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Obamacare Strangles Job Creation, Stifles Medical Innovation

Earlier, I wrote about the dismal March jobs report and how high unemployment has been masked by rising numbers of discouraged workers and people going onto Social Security Disability. I also noted Obamacare has wiped out some jobs and prevented the creation of others. Economists including Mark Zandi and economics writers such as James Pethokoukis recently cited Obamacare as the likely culprit behind those lousy jobs numbers. Zandi cited the way it affected the labor market and which sectors were most sluggish in hiring. Ed Morrissey discussed some alternative theories for why hiring was weak, and why he wasn't buying them, here. Earlier, restaurant chain CEO Andrew Puzder explained how Obamacare is preventing jobs from being created in the restaurant industry, and causing layoffs in other industries. And John Stossel reported on how Obamacare is stopping businesses from hiring, interviewing people whose businesses have been harmed. At Bloomberg News, Ramesh Ponnuru argued Obamacare’s medical-device tax will harm medical “innovation,” citing forecasts it will lead to “reduced research and development.” His conclusion was echoed by the dean of Harvard Medical School, and Cato health care policy analyst Michael Cannon, who likewise concluded Obamacare will harm life-saving medical innovation. Obamacare contains several other taxes, and it increased taxes on many investors starting in Jan. 1 of this year.