?
They always say we need 175000 just keep up with new people coming in !
During the worst housing crises since the great depression (caused by the democrats)the Communists have slipped in a sales tax on real estate to fund Obamacare!!Appears to me to be an aggressive and systematic assault on ALL private enterprise in the country!!Another four years of this and there won’t be anything left but government bureaucrats trying to enforce these bizzare regulations!!
Seem to recall Mr. GW’s arriving into an “economy” affected somewhat by an inherited tech-bubble bursting, and then also by 9/11.
I may have missed something here but if a tax is imposed on a medical device the cost of which is then covered by medicare (or “private” government imposed insurance) which is paid for with tax money, then the net result is most of the original tax is paid for with other tax money. I suppose the end users (us) get stuck with some additional amount of co-pay.
My mistake…trying to make any sense out of Obamacare. The only conclusion is that the aim is control.
I’m surprised they have not tried a tax on ammunition. They could kill two birds with one stone.
The actions of this regime go way beyond disregard for the Constitution and simple incompetence, they are clearly in the realm of malfeasance and insurrection against the Constution and Republic itself. The patriotic opposition has got to take the approach that we are in the middle of a soft coup d’etat.
You might as well try to understand pigeon Sanskrit. The whole point of Bananacare is chaos and open warfare on American society. The details of the “law” are irrelevant since it allows the government to do virtually anything it pleases.
You are 100% correct. As I said we are effectively in the middle of a soft coup d’etat.
Both political parties are at the center of the problem. We actually need another revolution I think, to flush the tank so to speak.
Like quarterbacks, Presidents often get too much credit and too much blame. e.g. Clinton got a second term due to the Gingrich Congress not any Liberal policies he pushed.
MORE JOBS ….. For China!?! Pretty soon, anything manufactured will be produced elsewhere because of assinine taxes and regulations here!?! Mandarin Chinese, anyone??? Nice goin’, Jackass-In-Chief!!!!!
OR MESSAGE!
More wealth for who? Oh, that’s right – Obama and friends.
No more than a nuclear-powered defibrillator would.
Don’t forget the lying voters who voted for this lying pResident saying what a great job he was doing.
Typical Dem action on the part of the pRez. Just doesn’t understand the common courtesy of a “reach around.”
The most truthful and clearly stated thing I have seen in recent memory. Thank you Forrest!
People who have given up on themselves vote for Democrats.
Kinda like everything we know about politics in a single simple declarative sentence.
Typical Leftist/Statist central-control economy solution as to how best to stimulate the productivity of the Golden-Egg-Laying Goose — tie a noose around its neck and keep pulling it tighter and tighter until it finally produces enough gold eggs.
The old USSR, Spain, and Greece are not clear enough examples for our current narcissistic wannabe Nanny State ruling “we know how to do Socialism better” fools.