Why did Boston Scientific announce it was laying off 1300 employees in Massachusetts while hiring 1000 employees in China? Because it had to trim its cost. What cost? The cost of a new tax in Obamacare that is levied on manufacturers of medical devices. Who would vote for such a thing? Senator John Kerry and the entire Massachusetts congressional delegation. The above chart from the Heritage Foundation shows how the recovery died simultaneously with the passage of Obamacare. No, that chart is not conclusive evidence that Obamacare killed the economy and Boston Scientific's situation is pretty unique but there is plenty of economic theory to support the notion that higher taxes do take a toll on private sector jobs. Until that theory prevails lets hope the Chinese can keep the lead of your next arterial stent.
Man, this clown has go to go
ReplyDeleteWell, now we have his crowning achievement...a downgrade. "We own this economy," the poodle-do said. And so they do.
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