"Vote! Voting is the best revenge." - Barack H. Obama, Nov. 2, 2012
"We have to pass the bill so you can find out what's in it."
- Then-House Speaker Nancy Pelosi, March 9, 2010
CBS-TV's D.C. affiliate reports:
MEMPHIS, Tenn. (CBSDC) — A medical company is blaming President Obama’s health care law for the layoffs of nearly 100 people.
Smith & Nephew says a 2.3 percent excise tax on medical devices in the “Obamacare” law caused the layoffs in the Memphis and Andover, Mass., offices.
“The nearly $30 billion tax on medical devices that took effect Jan. 1, 2013, has impacted a number of companies across the U.S.,” the company said in a statement to WHBQ-TV.
Joe Metzger, senior vice president of corporate communications for the company, tells the Memphis Business Journal that they were “not immune” to the tax burden.
“Unfortunately, and in order to absorb this cost burden into our business, this has meant less than 100 positions have been made redundant across various departmental functions in our Tennessee and Massachusetts sites,” Metzger told the Business Journal. “The company is providing the affected employees with a comprehensiveseverance package and outplacement support.”
The Business Journal reports that the company announced last February it would lay off 7 percent of its workforce worldwide.
The tax took effect on Jan. 1.
This is just 100 jobs from one company. But opponents of Obama(PretendsTo)Care have been warning about the nationwide damage the tax will create, such as American Action Forum:
But don't worry: Not all medical companies will be closing up shop due to this punitive tax on their products. Most of them will just pass the tax on to you, the consumer. Next time you buy medical supplies of any shape, size, or price, check the bottom of your receipt. It's been happening for a month already.