We need to understand that the taxes which affect these companies, also affect our daily lives and the ability of medical care providers to do their jobs to the best of their abilities. Tax and healthcare reform, then, becomes less of a political issue and more of a dire basic need which has to be addressed for the safety of the common American citizen.
What are the taxes which hold back the companies who need a leg up the most?
Medical Device Tax
The Medical Device Tax was launched in 2013 under the Affordable Care Act, and imposed a 2.3 percent sales tax on all medical device supplies. This can encompass everything from surgical gloves to pacemakers, and means that these devices cost more to produce, and perhaps for consumers to purchase.
For every dollar that a medical device manufacturer makes on one of these devices, he owes 2.3 cents to the government in tax. While there is a two-year moratorium on the tax, it will come into full effect in January 2018 once again. As a result, many of these manufacturers are moving their factories off shore.
