I hope this hasn't already been posted.

This indicates a failure of Obama's tax and Healthcare policy on so many levels. The damage that raising taxes causes. The damage this does to the medical community (you know that cornerstone of Obama's legacy?). Jobs lost. Forcing companies to move their work overseas.

Indiana company scraps plans for expansion over ObamaCare device tax | Fox News (http://www.foxnews.com/politics/2012/07/27/indiana-company-scraps-plans-for-expansion-over-obamacare-device-tax/)

Indiana company scraps plans for expansion over ObamaCare device tax

An Indiana-based medical equipment manufacturer says it's scrapping plans to open five new plants in the coming years because of a looming tax tied to President Obama's health care overhaul law.

Cook Medical claims the tax on medical devices, set to take effect next year, will cost the company roughly $20 million a year, cutting into money that would otherwise go toward expanding into new facilities over the next five years.

He said the original plan was to build factories in "hard-pressed" Midwestern communities, each employing up to 300 people. But those factories cost roughly the same amount as the projected cost of the new tax.

The Affordable Care Act imposed a 2.3 percent tax on medical devices beginning in 2013. It is projected raise nearly $30 billion over the next decade.

But the Cook Medical spokesman said the impact is greater than just a 2.3 percent uptick in taxes. He said the impact on actual earnings is another 15 percent, and he projected the company's total tax burden next year will rise to over 50 percent.

It was all about jobs and small communities. This company seemed really concerned about some of the areas most impacted with the unemployment crisis. But we can thank Obamacare and his oppressive taxes that now these jobs will be going overseas.

Cook Medical shelves Midwest expansion plans | 2012-07-27 | Indianapolis Business Journal | IBJ.com (http://www.ibj.com/cook-medical-shelves-midwest-expansion-plans/PARAMS/article/35735)

He referred to a new plant Cook opened recently in Canton, Ill., renovating a plant abandoned by the International Harvester Corp. Cook has invested $30 million in the plant, which will eventually employ 300 or more people, Yonkman said.

Canton is the hometown of the late Bill Cook, who founded Cook Medical.

“We had hoped, as we get bigger, that that would be our model for expansion,” Yonkman said. “To take these small manufacturing facilities and bring them to these communities, that had been hard hit by jobs leaving, because the work ethic is amazing and the people are really supportive and excited.”

Yonkman said Cook had planned to open a similar facility each year for the next five years.

“So, for us,” he added, “that’s one less facility per year that we’re going to be able to use because of the tax.”

Cook officials have long been critical of the medical device tax. Even before it became law, Bill Cook said it could cost the company as many as 1,000 jobs.

Since then, Cook officials have said their future growth will be focused overseas. Cook already has production facilities in Ireland, Denmark and Australia.

I've scrapped plans to launch a small business. See how easy that is? We should all scrap plans to launch a small business. Mine was going to create 325 jerbs!