Republicans voted for Obamacare - will have a toxic effect on the makers of medical devices.
"For a typical company, a 2.3 percent tax on revenues equals a 15 percent tax on profits," Bayh wrote. "When combined with a 35 percent corporate tax and state corporate taxes, the tax rate for the medical device industry will exceed 50 percent in most jurisdictions."
Not surprisingly, the industry has announced layoffs, canceled planned expansions, slashed research and development budgets, and moved production elsewhere.
"This month, Welch Allyn - a maker of stethoscopes and blood-pressure equipment, announced that it will lay off 10 percent of its global workforce over the next three years, but all of the jobs being cut are in the U.S," Bayh wrote.
"In my state of Indiana alone, Cook Medical has
canceled plans to build one new U.S. facility annually in each of the next several years, and Zimmer plans to lay off 450 workers, while Hill-Rom expects to lay off 200. Stryker, based in Michigan, anticipates having to lay off 1,000 workers."
Democrats passed the Affordable Care Act in the middle of the worst recession since the Depression.
Workers in some industries will pay dearly for this folly.
Democrats shouldn't be surprised if they do, too.