ObamaCare ‘Threatens Thousands Of American Jobs’

Democrat Former Senator Who Voted For ObamaCare Exposes Real World Consequences

Former Sen. Evan Bayh (D-IN): ‘Threatens Thousands Of American Jobs’

“A 2.3% tax on medical-device sales, not profits, was imposed… there will be little or no increase in sales volume to offset the added cost of $30 billion—according to the Congressional Budget Office—to the industry. This tax comes straight out of a company's bottom line.” (“Evan Bayh: ObamaCare's Tax Raid On Medical Devices,” The Wall Street Journal, 9/27/12)

• “The hit will be severe. For a typical company, a 2.3% tax on revenues equals a 15% tax on profits. When combined with a 35% corporate tax and state corporate taxes, the tax rate for the medical-device industry will exceed 50% in most jurisdictions. Many marginally profitable businesses will then hemorrhage red ink, since they'll have to pay the excise tax whether they are making money or not.” (“Evan Bayh: ObamaCare's Tax Raid On Medical Devices,” The Wall Street Journal, 9/27/12)
  
  “…tax on medical devices that threatens thousands of American jobs…” (“Evan Bayh: ObamaCare's Tax Raid On Medical Devices,” The Wall Street Journal, 9/27/12)

• “This month, Welch Allyn—a maker of stethoscopes and blood-pressure cuffs—announced that it will lay off 10% of its global workforce over the next three years, but all of the jobs being cut are in the U.S.” (“Evan Bayh: ObamaCare's Tax Raid On Medical Devices,” The Wall Street Journal, 9/27/12)

• “In my state of Indiana alone, Cook Medical has canceled plans to build one new U.S. facility annually in each of the next several years, and Zimmer plans to lay off 450 workers, while Hill-Rom expects to lay off 200. Stryker, based in Michigan, anticipates having to lay off 1,000 workers.” (“Evan Bayh: ObamaCare's Tax Raid On Medical Devices,” The Wall Street Journal, 9/27/12)

Sen. Bayh Voted For ObamaCare Twice

Sen. Bayh voted for the Patient Protection and Affordable Care Act. (H.R. 3590, Roll Call Vote #396, Passed 60-39: R 0-39; D 58-0; I 2-0, Bayh Voted Yea, 11/24/09)

• Sen. Bayh voted for the Health Care and Education Reconciliation Act. (H.R. 4872, Roll Call Vote #105, Passed 56-43: R 0-40; D 54-3; I 2-0, Bayh Voted Yea, 3/25/10)

House Bipartisan Passed Bill To Repeal Excise Tax On Medical Devices - Senate Dems Refuse To Vote On The Bill

Republicans led a bipartisan the effort to repeal part of Obamacare. They passed passed H.R. 436 (270-146) - amending the Internal Revenue Code of 1986 to repeal the excise tax on medical devices. Thirty-seven democrats joined 233 Republicans in passing the bill. However, House Minority Leader Nancy Pelosi led 146 democrats to vote to continue her 2.3 percent ObamaCare excise tax on medical devises. . . . Now, will the Senate and President Obama support this repeal of the excise tax on medical devises?" (ARRA News Service, House Repeals Medical Device Excise Tax, 6/8/2012)

---

Tags: Obamacare, threatens jobs, American jobs Senate refuses to Act, House Bill 436 To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!