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03/23/10(Tue)21:04 No.42787616.
The government will extract a fee of $2 billion annually from medical
device makers. If you are a medical device maker what you will pay
depends on your share of medical device sales in the U.S. So, if you
sell 10% of the medical devices in the U.S., what you pay will be 10%
multiplied by $2 billion, or $200,000,000. Think you, as a medical
device maker, know how to better use that money, say for R&D? Tough.
(Section 9009 (b)).
The reconciliation package turns that into a
2.9% excise tax for medical device makers. Think you, as a medical
device maker, know how to better use that money, say for research and
development? Tough. (Section 1405).
17. The government will
extract a fee of $6.7 billion annually from insurance companies. If you
are an insurer, what you will pay depends on your share of net premiums
plus 200% of your administrative costs. So, if your net premiums and
administrative costs are equal to 10% of the total, you will pay 10% of
$6.7 billion, or $670,000,000. In the reconciliation bill, the fee will
start at $8 billion in 2014, $11.3 billion in 2015, $1.9 billion in
2017, and $14.3 billion in 2018 (Section 1406).Think you, as an
insurance executive, know how to better spend that money? Tough.(Section
9010 (b) (1) (A and B).)
18. If an insurance company board or
its stockholders think the CEO is worth more than $500,000 in deferred
compensation? Tough.(Section 9014).
19. You will have to pay an
additional 0.5% payroll tax on any dollar you make over $250,000 if you
file a joint return and $200,000 if you file an individual return. What?
You think you know how to spend the money you earned better than the
government? Tough. (Section 9015).
That amount will rise to a
3.8% tax if reconciliation passes. It will also apply to investment
income, estates, and trusts. You think you know how to spend the money
you earned better than the government? Like you need to ask. (Section
1402). |