Obamacare’s new taxes hurt small businesses
The Dec. 28 article, “Health care will change in five key ways in 2013,” did not discuss one of the greatest changes that will impact many Americans. The Affordable Care Act, also known as Obamacare, contains 20 new and higher taxes. In total, for the years 2013 to 2022, Americans face a net $1 trillion tax increase, according to the Congressional Budget Office.
The many new taxes are too numerous to list here, but for example the tax on medical devices not only imposes a 2.3 percent excise tax on gross sales (even if the company did not earn a profit), it will have a negative impact on jobs and small businesses. Here are just two examples that directly affect New Yorkers. Stryker Corp. has announced that it will close its facility in Orchard Park, eliminating 96 jobs, and Welch Allyn in Skaneateles Falls has announced it will lay off 10 percent of its workforce, or 275 workers. What concerns many about Obamacare is that as the law evolves, more taxes and regulations may be on the horizon.
Roy T. Lindberg