Cook Medical, a privately owned company begun by Bill Cook about 50 years ago. Never had any government involvement and the company grew. Cook died last year but his company is the world’s largest family-owned medical devices company. Their growth and potential for new jobs to be made is now very unsure as a result of Obama Care.

"Congress, ravenous for revenue to fund Obamacare, included in the legislation a 2.3 percent tax on gross revenue — which generally amounts to about a 15 percent tax on most manufacturers’ profits — from U.S. sales of medical devices beginning in 2013. This will be piled on top of the 35 percent federal corporate tax, and state and local taxes. The 2.3 percent tax will be a $20 billion blow to an industry that employs more than 400,000, and $20 billion is almost double the industry’s annual investment in research and development."

They will not be building a plant in the US this year. However, listen to others in the industry...

"Boston Scientific, planning for a more than $100 million charge against earnings in 2013, recently built a $35 million research and development facility in Ireland and is building a $150 million factory in China. (Capital goes where it is welcome and stays where it is well-treated.) Stryker Corp., based in Michigan, blames the tax for 1,000 layoffs. Zimmer, based in Indiana, is laying off 450 and taking a $50 million charge against earnings. Medtronic expects an annual charge against earnings of $175 million. Covidien, now based in Ireland, has cited the tax in explaining 200 layoffs and a decision to move some production to Costa Rica and Mexico."

Taxing jobs out of existence - The Washington Post

Yep, this administration is on the ball...they know about creating jobs !!!!!