Greta Weighs in on the Health Care Battle in the Supreme Court
Health care law: Supreme Court showdown! Is it good for the country’s health? The arguments… the implications… the decision – from every angle!
Don’t miss a special edition of On The Record tonight at 10p/1a ET.
In an editorial posted Thursday on FoxNews.com, Sen. Orrin Hatch (R-UT) and Rep. Erik Paulsen (R-MN) argued against one aspect of the President's healthcare law, the medical device tax.
One example of the perverse policies in the law is the new 2.3 percent excise tax that will be levied on medical equipment and devices starting in January of 2013, less than 200 days from now, and that will cost the medical technology industry more than $28 billion...what the proponents of the law fail to understand is the basic concept that if you tax something more you get less of it. If we want to be a nation leading the charge of new health care advancements to treat and cure diseases, then we must repeal this tax.
Medical technology is one of the few American manufacturing sectors that is a net exporter, with a positive balance of $5.4 billion – accounting for a stunning 40 percent of the entire global technology market. Remaining globally competitive can keep these jobs in the United States. But our lead has shrunk dramatically in the last decade, and we stand to lose further ground with the new tax with many device firms already closing or moving abroad to avail themselves of the more favorable tax and regulatory climate in Europe.
ObamaCare as a matter of policy is unsound and must be repealed. The elimination of the medical device tax will benefit our economy, workers, job creators, patients, and families that depend on the good jobs, high wages, and innovative medical products that this industry creates.
Do you agree with Sen. Hatch and Rep. Paulsen? Weigh in below and tune in for a can't-miss On The Record tonight at 10p/1a ET.