Sixteen Democratic senators who voted for the Affordable Care Act are asking that one of its fundraising mechanisms, a 2.3 percent tax on medical devices scheduled to take effect January 1, be delayed. Echoing arguments made by Republicans against Obamacare, the Democratic senators say the levy will cost jobs — in a statement Monday, Sen. Al Franken called it a “job-killing tax” — and also impair American competitiveness in the medical device field.
A seemingly tiny 2.3% tax will cost jobs and impair competitiveness?
Huh.
Senator-elect Elizabeth Warren--who admittedly didn't build that provision--signed the statement, too.
Too late now. Enjoy what you wished for.
Oh, this is a wonderful example of why we spend too much. We decide to spend more and then in the years that follow a new spending program, even legislators who like the spending work hard to eliminate the taxes that pay for the new program. Hilarity ensues.
Until it isn't funny.
Tip to Instapundit.
