Friday, October 30, 2009

Obamanomics: tax your adversaries til they submit

The health care overhaul bill produced by House Democrats would impose an array of new taxes, fees and government mandates on major players in the health industry, including insurers, doctors and drugs and medical devices makers.

In most cases, the pain has been meted out with an eye toward raising the money needed to finance President Barack Obama's plan for reshaping the health system but also with careful regard for gaining the votes that will be needed to pass a final bill.

Democrats hope to vote next week on the measure, which would extend health coverage to tens of millions of Americans who don't have it, impose sweeping new restrictions on private insurers and create a government-run insurance plan to compete with them.

Among the industries targeted in the bill are medical device makers—one of the few that failed to cut an early behind-the-scenes deal with Obama and Democrats to help pay for an overhaul. The House added $20 billion in taxes on sales of medical devices like artificial hips and heart stents to the legislation Democratic leaders unveiled Thursday.

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