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As you’re popping the champagne to celebrate today’s three-year anniversary of Obamacare (not to celebrate, to drink yourself into a stupor), take a moment to remember one of the awful law’s most awful provisions: the medical devices tax. The levy amounts to 2.3% on the sale of every device, an equivalent of a 15% tax on profits. In anticipation of the tax, investment in the medical equipment industry tumbled 13% in dollars and 15% in deals in 2012, according to Pricewaterhousecoopers.
Now even some Democrats have had enough:
A Senate amendment to repeal a tax on medical device sales got overwhelming support late Thursday, but it appears the resolution will have little impact since the measure is part of the Democratic-controlled body’s 2014 government spending plan and is unlikely to be passed by the House. …
The measure, which calls for the repeal of the 2.3% tax, got overwhelming support in a 79-20 vote, including 33 Democrats who voted with Republicans. The tax was created as part of the 2010 health-care overhaul in order to help fund several of the initiatives laid out in the bill.
Alarm bells should be sounding in House Republican offices: whatever the final budget looks like, make sure a repeal of the medical devices tax is included. The only reason for the tax in the first place was to bolster the fantasy that Obamacare was deficit-neutral. It’s now clear that Obamacare won’t be deficit-neutral even with the tax. So there’s not a single political or policy reason for Congress to let it stand.
In related news, the FDA has mericifully decided not to tax smartphones as medical devices.
A man of faith in a godless age is hitting Americans where it hurts.
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
In Britain, defending your property can get you life.
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
Was the President done in by the economy, or by the politics of the economy?