I never understood the virtue of the Obamacare tax on durable medical equipment and supplies. I mean, if you want to keep prices down, why tax these items, the added expense for which will just be passed along to the insurance companies raising their costs and our premiums? Although, if quasi-rationing is the point, it does have a definite logic: raise prices, reduce demand.
In that regard, the tax has apparently so hurt a medical manufacturer’s bottom line that it has laid off nearly 100 workers. From the Memphis Business Journal story:
Smith & Nephew Orthopedics is laying off an estimated 100 employees in Memphis and Andover, Mass., citing the 2.3 percent excise tax on orthopedic device companies as the reason. Joe Metzger, senior vice president of corporate communications for Smith & Nephew, said the tax is impacting “a number of companies across the U.S.”
What a load of manure. We all know it’s Bush’s fault.