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The Disaster Of Taxing Medical Devices

October 30, 2009

ObamaCare promises to make medicine cheaper by making it costlier. Case in point: a brand-new tax on medical devices.

Manufacturers of pacemakers, stents, heart valves, artificial hips, motorized wheelchairs, and other therapeutic instruments will pay a new tax.  Tax companies that generate health-advancing, life-saving mechanisms.

A 10-year, $4 billion annual tax on medical implements that retail for $100 or more.

This $4 billion yearly tax exceeds the industry’s $3.7 billion in venture-capital receipts for 2007 and is more than 40 percent of that year’s sector-wide research and development outlay of $9.6 billion.

This tax approximates one-sixth of annual industry profits.

This new tax would endanger patients’ health and threaten their lives.

Why not simply pay corporate taxes?

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