Medical Companies: Taxes In Healthcare Bill Will Kill Jobs, Businesses

infowars.net...

One of the key selling points of the Obamacare health bill for the Democratic leadership was that it would provide tax breaks and credits for businesses to cover the cost of insurance for their employees. The Washington elite were somewhat less vocal, however, about huge tax increases that some companies now say may wipe them out altogether.

Medical device manufacturers have warned that a tax under the new health care overhaul on companies producing medical instruments and equipment will mean that jobs and manufacturing may have to be shifted out of the U.S. in order to secure already razor thin profits.

Beyond passing on costs to hospitals, surgeries, ambulance companies and the like, the options for the medical device industry are to cut research and development and then shift their production bases abroad.

Ernie Whiton, chief financial officer of Zoll Medical Corp., tells the Boston Herald “This bill is a jobs killer”.

“We could be forced to (move) manufacturing overseas if we can’t pass along these costs to our customers,” said Whiton.

Zoll, the leading manufacturer of heart defibrillators, employs around 650 people at its manufacturing facility in Massachusetts, and a further 1000 across the country.

"We believe that the tax will cost us somewhere between $5 million and $10 million a year," Richard Packer, Zoll's chairman and chief executive officer told The Washington Examiner this week. "Our profit in 2009 was $9.5 million."

For all of you who foolish support this bill know that you are KILLING america. It is not a fight between Democrats and Republicans. It is a fight between AMERICA and Fascism!

This will be great for some...


Doc

I think we can expect to see many more announcements, from large companies, regarding their projections on the cost of the "reform". John Deere and Caterpillar have, already predicted $150 million and $100 million added expenses, respectively, due to the passage of this bill.

Ultimately, it is we the consumer, who will shoulder all of these new taxes and tax increases.

Hooray!!! For Chinese made medical devices!

Well, all I have to say is that some people got what they wanted. I have a very strong belief that in about 10 years the "Great Progressive Experiment" will be dead. I hope so at least.

reply to post by WTFover

Ultimately, it is we the consumer, who will shoulder all of these new taxes and tax increases.

Very true.

That's why I don't really see the article above as sincere. especially this part.

“We could be forced to (move) manufacturing overseas if we can’t pass along these costs to our customers,” said Whiton.

What does he mean by IF? He knows they can do it.

Are they looking for a reason to move overseas or are they trying to get the public use to the increased price they will pay?

Originally posted by jam321
Are they looking for a reason to move overseas or are they trying to get the public use to the increased price they will pay?

Unfortunately, moving manufacturing jobs out of the country seems to be all the rage, these days. And, I believe this has contributed, largely, to our current problems, including the number of uninsured.

Well AT&T has already stated that this passage is going to cause it a 1 billion dollar deficit and they are going to have to lay off people to pay for all of the taxes and additional health insurance that will be required. It has begun.

Sounds like scare-mongering to me

Weren't they paying health insurance for their employees before ?

Do any of the whiners have shares in the obscene and obcenely lucrative insurance rackets which have been holding the US public to ransom ?

Were employers receiving kick-backs from those same obscene insurance rackets ? Has their gravy-train come to a halt ?

reply to post by Dock9


Yes, they already provide health insurance for their employees, but they were able to write a bunch of it off. With this Health Care bill they are no longer able to write off he Medicare Part D taxes, which means they have to pay out of pocket with that. Hence they have to pay 1 billion dollars.

reply to post by Light of Night

Hence they have to pay 1 billion dollars.

You mean, hence WE have to pay 1 billion dollars.

Where do companies get the money to pay their taxes?

reply to post by jam321


That whole they=we concept is one which many supporters can't seem to get a handle on. It exists in the Bush-Obama "stimulus" packages, as well. It always rolls downhill.

[edit on 28-3-2010 by WTFover]

Originally posted by Vinveezy

For all of you who foolish support this bill know that you are KILLING america. It is not a fight between Democrats and Republicans. It is a fight between AMERICA and Fascism!

OH NO!!!!! The companies that charge Americans MORE than they charge people in other countries might suffer? The companies that have raised their rates more than 4 times the rate of inflation over the last few years might lose money? The same companies that spend millions of dollars ADVERTISING PRESCRIPTION DRUGS might have to cut profits, stop making pointless ads, or cut jobs?

Oh those poor poor medical companies. My heart really goes out to them Good thing people like you look out for them because the only thing they care about is you being healthy so they can give you a job.

Oh, it's about to get pretty ugly. I was just in THIS THREAD but bowed out as soon as I was told I should feel fortunate. I figured it wasn't worth it to continue with the unreasonable about what all is about to happen.

Or reading posts like THIS that boil disapproval with the Health care bill as just bigots who dislike blacks, women, Hispanics, and gays.

This will be my last post regarding the health care issue. It's not JUST about the tax increases. Hey, it's easy to be generous with other people's money, right? It's not JUST that people and companies will be forced to purchase insurance and if they don't they'll get fined. For most, it has nothing to do with those who supported the bill.

It's due to what's about to happen. Things are about to get really expensive. Those companies will be laying off a lot of people in order to afford the new tax hikes and paying for insurance plans. If they don't leave the country all together.

Now not only will some not have insurance, they won't have jobs either. But they better find some insurance real quick or face the fines.

And you can bet those costs will be passed to the consumer. Even your grocery bills are going to skyrocket. Some are thinking only 'the rich' are paying for it because it's their taxes that are increased. Or only the corporations are going to pay for it because they have to pay for the insurance plans. So they're happy as clams thinking it's 'the other guys' who are paying.

They're in for a rude awakening. My prediction is that we haven't seen anything yet in terms of the uninsured and the unemployed.

Then again, I'm just scared because I don't like women, blacks, Hispanics, and gays, right? We're just out to get Obama at any cost, right? No, it has nothing to do that I'm terrified for my fellow countrymen's futures. At least pre-existing conditions can't be denied now, right? As if we couldn't have regulated that without screwing everyone.

/sarcasm.

All I can say is that I hope I'm terribly wrong. I'd rather be wrong than be saying 'We told you so.' But this is going to hurt the little guy A LOT more than these people thing. These companies are NOT going to take a loss. It's going straight down to you and me.

reply to post by AshleyD


What many Americans don't realize is that this bill will tax all Americans. The way is being shown is not correct.

For example, the tax on tanning salon and tax to the insurance companies is being applauded by many.

These taxes are merely going to be passed on to the consumers.

Once again where do companies get the money to pay taxes?

Companies will always find a way to maintain their profit.

Right! Name something the government has done that has actually worked the way they said it would? They said it would reduce cost - wrong! They said it would save jobs and money - wrong! They said alot fo things, none of them true!

reply to post by jam321


Oh, trust me. I understand.

There's more taxes in that bill than people are being told. It's not just 'the evil rich so it's OK' that so many people think. Additionally, there's a lot more drawbacks than I mentioned in my previous post above.

But supporters just keep parroting the 'pre-existing conditions can't be denied now!' benefit and the accusation that if you don't agree then you just don't like Obama or minorities or somehow aren't an altruistic person that wants to help people.

It's just not worth the headache to try to debate the Mad Hatter, in other words. That's my opinion on it. Like I said, it looks like things are going to get rough and those who think 'it's the other guy' that will be footing the bill are in for a bad surprise.

I hope to have egg on my face, though, and that all will end well. I just don't see how. I'm genuinely concerned for the country and it has nothing to do with what demographic is supporting the bill or opposing it.

The most ironic thing is that the only way you can really reduce the costs of healthare is buy increasing the supply. I.e. more MRI machines, more US machines, more CT machines, more of the most expensive machines we use nowadays in healthcare. But these machines are expensive you say? Well of course........so were televisions back in the day. So how do you bring down the costs of these diagonistic tools? You spur private innovation and enterprise by coming out with more efficient and technologically advancec machinery thus making older versions cheaper. That's how it was done with computers. and cars and just about everything we have invented in the last 100 years. But this is going to do the exact opposite. It's going to stifle private innovation and technological advancement.

Those who think this is good seem to be confusing these small manufacturers with big corporations. Not realizing these companies and their customers(medical supply companies) barely make any profit if at all, many forced to increase prices, reduce quality and refuse sales or go out of business and/or merge with the bigger corrupted companies. For years it has been like that and getting worse, now they have to deal with this too? Just great, eh?

The "debate" over the healthcare programme is pretty hilarious to anyone outside the US who's grown up with healthcare free at the point of provision, which is most of Europe, Canada... the civilised world, really.

Most of us see it as absolutely civilised that no-one should be left to die on the street, or turfed out of a hospital bed because they can't pay. If the US spent a little less on invading other countries and providing freebies to their greedy corporations, they might be able to afford healthcare for their citizens.

But the propaganda rolls on... "Steven Hawking would have died if he'd had to live under socialized health care!" Hilarious.

Reality check: the HMOs are making obscene profits, likewise Big Pharma, under the US system. And of course by the time any act gets passed, their lobbyists will have ensured that that state of affairs will continue.

Cuba can afford health care for its citizens. Mind you, when was the last time they invaded anyone?

RAISE TARIFFS NOW!!!!!

Our trade policies are killing America. Things like this happen because we don't protect our businesses...and they can't compete without paying their employees next to nothing...cutting out all benefits.

We need to change our trade policies immediately!

2 to 3 percent tariff is not enough when countries like china have over a 20 percent tariff. IT'S KILLING OUR ECONOMY. Our imports/exports are completely out of whack...and surprise surprise...it only gets better as the dollar weakens.

THIS HAS TO BE DONE or the middle class will completely disappear.


[edit on 28-3-2010 by David9176]

[edit on 28-3-2010 by David9176]