The idiocy of taxation is that companies rarely pay for government legislation that seeks to grab more money from the productive parts of society. This truth regarding new, old, or inane taxes may have no greater example than the 400000 jobs in the medical instrument industry, that could potentiall be lost of the fiscal cliff is not dealt with before the start of 2013.
Forbes cites a Manhattan Institute report that claims the excuse tax could cut as many as 43,000 jobs in the coming years, translating to a savings of roughly $3.5 billion.
"I want to repeal the medical device tax altogether,” Sen. Al Franken (D-Minnesota) said earlier this month, adding that time was running around without a fix before the bill’s “job-killing” tax takes its toll.
“For now, the best thing to do to ensure that this important industry continues to create jobs and producing life-saving devices is to delay this unwise tax," the senator said in a statement. “The medical device industry creates tens of thousands of good paying jobs in Minnesota and 400,000 nationwide. We should do everything we can to protect it." - Russia Today
Thus, the continuing answer to failed fiscal policies and the move towards total marxism by Congress and the Obama administration is simply stealing more money from the productive people in America, and providing little or no value for their tax dollars.