medical-companies-taxes-in-healthcare-bill-will-kill-jobs-businesses

Medical device manufacturers have warned that a tax under the new health care overhaul on companies producing medical instruments and equipment will mean that jobs and manufacturing may have to be shifted out of the U.S. in order to secure already razor thin profits.

Beyond passing on costs to hospitals, surgeries, ambulance companies and the like, the options for the medical device industry are to cut research and development and then shift their production bases abroad.

Ernie Whiton, chief financial officer of Zoll Medical Corp., tells the Boston Herald “This bill is a jobs killer”.

“We could be forced to (move) manufacturing overseas if we can’t pass along these costs to our customers,” said Whiton.

Zoll, the leading manufacturer of heart defibrillators, employs around 650 people at its manufacturing facility in Massachusetts, and a further 1000 across the country.

“We believe that the tax will cost us somewhere between $5 million and $10 million a year,” Richard Packer, Zoll’s chairman and chief executive officer told The Washington Examiner this week. “Our profit in 2009 was $9.5 million.”

If there are any medical device manufacturer's out there..this might be the time to stand up and say this is either true or not true

Medical device manufacturers have warned that a tax under the new health care overhaul on companies producing medical instruments and equipment will mean that jobs and manufacturing may have to be shifted out of the U.S. in order to secure already razor thin profits.

Beyond passing on costs to hospitals, surgeries, ambulance companies and the like, the options for the medical device industry are to cut research and development and then shift their production bases abroad.

Of course Bill you conveniently ignore the fact that it costs a lot of Money to make these devices and by cutting into profits..what you actually do is send these people overseas to a more friendly corporate tax rate..What do you think has been happening over the last few years..

WASHINGTON, Jan. 11, 2011 /PRNewswire/ -- U.S. corporations are making fewer domestic hires and investing less in U.S. operations, due to cash trapped overseas, according to a recent survey from the Association for Financial Professionals (AFP). High U.S. corporate tax rates create an incentive for companies to leave cash abroad, often permanently.

In follow-up questions to AFP's recent 2011 Business Outlook Survey, 26% of respondents with operations abroad say that excessive U.S. corporate tax discourages their organization from bringing cash back to the U.S. and using it to invest in corporate growth in the form of new hires, capital investments, or research and development.

But of course I don't think I am dealing with the brightest bulb in the pack

forgot the link

http://www.prnewswire.com/news-releases/big-us-tax-on-overseas-earnings-means-fewer-jobs-here-finance-pros-say-113267769.html