USA TODAY — NASHVILLE, Tenn. — Johnny Drake’s business is losing 2.3 percent of everything it makes because of the Affordable Care Act.
He’s the president of Pathfinder Technologies, a small company in Nashville with fewer than 20 employees, that got hit with an excise tax this year because it makes medical devices.
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Medical device manufacturers are among the federal health law losers, those that will have to pay up to cover the cost of implementing it. Others include high-wage earners, tanning salons and, in some cases, working parents and folks with big medical bills. The law generates revenue through a hodgepodge of new taxes, financial penalties and IRS rule changes.
“Every quarter, we’re having to send the federal government a flat 2.3 percent of our revenue,” Drake said. “I feel like it’s double taxation because at the end of the year, we’re sending them our federal income tax as well.”
Read more at USA Today.
