Big surprise. The Senate voted in a non-binding (read symbolic/fake) resolution to reverse the 2.3% tax on medical devices that is part of the funding for Obamacare. According to the article, 34 Democratic senators appear to want Obamacare, but don't want to pay for it.
Come on guys, it's 2.3%. It isn't a killer tax. It's in an appropriate area so that the medical industry can help fund medical care. Did you suggest any alternative funding? It wasn't mentioned in the article, so I'm guessing NO. If you were my children, I'd cut up your credit cards and send you to your rooms.
14 comments:
Yes, when faced with the consequences of their policies, the Dems often act like weenies rather than leave themselves open to GOP attacks at election time. They know the GOP is relentless that way.
The GOP, as you've pointed out many times, MP, are also weenies but without the shame. Dem feel the shame, but also don't need much of a push to back away from a politically courageous position. I doubt the GOP could make much of a vote for a 2.3% tax like this, but they'd just scream TAX INCREASE and the Dems shiver.
@Dangerous,
Let's not get in a pissing match over whether the Dems feel shame but the GOP doesn't. I can't tell you how many comments I've read at HotAir claiming that the Dems are ruthless, but the GOP has a conscience, and that holds them back. Yeah, sure, whatever. I've seen otherwise.
Seems arbitrary to me to single out just one industry. Why did they get picked? They're only one part of the very large healthcare sector. Why are we saying that these companies must make less money while chemical, utility, auto, telecom, technology, etc. companies don't? If we need to raise revenue to pay for ObamaCare, we should just spread it evenly by raising everybody's taxes, not just the top 1%.
@Bob, there are probably non-arbitrary reasons to tax medical devices. It could be that it is a particularly robust part of the health field.
But if you want to propose alternative tax regime with numbers and a rationale, go ahead. (Same invitation to the Senate--if they don't want this tax, propose an alternative and take a real action, not a symbolic, non-binding one.) I just think it is irresponsible to cut taxes without a good plan for supporting planned spending.
If you know of any non-arbitrary reasons please let me know. I always thought it was a stupid idea. My proposal is simply to raise income tax rates proportionately across the board to offset the elimination of the device tax. Everybody should pay their fair share, rather than just soaking the rich.
@Bob, I don't know a non-arbitrary reason, but I'm not interested enough to do the research.
Ok, so hard to argue it's appropriate
@Bob, it's appropriate for the tax to remain or for it to be compared to other detailed plans. And you also have to consider what can pass. Things don't change just because you complain about them on this blog.
Now I think you're stretching. You have no basis for why it's appropriate (ie not arbitrary). I'm of course not saying it will change because I am complaining about it. What I am saying is that it was a stupid arbitrary tax and a better alternative would have been a broader tax across the broader personal or corporate base.
@Bob, you accuse me of stretching, but you haven't put any numbers on the table. So you have no basis for complaint if I prefer an existing tax to a vague, no-numbers non-proposal. So who is stretching? What standards do you hold yourself to? Nothing very high, from what I've observed.
You haven't put any numbers on the table either. You say it's appropriate for the tax to remain yet you admit you don't have any basis to say why it's not an arbitrary tax
@Bob, when I have a strong opinion, it is based on research. I hold myself to that standard. You are proposing something without any numbers to back it up. Funny that you have such low standards for yourself.
I haven't made an argument for the current taxation, other than it's the law and there's no better replacement on the table. You've haven't made an argument for the replacement. I'm still doing better than you, because you've done nothing to advance your argument. My weakness doesn't make you strong. You're still weak, and still weaker than me. That doesn't change until you lay out a proposal with numbers. So far, you've put out zero to evaluate, and you seem to feel fine about that. Bully for you.
PS. I don't have to convince you either. Frankly, I don't care what you think. You don't seem to have clear standards for your thinking. It's not even clear what you're trying to do here.
Just trying to make the point that the medical device tax is an arbitrary tax on one segment of the economy used to pay for healthcare for a wide variety of people. A better alternative would be to raise taxes on everybody across the board enough to raise the tens of billions that would be lost if the medical device tax went away.
The non arbitrary reason the medical device industry was singled out is because they are receiving a windfall because of new ACA regulations. For example. Every new mom gets a free breast pump now. everyone. The expansion of their business will be enormous. these are 200-500 dollar items.
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