Tax Reform, Universal Health Care, US Taxes

ObamaCare Fallout – First of Many

An Indiana medical equipment company has announced a halt to expansion plans in the wake of ObamaCare and it’s uncertain future.

The Affordable Care Act imposes a 2.3 percent tax on medical devices beginning in 2013. But a Cook Medical spokesman said the impact is more likely 15 percent and will result in a major drain on corporate profits.

As such, Cook Medical has scrapped plans to open five new plants over the next several years until the ACA is fully repealed.

This should not be surprising. It won’t be long until howls of derision about corporate greed start being flung at Cook Medical.

Read more: http://www.foxnews.com/politics/2012/07/27/indiana-company-scraps-plans-for-expansion-over-obamacare-device-tax/?cmpid=cmty_twitter_Indiana_company_scraps_plans_for_expansion_over_ObamaCare_device_tax#ixzz22Deplu88

Read more at: Fox News

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