Wednesday, December 19, 2012

The med-tech tax and job losses

Around 40% of medical device industry executives believe that the looming excise tax on the industry (to pay for a tiny sliver of Obamacare, mostly for symbolism purposes) will kill jobs in that high-wage, global-beating industry. I'm surprised the number is not more like 100%, but the effect on any individual company is pretty random and even most people in the industry do not understand how the tax works. I've explained it to our own leadership more than once, but it is so arcane that even the big four accounting firms are only now converging on a consensus about the best way to handle it.

As they used to say about nuclear power, helluva way to boil water raise revenue.

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