The Obamacare bills currently wending their way through Congress all have provisions in them that would tax the medical technology that has done so much to extend our lives and reduce our suffering. Just on the very face of it, this sounds incredibly stupid to me. Taxes always discourage innovation and development, because they reduce the financial rewards to entrepreneurs. Our overlords may not like it, but those evil financial rewards really are the engine that drives the amazing economic machine that is America. The medical technology industry is but one example.
Amazing for now, at least. The bills, if enacted, will do their bit to make America's economic machine less amazing. Smart entrepreneurs will gravitate to other industries where they can make more money. If our policies are bad enough, they may even migrate to other countries with less stupid policies.
2012 can't come soon enough. Let's hope the mid-term elections next year send such a clear signal to the liberals that our drift towards socialism is turned around...
Good discussion at TigerHawk...
I hate to say it, but I seriously doubt a mid-term election turn-over.
ReplyDeleteThere is 890 billion in stimulus money and only about 10% spent. That leaves a significant pork grab bag that can be used essentially to buy the 2010 elections. Why else would it be sitting there?
Larry