The Obamacare medical device tax is hitting device makers.
“Stryker Corp. (NYSE:SYK) officials said the company plans to cut 5 percent of its workforce over concerns about the impending 2.3 percent medical device tax prescribed by President Barack Obama’s health care overhaul.
The Kalamazoo, Mich.-based orthopedic device giant expects layoffs and restructuring efforts to reduce costs by more than $100 million before the tax takes effect in 2013…”
It will have a significant effect on innovation and the creation of revolutionary devices for transplants.
There are no end to the taxes under Obama in general and there will be no end to the jobs the taxes will kill.