If you read here often enough the excise tax on medical device companies is something that I am not in favor of and very little of the time I agree with the GOP but on this one I do and it’s not because of any brilliance I don’t think for the most part as most of their activity revolves around repealing healthcare reform which is ridiculous as there’s no budget big enough to handle the reshuffling of the IT infrastructure needed to do something like this. In the past I have a few interviews on this blog with folks from Cook and they have been very informative and plus they are private company so they are not traded and I kind of like that these days. You can read below the comments I made on the cancellation of further expansion with Cook due to the device excise tax that is due to come on board next year.
Cook Medical Cancels Plans for Factory Expansions–We Need Companies That Create Tangible Products As They Create Jobs–Tax The Data Sellers/Brokers Who Make Billions With Data Mining “Killer Algorithms” And Give the Device Companies a Break
When the healthcare reform law was created things were different and money was in different pots before the crafted algorithms of Wall Street started moving the money around as there are queries and algorithms created for “accurate” results and those that are more in favor of “desired” results and when the 2 are not the same, “Houston we have a problem”. In creating the healthcare reform law again things were different so now a couple years later let’s review and fix it, and get the funding “where the money is”, the data sellers for taxes. If Walgreens in 2010 made just under $800 million in “selling data only” how big is that pot? Huge when you bring in banks, social networks, companies, you name it. Sure device companies may sell some data but an excise tax paid by all would include them but not as such a huge chunk and they would not be one industry singled out. We have folks sadly in Washington that are “dumber” than rocks when it comes to math and formulas and I think we might need to start electing folks that have some computer science in their background and this applied to the White House too as Sebelius and Shapiro have about run their course and now with the additional learning they have to do, they can’t think on their feet and it wastes time, time that companies and banks gobble up for profit. It is what it is.
Congress To Investigate the Data Sellers - Need To Create a Law to Tax Them As The Algorithms Used For This Business Generate Billions of Dollars, Partly Why Corporate Profits Are So High - Remove the Medical Device Tax as They Produce Needed Jobs/Tangibles
Yes this a regular topic around he because it’s the truth and folks in denial or who don’t want to understand run for the hills much of the time, but again we have to make some kind of move and why would companies built plants and hire folks when they can mine and sell data with little exposure and risk? Ask yourself that question all the time. If you can’t ask yourself that question they maybe some of what I say here might flying a little high for comprehension but again it is what it is. With taxes on the data sellers along with buying a license it would give law enforcement a leg to stand on and no license, a fine or shut them down. We would also need a federal website for disclosure on what type of data they sell and to who. Consumers have been wanting this forever, especially now that we are all “data chasers” fixing the flawed data out there floating around about us and that’s a chapter in the Killer Algorithm series as that’s what does all of this. Wake up. Learn to like or at least understand and tolerate math and computer formulas.
“Devaluate the Algorithm” And “Tax the Data Sellers”–A Cure for Both Healthcare and an Economy Based Heavily on Intangibles–We’ve Lost Our Balance
Anyway, nice work on the part of Cook Medical in bringing some real “tangible” jobs to the US instead of raking in data and selling algorithms. Algorithms can be good too as they are used in the technology that helps this factory run, it’s just the data mining crap that we are all so tired of and that is out of hand and we need someone who is not “dumber than rocks” to address this and come out of denial. Us tech folks all see it but politicians and many others are still just sitting in denial or are just flat out “dumb”. BD
As politicians and officials gathered Friday to dedicate the $19 million Cook Polymer Technology plant, Clifton Randall seemed to be feeling a bit of deja vu.
"I figured on retiring from this spot," the 57-year-old Lewistown resident said. "Here I am, figuring to retire here again."
Three decades ago, Randall had three years in at International Harvester and figured he was set for life. But Harvester pulled out, leaving him and thousands of others without jobs in 1983 - not to mention a devastating environmental mess exacerbated by a fire at the abandoned plant.