Comments on: The Oracle Oregon fiasco, crying wolf on an Obamacare tax, and anointing the ‘Politico 50′ http://blogs.reuters.com/stories-id-like-to-see/2013/12/31/the-oracle-oregon-fiasco-crying-wolf-on-an-obamacare-tax-and-anointing-the-politico-50/ Steven Brill Tue, 19 Aug 2014 18:30:28 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: AndyFurniss http://blogs.reuters.com/stories-id-like-to-see/2013/12/31/the-oracle-oregon-fiasco-crying-wolf-on-an-obamacare-tax-and-anointing-the-politico-50/comment-page-1/#comment-501 Mon, 06 Jan 2014 20:09:07 +0000 http://blogs.reuters.com/stories-id-like-to-see/?p=1311#comment-501 As an owner of a small medical device manufacturer in Ohio, I applaud the efforts of companies like Cook Medical that have worked very hard to get the word out about the Medical Device Tax and its impact. My company manufactures equipment primarily utilized by Medicare patients so the sales job on ‘more patients being covered equals more business’ is a joke. Ironically, our type of product was invented as the solution to a better, lower cost rehab for the patient 25 years ago. Yet as a device manufacturer we’re supposedly responsible for rising healthcare costs. Our industry has had a price war for the last 10 years….not going up, but going down. To compete in today’s market we have to find ways to sell for less and last longer. A little more difficult when we have to hand over 2.3% off the top to Uncle Sam every 15 days, 12 months a year. Votes in November seem to be our only hope at this point.

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By: BidnisMan http://blogs.reuters.com/stories-id-like-to-see/2013/12/31/the-oracle-oregon-fiasco-crying-wolf-on-an-obamacare-tax-and-anointing-the-politico-50/comment-page-1/#comment-500 Thu, 02 Jan 2014 17:41:31 +0000 http://blogs.reuters.com/stories-id-like-to-see/?p=1311#comment-500 Bah. Larry is probably on his yacht cracking jokes about the 99.9% while taking in bath in a tub filled with Moet.

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By: JohnEckberg http://blogs.reuters.com/stories-id-like-to-see/2013/12/31/the-oracle-oregon-fiasco-crying-wolf-on-an-obamacare-tax-and-anointing-the-politico-50/comment-page-1/#comment-499 Thu, 02 Jan 2014 12:32:19 +0000 http://blogs.reuters.com/stories-id-like-to-see/?p=1311#comment-499 Mr.Brill continues to spread misconceptions about this tax, which four of five Senators (three of five Democrat Senators) want repealed. First off, newly insured Americans will not translate into a wave of new devices sold. Those patients are already getting medical devices as needed and when they are needed. No EMT fishes for an insurance card in the pocket of a passenger involved in a car wreck before a drainage catheter is placed or defibrillator paddles are applied.

While Mr. Brill continues to focus on the profits of one giant company, Medtronic, and the orthopedic sector of medicine he fails to understand the damage that this tax on gross sales has had on innovation, jobs and patients. Estimates range from 7,000 companies in this space to more than 15,000 and with profit margins averaging less than 4 percent, Medtronic is clearly an outlier.

Why does that overwhelming and bi-partisan majority of lawmakers want this tax repealed? Not because of lobbyists. They want it repealed because they now understand, thanks to a grassroots groundswell from the industry, that this tax burdens the balance sheet of a company in this sector by claiming the equivalent of an $85,000 a year job each and every 20 minute since January 2013.

For a firm with U.S. sales of $1 billion annually, the tax bleeds from their balance sheet the equivalent of a $65,000 a year job every other day. Maybe Mr. Brill should stand at the padlocked gates of any number of factories that have left the U.S. for Costa Rica, Singapore and Ireland and see firsthand the trauma caused by this tax in 2013. He should sit down at the kitchen tables of thousands of workers who have lost their jobs and explain to them that this tax, which is a 30 percent increase for the average firm, was no big deal.

For some unfortunate companies, it claimed ALL the profits from 2012 and some, like Alex Gomez of New Wave Surgical of Florida, have had to take out loans to pay their new tax bill. It’s no surprise that more than 11,000 employees from about 3,000 companies in the U.S. signed a petition at www.no2point3.com to urge representatives to repeal this tax. In the interest of full disclosure, I am the media relations director at Cook Medical.

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