Thursday, March 25, 2010

First Troubles with Obamacare: It's a massive Job Killer

It's only one day after President Obama signed his Health Care Reform bill into law and already the nation is suffering from it.

JOHN DEERE
“Deere & Company, Iowa’s Largest Manufacturing Employer, Said In A Statement This Morning That The Recently-Passed Health Care Legislation Will Cost The Company $150 Million After Tax This Year. (Des Moines Register, 3/25/10)

CATERPILLAR, MEDTRONIC AND VERIZON
“Even Before President Obama Signed The Bill On Tuesday, Caterpillar Said It Would Cost The Company At Least $100 Million More In The First Year Alone. Medical Device Maker Medtronic Warned That New Taxes On Its Products Could Force It To Lay Off A Thousand Workers. Now Verizon Joins The Roll Of Businesses Staring At Adverse Consequences.” (The Wall Street Journal, 3/25/10)
MASSACHUSETTS MEDICAL DEVICE MANUFACTURERS
“A Dire Warning From Bay State Medical-Device Companies That A New Sales Tax In The Federal Health-Care Law Could Force Their Plants - And Thousands Of Jobs - Out Of The Country...”
“‘This Bill Is A Jobs Killer,’ Said Ernie Whiton, Chief Financial Officer Of Chelmsford’s Zoll Medical Corp., Which Employs About 650 People In Massachusetts. Many of those employees work in Zoll’s local manufacturing facility making heart defibrillators.”
“‘We Could Be Forced To (Move) Manufacturing Overseas If We Can’t Pass Along These Costs To Our Customers,’ Said Whiton.” (“Beware The ‘Jobs Killer’,” Boston Herald, 3/25/10).

No comments:

Post a Comment

There was an error in this gadget