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Indiana company scraps plans for expansion over ObamaCare
28 Jul 2012 19:09 #1
by otisptoadwater
By Judson Berger/Published July 27, 2012/FoxNews.com
An Indiana-based medical equipment manufacturer says it's scrapping plans to open five new plants in the coming years because of a looming tax tied to President Obama's health care overhaul law.
Cook Medical claims the tax on medical devices, set to take effect next year, will cost the company roughly $20 million a year, cutting into money that would otherwise go toward expanding into new facilities over the next five years.
"This is the equivalent of about a plant a year that we're not going to be able to build," a company spokesman told FoxNews.com.
Read more: http://www.foxnews.com/politics/2012/07/27/indiana-company-scraps-plans-for-expansion-over-obamacare-device-tax/#ixzz21y9uKMUb
Obama and demand side economics in action. How's that for job creation and economic recovery?!
I can explain it to you but I can't understand it for you.
"Any man who thinks he can be happy and prosperous by letting the Government take care of him; better take a closer look at the American Indian." - Henry Ford
Corruptissima re publica plurimae leges; When the Republic is at its most corrupt the laws are most numerous. - Publius Cornelius Tacitus
By Judson Berger/Published July 27, 2012/FoxNews.com
An Indiana-based medical equipment manufacturer says it's scrapping plans to open five new plants in the coming years because of a looming tax tied to President Obama's health care overhaul law.
Cook Medical claims the tax on medical devices, set to take effect next year, will cost the company roughly $20 million a year, cutting into money that would otherwise go toward expanding into new facilities over the next five years.
"This is the equivalent of about a plant a year that we're not going to be able to build," a company spokesman told FoxNews.com.
Read more: http://www.foxnews.com/politics/2012/07/27/indiana-company-scraps-plans-for-expansion-over-obamacare-device-tax/#ixzz21y9uKMUb
Obama and demand side economics in action. How's that for job creation and economic recovery?!
I can explain it to you but I can't understand it for you.
"Any man who thinks he can be happy and prosperous by letting the Government take care of him; better take a closer look at the American Indian." - Henry Ford
Corruptissima re publica plurimae leges; When the Republic is at its most corrupt the laws are most numerous. - Publius Cornelius Tacitus
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