Shea-Porter is clinging to the idea that the health care bill she deemed passed will create jobs. But like most progressive undertakings it will destroy two to three times as many jobs as are forced into existence by the distant, egg head, committee appointees in DC. Net loss, ship sinks, economy drowns.
With that in mind Ben Domenech at RedState has this. It suggests the path to job loss created by the bills provisions, you know the ones we can fix later. Of course the taxes created to supposedly pay for the bill, are the ones destroying the jobs. That’s the liberal-progressive equivalent to free market process of creative destruction; it’s just called destruction.
Companies that innovate, create, and develop life-saving, life-improving devices will likely lose jobs too. Manufacturers of medical devices are reeling from a provision of the law that will levy a $20 billion excise tax on their industry. The Boston Globe reported that the 2.3 percent excise tax on companies that supply medical devices like heart defibrillators and surgical tools to hospitals, health centers and ambulance services, “will force industry leaders to lay off workers and curb the research and development of new medical tools.” One CEO said the new tax threatens his business‘ sustainability because it has relegated his company‘s profitability to merely a break-even position.
The basic problem with the tax is one of math. “Many small to midsize medical device companies will owe more to the federal government in taxes than they make in profits,” according to Mark Leahy, head of the Medical Device Manufacturers Association. “We’re talking about a 2.3 percent tax on total sales, irrespective of whether a company is making a profit.”
So how do you say you pay for it, and you create jobs, when the way you plan to pay for it, destroys jobs? You lie.
That’s what the democrats who even dare to comment on what they have done are doing. Lying. That would include Carol Seiu-Porter and Paul Hodes the job killing two-some soon to be former congresspersons from New Hampshire.
H/T RedState
