Obamacare medical devices tax kills 33,000 jobs
A new study reveals that nearly 33,000 jobs have been impacted due to the Affordable Care Act’s medical device excise tax.It is just more evidence of a poorly though out law that becomes more indefensible everyday. It is more evidence that Democrats like Nancy Pelosi were dead wrong when they said the law would create jobs. This law is causing more people to lose insurance than get it and is costing more for most people who still have it. Obama is making a huge mistake by bitterly clinging to this bad law.
The report comes from the Advanced Medical Technology Association following an online survey of member companies last year.
“According to the report, the tax has led to employment reductions of approximately 14,000 industry workers and foregone hiring of 19,000 workers,” the study stated. “The total job impact of the tax on industry employment was approximately 33,000.”
Stephen J. Ubl, CEO of AdvaMed, said this tax needs to be repealed.
“During a time when there is bipartisan support for growing high-technology manufacturing jobs, these results should serve as a wake-up call. As a result of the medical device tax, we have seen an unprecedented impact on jobs and key investments in R&D (research and development),” Ubl said. “The findings of the report underscore the need to repeal this tax.”