"Stryker Corporation has announced that it will close its facility in Orchard Park, New York, eliminating 96 jobs next month. It will also counter the medical device tax in Obamacare by eliminating 5% of their global workforce, an estimated 1,170 positions.
"Stryker's corporation is part of an industry that has been a big loser at the hands of Obamacare. Having refused to get on board with the White House and the Senate Finance Committee when the law was being crafted in 2009, the medical device industry was punished with an excise tax of 2.3% of their revenues, regardless of whether they make a profit."
"The Joint Committee on Taxation has done the math. Raising the top two rates [on 'the rich,' defined by him as families with incomes over $250,000] as proposed by Obama would increase revenue by $22.35 billion in FY 2013, assuming that no economic activity is deterred by the higher rates. [SEE ABOVE ITEM...NOT LIKELY] Which means that higher taxes on the rich, Obama’s only proposal to deal with the nation’s impending fiscal calamity, would cover around 2% of the current federal budget deficit, and would make no contribution at all toward dealing with our $16 trillion debt. So, Barry, what’s your plan for the other 98%? And, hey, how about that debt?(Hat tip to Jim Vicevitch at RadioViceOnline.com who did the math on Nov. 7 too)