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Response to graham4anything (Original post)

Tue Nov 27, 2012, 07:31 AM

45. Medical Device Excise Tax to Have a Significant Impact on Industry Profits in the New Year

The medical device excise tax, which was designed to support the Affordable Care Act, places a 2.3 percent levy on all sales of medical devices regardless if a company makes a profit or not. Despite not taking effect until January 1, 2013, many companies have already announced job cuts and delayed expansion plans in preparation for the tax.

"American already has the highest corporate tax rates in the world," AdvaMed senior executive vice president David Nexon told reporters today. "To load this additional burden on an industry which is so important to our economy and which is facing a strong international competitive pressure makes no sense at all; it flies in the face of everything tax reform is supposed to achieve."

http://finance.yahoo.com/news/medical-device-excise-tax-significant-132000919.html

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