From Paul Hsieh in Pajamas Media:
[A] government that penalizes innovation could dramatically slow the pace of medical progress, leading to millions of preventable deaths. And this may be one of the worst long-range consequences of the recently passed ObamaCare health legislation.
One of the many new taxes imposed by ObamaCare is a 2.3% excise tax on medical device manufacturers. Although this may not seem like much, it could be devastating to small companies working with thin profit margins. …
…we will still see some medical advances over the next 20 years despite ObamaCare. But what additional life saving advances will be stifled because of this deadly tax on innovation? Will we miss out on cures for Alzheimer’s disease, stroke, or breast cancer?
Fortunately, Americans can still enjoy these future benefits. But to do so, we must demand that our politicians repeal ObamaCare and instead implement free-market reforms that leave companies free to innovate and leave consumers free to spend their own medical dollars for their best interest. The resultant explosion in medical innovation could transform and improve our lives over the next 20 years at least as much as innovations in computer technology have done in the past 20 years.
For most people, using a 1998 home computer to surf the internet in 2010 would be unthinkable. For most doctors, using 1998 medical technology to treat brain tumors in 2010 would border on malpractice. When you need medical care in 2020, don’t let the regulatory state handcuff your doctor with 2010-era technology. Your life may depend on it.
Read the whole article: The Deadly Tax on Medical Innovation.