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Medical Device Pioneer David Auth Seethes Over $40 Billion Industry Tax Idea, FDA Delays

The industry was horrified last week by a proposal from Montana Democrat Max Baucus http://baucus.senate.gov/ , the influential chairman of the U.S. Senate Finance Committee, that calls for taxing medical device companies for $40 billion over the next decade.

One of Seattle’s medical device industry pioneers has a beautiful view of Lake Washington from his home office in Kirkland, but a few minutes after I arrived, he was steaming mad.

“Our government rewards dummies and punishes geniuses,” says David Auth, the inventor of a less-invasive way to clear out blockages in arteries, called Rotablator. “GM is a dumb company, and has been for 35 years, and yet they get a bailout. The medical device industry in this country is one of the absolutely most competitive industries we have. All the great medical devices have come from U.S. companies. And so we tax them $4 billion a year?”

I had kicked this hornet’s nest by asking Auth straight-up about his thoughts on the recently proposed $40 billion tax increase on medical device companies. The industry was horrified last week by a proposal from Montana Democrat Max Baucus, the influential chairman of the U.S. Senate Finance Committee, that calls for taxing medical device companies for $40 billion over the next decade.

Luke Timmerman

Full Story: http://www.xconomy.com/seattle/2009/09/15/medical-device-pioneer-david-auth-seethes-over-40-billion-tax-idea-fda-delays/

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