Obamacare Medical Device Tax Causes One Company to Lay Off Over 1,000 People

A Grand Rapids, Michigan report on a company that had to lay off over 1,000 people due to the Obamacare medical device tax:

"There are also new taxes affecting West Michigan industry, in particular, that took effect this year," says a local reporter. "There's a new 2.3 percent excise tax on medical device manufacturers. According to some reports, Kalamazoo based Stryker has laid off more than a thousand people because of it--and owes the federal government upwards of $100 million dollars this year alone. Late last week a Stryker spokesperson told me that Obamacare will cost the company fully 20 percent of its total research and development investments.