Tuesday, January 03, 2012

Medical device manufacturers to Obamacare: "Adios!" - And they're taking their jobs with them: "Obamacare's dangerous device tax."


Anonymous said...

Stryker Corp. has also just announced the same proportionate amount of layoffs of its workers in Ireland, which has had a health care mandate for years.

Following its 2007 performance, Stryker announced it would focus its energy on expanding its overseas business and fighting FDA regulations. But in 2011, everything changed. Damned Obamacare!

Stryker has acquired several of its competitors in 2010-2011, and is now culling the combined staffs. If Mitt Romney had done the same, it would be proof that he has the leadership and business experience America needs. But with Barry O'Bonehead in the Presidency, it's proof that he's inept.

Following a Medicare overbilling story in 2007, Stryker was cited by Republicans as a sleazy company funneling cash to Democrats. Today Stryker is cited as a hard-working example of how Obama is wrecking the economy. Swivel and pivot, swivel and pivot.

Wait until the GOP finds out that Stryker recently stopped covering the cost of its CEO's private jet. And here we thought cracking down on private jet writeoffs was why Obama sucked!

Holy crud, a company citing the crushing weight of taxes and/or regulations for doing what it was going to do anyway? What IS this, the history of American business or something?

Anonymous said...

OH SNAP, dude! What an awesome reply. Good call, too, skipping past all the pertinent details.

However, your response would be more mature and convincing if you were rubber, and American Business was glue.

"Oh SNAP, context aggravates me." said...

Ha ha, the poor wounded kitty is still licking her sore paw. Ouchies!

dfwmtx said...

Yep, Obamacare cuts healthcare costs by making healthcare too expensive to pay for so that fewer expensive treatments will be approved.
Besides, who needs knee or hip replacements? If you need one, obviously you're too fat and should go on Michelle Obama's diet program.

Eric said...

You know, you're right: companies like Stryker and Covidian can't flee to other countries because they're already incorporated in Ireland.

Golly, I wonder why?

Corporate tax rate in U.S: 35%
In Ireland: 12.5%

Obamacare: if we can't get your corporate funds, we'll tax your crutches.

Golly! said...

A low, low 12.5%, and yet Stryker will be laying off Irish workers in 2012.

Malaysia's corporate tax rate is 25%, and yet they company will be expanding there in 2012.


Spoiler alert: Malaysia is offering revenue incentives to make this happen. We won't know whether that means they're stooping to "picking winners and losers" until we check to see whether their Prime Minister is a conservative or a Chicago-style socialist.

Sadly, Stryker's 20-year property tax exemption in Hopkinton, MA looks to be ending 15 years early, because the company didn't just fail to meet its promised employment increase, but sold off part of its local operations a year ago. Since they'll surely be returning that money, it's definitely safe and smart to accept their current complaint about "Obamacare's dangerous device tax" at face value.

Eric said...

Malaysia is offering incentives for a well-established, high-profit industry? And the company is moving their labor-intensive business there despite the higher corporate tax rate (which is offset by incentives?)

Well, you're right: that's crazy.

Anonymous said...

If Malaysia's tax breaks turn out to be as good for the local economy as Massachusetts' were, those Stryker jobs should be zigzagging back to us in 2017.

Stryker Corp: so labor-intensive that they're planning an across-the-board 5% layoff in all their current locations. But somehow the overseas firings must also because of Obamacare.

Anonymous said...

"Well, you're right: that's crazy."

Not to Mr. Peepers!

jkjkjk said...

Anything that isn't on the original press release that got reprinted on my bookmarked political website is CRAZY!