Excise Tax On Tanning Beds in Pelosi's Healthcare Bill

[Ezliving_Jim]

Excise Tax On Tanning Beds in Pelosi's Healthcare Bill
Sec. 552: Small Medical Device Companies Hit with Massive Tax

Under Speaker Pelosi’s health care bill, medical device makers would pay a 2.5% excise tax on sales of their products, roughly ninety percent of whom are small businesses. The Medical Device Manufacturers Association estimates the cost to their industry would exceed $20 billion over 10 years.

• `(a) In General- There is hereby imposed on the first taxable sale of any medical device a tax equal to 2.5 percent of the price for which so sold.

[Beach Bum]

So a tanning bed is a "medical device"?

[Ezliving_Jim]

Originally Posted by Beach Bum

So a tanning bed is a "medical device"?

Yep. A Class I Medical Device. That's why we are regulated by the FDA.

[perfect_tan69]

Originally Posted by Ezliving_Jim

Yep. A Class I Medical Device. That's why we are regulated by the FDA.

Then why the f^*# are we dealing with all the bulls*^& that we kill people.

[Ezliving_Jim]

Originally Posted by perfect_tan69

Then why the f^*# are we dealing with all the bulls*^& that we kill people.

The flipside is, that's how Obama can ban indoor tanning businesses anytime he wants. All he has to do is have the FDA reclassify tanning beds as a Class II medical device...

Poof.

[Ezliving_Jim]

Tanning lamps are also Class I medical devices, so replacement lamps would get hit with the excise tax, too.

[rclawren]

what is a class II medical device

[raiseprices]

aw yea!

[Beach Bum]

Our goverment is like a snowball rolling down hill. It just keeps getting bigger & bigger. And all it does is spend/waste money. In the next generation or two every single thing will have a excise tax on it in order to fund the goverment.

Heck, when you think about it, everything already does. with the taxes on the shipping and freight industires. Those taxes drive up the cost of everything.

They'll find a way to tax air before it's over with. Everyone will be require to wear a breathing meter. You will have to pay someone to read your meter and determine your tax bill for breathing.

[Ezliving_Jim]

Originally Posted by Beach Bum

They'll find a way to tax air before it's over with. Everyone will be require to wear a breathing meter. You will have to pay someone to read your meter and determine your tax bill for breathing.

Like "Cap & Trade" tax on CO2, that bad stuff everybody exhales.

That bill passed the House and is stuck, for the time being, in The Senate.

[Don]

It is fairly simple to register a class 1 medical device. A class 2 device registration is much more complex and expensive.

[perfecttan01]

As I posted weeks ago, I saw this one coming.

[Nicholas R]

LMFAO, I like the way you think, so we technically have medical devices in our salons, but god forbid we ever make a statement about the benefits of our class I medical devices, whatever the f#^* that means!

[Ezliving_Jim]

Obamacare just passed in the House on a party-line vote. Weasels.

It's up to the Senate, now, to do the right thing and kill the bill.

[dougl020]

Does anyone know what happened with this? Anything new?

[Ezliving_Jim]

The Senate Bill is approved for debate (60 Dems only voted for it.) The bill could die during debate.

A vote on the Senate bill could possibly happen by Christmas, more likely early next year.

If The Senate version passes, then the House and Senate versions go to a joint conference committee where the real sausage is made.

Then the House and the Senate have to both pass the fresh sausage and send it to Obama for his signature.

Many ways to kill the bill. Have Hope that, somehow, it dies.

[Ezliving_Jim]

If you are interested in reading the Senate Bill: http://finance.senate.gov/sitepages/...e-care-act.pdf

Put on a pot of coffee. Its 2074 pages.

[John]

They lowered it from $4 Billion to $2 Billion a year.

The amount itself now seems set and has been halved from an earlier Senate proposal. A bill unveiled Wednesday by Senate Majority Leader Harry Reid, (D., Nev.) would impose the same amount of tax each year--$2 billion--as the health-care bill passed by the House of Representatives. A key difference, however, is timing. The Senate would impose the tax starting in 2010, while the House bill wouldn't require companies to make payments until 2013.

Link Here

The Senate bill will won't tax Class I devices, such as tongue depressors, or Class II devices that retail for less than $100. The House bill excludes all devices sold at retail stores.

The Senate bill also divides how the tax would be imposed based on a firm's annual sales. Companies with annual sales below $5 million won't be required to pay a fee, while those with annual sales above $5 million would have to some sort of fee.

[mgj]

Interesting trick to keep it under a TRILLION dollars, they start collecting revenue in 2010, but do not impliment (sp) the bill till 2013. Thus allowing 10 yrs of rev. and only 7 yrs of expense. Real cost for 10 yrs......about 2 trill. but hey remember when a billion was big money. We should try their tricks w/our taxes and bus., see what happens.

I am printing t-shirts "I told you so" we are spending money our unborn grandkids have not made.