What is the medical device tax? The $20B tax was included in the Affordable Care Act that was signed into law in 2010. The amount is based on a 2.3% excise tax that will be levied on the total revenues of a company, regardless of whether a company generates a profit, starting in 2013. Many companies will owe more in taxes than they generate from their operations. The result will be devastating to innovation, patient care and job creation. I copied and pasted this from Google this morning. The companies who make this equipment will have no choice but to pass this cost on to the people who buy the medical devices (wheelchairs, walkers, oxygen machines, hospital beds, anything which would be considered to be a medical device). What this says to me is that handicapped people, who obviously can least afford it, will be burdened with yet another expense in order to generate more tax money for our government to waste. Is there no end to what these buzzards will do to line their pockets?
Posted on: Sun, 29 Sep 2013 16:23:46 +0000
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