As the Obama campaign bleats endlessly about the evil “pioneer of outsourcing” Mitt Romney, the policies imposed by the Dear Reader continue to destroy our economy. From the Minneapolis St. Paul Business Journal:
A med-tech company says it’s scrapping plans to open five new plants in the Midwest because of the 2.3 percent medical-device tax that goes into effect next year to help pay for the new federal health care law.
Cook Medical Inc., a Bloomington, Ind.-based company that makes a variety of medical devices, told the Indianapolis Business Journal that the federal tax will cost it between $20 million and $30 million annually.
That’s enough to force the company to abandon plans to build five plants over the next five years, said Pete Yonkman, Cook’s executive vice president of strategic business unit. Cook recently spent $30 million to renovate a Canton, Ill., plant that was abandoned by International Harvester Corp.
Yonkman said the company will instead look to expand internationally. It already has production facilities in Australia, Denmark and Ireland. (emphasis mine)
Let’s recap, kids. Obama’s alleged “success” with Government Motors is actually a disaster. The food stamp budget has quadrupled since 2001. The crown jewel of income redistribution, Obamacare with its 20+ new taxes, is sending jobs overseas. Any questions?