Tuesday, March 23, 2010

CRASH: ObamaCare Begins Killing American Jobs Immediately

Remember when Crazy Nannie Pelosi told us that ObamaCare would create "4 million jobs...400,000 almost immediately"?  Remember that whopper?

Well, we know that about 17,000 new IRS agents will be needed to TRY TO force us to comply with ObamaCare.  But that's a long way short of 400,000.

We KNOW, because we are not economic idiots, that ObamaCare will be a job killer, as well as a terrible anchor on our economy.  Guaranteed.

Remember yesterday, when I spoke of mourning the loss of the next new thing, and the loss of American economic vitality?  Bryon York has this today:

The next option is to cut research and development -- a short-term, money-saving move that will surely cost Zoll down the road. And a third option, says Packer, is to "look at trying to shift jobs to lower-cost places around the world." That would be bad news for Massachusetts and the USA.

It's still not clear precisely how the new system will work. The Senate bill, which becomes law as soon the the president signs it, imposes the $2 billion annual tax on the industry starting almost immediately. The government would calculate the size of the entire medical device industry and charge each company a fee based on its share of the market. That's how Zoll estimates its part will be $5 million to $10 million.

For Zoll, that's the worst-case scenario. Things will be a bit better if the Senate approves the reconciliation bill passed on Sunday by the House. One of the "fixes" in the reconciliation bill would impose a 2.3 percent excise tax on medical devices, going into effect in 2013. Even though it would cost the company about the same amount of money, Zoll executives prefer that scenario, if only because the delayed onset would give them time to prepare.

No matter what happens, the makers of the devices that save our lives are going to take a major hit.

Collectivism: destroys choice, competition, and lowers the standard of living...every time it's tried!

LINKED at Doug Ross Journal

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