One More Reason To Repeal the Medical Device Tax – Device Companies May Sell Your Data to Pay Their Taxes – Money Ha
Posted Nov 29 2012 11:24pm
Let’s use some common sense here and I have been a big advocate of removing the tax and putting it where it belongs and guess what, this plays right in there so more of your data is at risk of being sold. This is a very profitable business where companies make millions and billions selling data and it’s very little overhead, hire the programmers, write the algorithms and format your data and stick your for sale sign up. Device that manufacturer in the US bring jobs here, hands down and we are shooting ourselves in the foot. Don’t take my word for this, watch the video. Listen to the lady from Medtronic who explains the process. They don’t want to do a website and your doctor does not have time to educate you either as they don’t have time.
Right now Medtronic, as stated in the video is not selling web data but they are certainly looking at it to sell to insurers and other health entities, vague in response to a degree as there’s nothing moving here…yet. Again they can huge chunks of money selling your data to pay the taxes and then some as Walgreens made short of $800 million in 2010 selling data. So if the tax goes through it would be a business decision to sell your data and once more the consumer is screwed. You have to look at this as business and go beyond talking if you want to ever get your data. It is what it is. It’s all in this video.
Why do you think corporate profits are at such all time highs…because of the billions made selling your data. I have blogged about this so many times and then we have the folks crying about science and NIH funds, well taxing the data sellers is the answer there too so there’s a lot of cures for a lot of money shortages with taxing data sellers. It just makes sense. So Hugo in the video listen up here this is to help you and all of us.
This is hard for most to see because it is technology based profits and yes it does exist and when it comes to “risk” assessments for companies to get set up and mine and/or sell, the risk low, get good code and queries written is the big risk and then find your market. We see that on the web all the time with spun marketing. Shall we review the spun marketing FICO does to tell if you will be medication compliant with their horrible mismatch of data and algorithms designed to make money only? Watch that vide on the left hand side of this blog and see how duped you really are…Context is everything and there’s a sucker born every minute, sadly. I know this sounds like an odd reason to support repeal of the device tax but folks this is reality and the algorithms that move money and and give you parameters on what you can and can’t do in most of your life anymore are running on servers 24/7 and some of them attack you.
For more in formation in that area review the 47 chapters of the Attack of the Killer Algorithms and watch the video at the end or just watch all the videos on the left hand side of this blog, you will get educated. Time for consumers to become bed partners with the device companies, it’s a business strategy and will be a win win all the way around if the data sellers get taxed instead to keep this manageable and keep enough tangible companies operating in the US so we have JOBS. BD
I hate to say I told you so on data selling but I did 3 years ago and it’s developed pretty much like I said with consumers in the hole with privacy and any control over their own data. Here’s the links. I worked with data and wrote code and others like me too can visualize this stuff and probably even do it a lot better, they do on Wall Street. BD