Editor, Times-Union:
Well, well, well, tax slaves, surprise or is it?
Quote from the Wall Street Journal: "What kind of country does this to itself? With Medtronic's planned acquisition of  Covidien and the announcement that the combined company will be domiciled in Ireland, US tax policy has encouraged one more business to spend its money overseas. Medtronic’s famous for its high-tech cardiac and spinal devices will pay $42.9 billion for Dublin-based Covidien, which makes surgical tools and other medical supplies.”
Medtronic is making a business case for the deal, promising to find at least 850 million in annual cost savings by 2018. (Comment mostly on labor.) Some analysts see a combined company that will have more leverage to defend prices when negotiating with consolidating hospital and physicians groups. Medtronic adds that its technology, when combined with deans overseas manufacturing, research and development assets will give the combined firm and edge in emerging markets such markets also don't have the 3.8 percent national health care tax on medical devices.”
Well, well! Will Papa Zimmer be far behind? We know that some of their operation is already been moved. Do you mean to tell me that all that money from the profits of fitting maimed soldiers is now going to go bye-bye? Run down to the library and you can read the rest of this gobbledy gook in the Wall Street Journal. It's amusing that the Wall Street Journal tries to blame the 3.8 percent tax for Medtronic’s bailing out. Sounds like somebody’s being screwed or is it the town of Warsaw?
Tom Metzger
Warsaw, via email