The intellectually honest person will agree that ultimately the costs will be
paid by consumers, patients, employees of medical device companies and
tax-payers. You can be assured that medical device companies will be profitable.
It's not as though these costs are actually going to come out of the
businesses pockets and profits. C'mon people,think.
As Merit Medical noted, they are profitable and will find a way to pass on the
cost of this excise tax, whether it be to their employees or the consumer.
Because it is not a profits tax, small, innovative medical companies who are not
yet profitable are the ones that are at a disadvantage. The big companies
support the tax because it suppresses the small company competition. For a smart
man, Mr. Obama's insulation from the real world leads to his simplistic,
I do not know the mark up the for profit or non-profit hospital charges for the
$35 device. If I/we knew, we could comment on whether it is a reasonable tax
and if so whether the tax should be a sales tax charged to the hospital.
@Shimlau, so your saying that the system preferred by the Republicans (emergency
room treatment) is just fine and a mark-up of $3,000 for a $30 part is the
price we pay for the Republican Universal care plan, and this is a good system?
Got it.Yah yeah , the poor business owner who built it by himself,
can surely do it without those good for nothing leaches republicans constantly
harp on...employees, right?
"Well, you guys have had it too good for too long, and someone has to pay
for it, and we've chosen you"I suspect this same sort of
gloom and doom is being felt by many companies in the health care business
because of Obamacare. It cost jobs - lots of jobs - and we wonder why this
economy is still dragging in the mud with a president who can't wait to
levy taxes and penalties against corporations. I've given up caring
anymore. If the American people don't care about American business then
what chance will this economy ever have of recovering? America is becoming a
welfare state and corporations and their employees are paying for all the
handouts to the freeloaders.
One thing all the apologists for Obamacare have in common; they never ran a
business and they never had to make payroll every week.
Enjoy reading the comments, as folks show the strengths of what they know, yet
their limitations or blindsides by what they obviously don't know. I note
that at least, by his comment, Pres. Obama has at last publicly recognized that
someone has to pay for his schemes, that's an admission he will seldom
blatantly make. Of course he will not be paying for them.
Well said brave sir robin. I own a small business, and I can see for myself,
that the only person who pays tax is the end user, the consumer. everyone above
that in the trickle down part of the economy simply passes the tax down the
line. as to happy valley heretic, yes that $35 dollar device may have gone for
$3500. has it occured to you that hospitals, in order to maintain their tax
exempt status or tax free status, have to do a substantial amount of free
service? What have we been told about getting something for nothing. Someone
will have to pay in the end. Comprende?
Merit Medical's Basix Touch inflation device for angioplasties is the
newest.Hospitals pay about $35 for each device, and 2.3 percent of
that now helps pay for the law’s expansion.When My ex was in
hospital they charged her $37 for 2 Tylenol, so that $35 probably turns into
$3,500 on your bill thanks to capitalism in healthcare, and $2 is just over the
top, how will they or the hospital absorb such a devastating blow.They raise the sin taxes in this state without any of you patriots flinching,
but a tax that may help your neighbor live, is appalling?
Re: Schwa"I notice that cutting executive compensation was not
on his list of tough choices."Fits right in with the Republican
Mantra! Just Obama's way of trying to please you Righties!
Or they over time could raise their prices a whopping 3 percent.... because all
their competitors will be facing the exact same economic hurdle. This is no
different than having component cost increase, and figuring out how to back that
into the financial mix.That said, I do think this is one of the more
stupid taxes out there.... if you are trying to reduce the cost of health
care.... you don't tax health care more. This isn't like a use tax
where as you buy gasoline, you are helping pay for the roads you are using, and
I think the repeal of this particular tax was a reasonable request during the
last shutdown. They should float the repeal of this tax on its own.But comments like those from Chris B just crack me up. The last shut down
caused so much harm to the faith in US bonds that our interest rates will all
creep up now because someone wanted to make a point they knew they couldn't
win. Billions will be the cost to the government, and individuals, because of
the credit hit we all took when the US threatened to not pay its bills.
Seeing an example of a business that had to choose between firing people,
increasing costs (passed to patients), cutting salaries/benefits, and decreasing
donations to worthy causes in the community, and decreasing profitability (that
hurts every shareholder-like regular people with a 401k investing in stocks) do
democrats still want Romney's head on a pike for saying "Corporations
are people." I'm looking at all the options they had to consider and
the ones they ultimately picked. I don't see "big business"
suffering in the end...somehow a person always holds the bag. If only all
politicians, policymakers, and especially voters understood this concept...
2.3% of 35 dollars goes to Obamacare? Uh... can't they just increase prices
to 36 dollars if 2% is such a big deal?
Fred may not be complaining...but can the rest of us?
I believe the medical device tax is on "gross receipts" not just the
"profit" on, or even receipts for specific devices like the $35 item.
This increase in the cost of doing business will certainly be passed
along to consumers in the price of products.No free lunches for
anyone, but the bills still have to be paid, someway, some how.
I notice that cutting executive compensation was not on his list of tough
“His response was, ‘Well, you guys have had it too good for too
long, and someone has to pay for it, and we've chosen you,’”
Lampropoulos said.So, are all you Obama voters still happy? Do you
like the higher costs of insurance and treatments? D you really think the feds
can efficiently run healthcare? The above quote by Obama accurately reflects his
animus toward business and individual rights.
On the bright side, more covered Americans means more medical procedures
performed and more medical devices sold.
Med device companies aren't going to be left holding the bag. Merit may be
cutting back on benefits and donations in the short term, but as soon as their
GPO contracts are up for renewal, they'll simply pass the cost on to their
customers (hospitals), who will in turn pass the cost on to their customers
(patients). And just like that, the "Affordable" Care Act just made
medical care more expensive for you and me. That's the opposite of
affordable.When will Democrats realize that there's no such
thing as a tax on corporations? The only people you can tax are end users - all
you can do is change the vehicle through which they pay those taxes.
Wait for the overused "train wreck" spins to try to counter this.
The company no longer matches employees' 401(k) contributions, and it cut
donations to charities it used to support, such as The Leonardo and Junior
Jazz.So much for it not increasing the healthcare costs of Americans
as barack claimed.If companies are cutting 401k contributions, that
means its more expensive for Americans.Well barack?