New $29 billion taxes on...Obamacare Medical Devices
Posted: Wed Dec 05, 2012 4:38 pm
The U.S. Internal Revenue Service on Wednesday released final rules for a new tax on medical devices, products ranging from surgical sutures to knee replacement implants, that starts next year as part of President Barack Obama's 2010 healthcare law.Told ya this was all part of Obama's plan.
The new 2.3-percent tax must be paid, effective after December 31, by device-makers on their gross sales. The tax is expected to raise $29 billion in government revenues through 2022.