Wednesday, May 19, 2010

ObamaCare©: Consequences Update

It may be considered bad sportsmanship to "pile on," but sometimes it's necessary. When Queen Nan said we'd have to "pass the bill to see what's in it," she wasn't kidding:

"Massachusetts medical-device companies say they’ll cut back on operational costs - and jobs - after a planned 2.3 percent tax on their products is implemented in 2013, according to a new survey."

The issue is that ObamaCare© mandates a new excise tax on certain classes of medical devices (including certain female-related products). This in turn is creating a chilling effect amongst those companies doing R&D on the next generation of life-saving devices. Which of course is good news for some, since it will mean less demand as these folks die off.

[Hat tip: HotAir]

Which brings us to Florida [ed: nice segue there, Henry], which is not entirely enamored of ObamaCare©'s "individual mandate." In addition to being evil, the mandate may well be an unconstitutional expansion of government power. At least that's what the Sunshine State's Attorney General thinks:

"The power of their argument lies in questioning whether Congress can regulate inactivity — in this case by levying a tax penalty on those who do not obtain health insurance. If so, they ask, what would theoretically prevent the government from mandating all manner of acts in the national interest, say regular exercise or buying an American car?"

A point we've raised numerous times, as well.

There are other less obvious costs, as well. FoIB Lyndsi Thomas directs us to this piece in the well-respected City Journal, where the Manhattan Institute's Center for Medical Progress' Paul Howard "touches on the tax levied on businesses for the partial federal subsidy that they receive for each retiree, the proposed Medicare cuts, $5 billion fund set up to offset health-care expenses for early retirees, and generally how the new law will cost taxpayers far more than expected and send health-care spending into the stratosphere."

Lots of red meat there.
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