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Medical device tax set to go into effect in 2013

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    Minnesota Congressman Erik Paulsen weighs in

  • Duration 3:09
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Fight got a new tax -- -- cut over 40000 jobs -- with this and attacks and goes into effect in January 1 it's not new.

You should -- in the streets and watching the show is the medical device tax is part of obamacare critics say.

It had always threatens jobs most severely diminish medical technology.

As well as innovation now a group of lawmakers.

Including Democrats are demanding it be delayed death.

Joining us right now is charged with Erik Paulsen co -- the congressional medical technology caucus congressman where have they been on this.

It's.

What I tell -- it's a great to have the support of some Democrats senators every -- but the house -- this bill six months ago.

And it's a ticking time about we got sixteen days to stop this devastating tax on some of our best job creators so how -- -- how would a tax on medical devices affect jobs.

Boy I tell yeah -- only in Washington would you impose a tax on this industry on these jobs and think you're gonna save health care costs here's what's gonna happen.

This is a tax on revenue it's not a tax on profit.

So you're gonna have fewer start -- is one of our best buy American success stories and now big companies are gonna start laying people off which they're doing.

They're moving jobs overseas or curtailing their investments in research and development.

It's not a good message to be sending -- in a tough economy especially well let me give us an idea I mean these are pacemakers right obviously artificial hearts.

Everything that made America the place to go when you need -- complicated surgical procedure.

That's absolutely right in fact this is truly an American success story less invasive surgeries it's an industry that's credited for.

Enhancing and promoting life saving lives from heart disease diabetes.

Many other diseases and that future treatments as well and so.

You know this not only sends a bad signal for some of our best job creators it's also gonna make it a lot more difficult for American patients to access these new technologies cutting leading -- -- technologies is it possible -- people in Washington.

How it won't necessarily resulting.

Increase revenue.

You know absolutely I mean there's actually we did decline overall mean the president has -- this is going to be a windfall for these device companies with so many people coming into the insurance market and that is just a convenient myth if you looked at studies that have -- for instance even in Massachusetts that has a similar provision to Obama -- with the individual mandate.

There's been no increase in utilization whatsoever.

So listen to that the President Obama on this medical device tax is this the health care -- provide is going to provide those health care companies.

Thirty million new customers it's gonna be great for business and the doing really well right now and they're going to get thirty million more customers as a consequence.

So this additional tax essentially comes back.

Today and as new customers.

Satellite Julio.

It does not sound logical it's fiction and it's false and boy tell that message to the folks in the employees that have been laid off from these companies or that are losing jobs moving overseas.

That's not the message they wanna hear we need to be doing the opposite and stop this tax before it starts on January 1 it's amazing and if you asked for a delay that means you don't want anything you realize the consequences you -- -- -- political career comes Merritt Paulson thanks so much.

Thank you very much Bryant --

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