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There are too many dreadful provisions in the Democrats’ $3.5 trillion spending monstrosity to count, but one is rising to the surface as especially destructive . That would be its prescription-drug price-control schemes.
A study by University of Chicago economist Tomas Philipson and analyst Troy Durie concludes that the Congressional Budget Office is wrong by more than an order of magnitude in its estimates of how many new and better drugs would be lost if this legislation were to be enacted.
The CBO said the drug-pricing scheme would mean two fewer drugs in the first decade and 23 fewer in the second decade. Philipson finds more than 10 times the effect on research and development—a loss of up to some 340 new drugs over the same period.
The legislation before Congress would call for Medicare to “negotiate” drug prices. But price negotiation already happens thousands and thousands of times between drug companies and drug plans offered to seniors today.
The word “negotiate” to Democrats means government-imposed price controls, topped by confiscatory taxes. “Companies face a tax as high as 95% on sales if they don’t concede to the government price, meaning this isn’t a negotiation, but a demand ,” Philipson wrote in a piece for The Wall Street Journal. “Drug companies would have to offer commercial insurers the same rates.”
The drug “savings” would help finance the $3.5 trillion spending spree. “If enacted, these policies would harm patients enormously,” Philipson writes.
Biotech investors sounded alarms at the National Press Club last week about what that would mean. They said that the price-control scheme would dry up investor interest in the biotech sector.
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“If the government can pick any arbitrarily low price it wants and prevent a company from saying ‘no’ by threatening it with a ruinous 95% tax, then I could not justify any biomedical [research and development] investment to my investors,” said Peter Kolchinsky, a founder and managing partner at RA Capital Management. “In other words, we should expect a near-total collapse of R&D funding.”
The U.S. will forfeit its leadership in this global industry if this bill were to pass by eviscerating the incentive […]
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Will America-First News Outlets Make it to 2023?
Things are looking grim for conservative and populist news sites.
There’s something happening behind the scenes at several popular conservative news outlets. 2021 was bad, but 2022 is proving to be disastrous for news sites that aren’t “playing ball” with the corporate media narrative. It’s being said that advertisers are cracking down, forcing some of the biggest ad networks like Google and Yahoo to pull their inventory from conservative outlets. This has had two major effects. First, it has cooled most conservative outlets from discussing “taboo” topics like Pandemic Panic Theater, voter fraud, or The Great Reset. Second, it has isolated those ad networks that aren’t playing ball.
Certain topics are anathema for most ad networks. Speaking out against vaccines or vaccine mandates is a certain path to being demonetized. Highlighting voter fraud in the 2020 and future elections is another instant advertising death penalty. Throw in truthful stories about climate change hysteria, Critical Race Theory, and the border crisis and it’s easy to understand how difficult it is for America-First news outlets to spread the facts, share conservative opinions, and still pay the bills.
Without naming names, I have been told of several news outlets who have been forced to either consolidate with larger organizations or who have backed down on covering certain topics out of fear of being “canceled” by the ad networks. I get it. This is a business for many of us and it’s not very profitable. Those of us who do this for a living are often barely squeaking by, so loss of additional revenue can often mean being forced to make cuts. That means not being able to cover the topics properly. Its a Catch-22: Tell the truth and lose the money necessary to keep telling the truth, or avoid the truth and make enough money to survive. Those who have chosen survival simply aren’t able to spread the truth properly.
We will never avoid the truth. The Lord will provide if it is His will. Our job is simply to share the facts, spread the Gospel, and educate as many Americans as possible while exposing the forces of evil.
To those who have the means, we ask that you please donate. We have options available now, but there is no telling when those options will cancel us. We have our GivingFuel page. There have been many who have been canceled by PayPal, but for now it’s still an option. Your generosity is what keeps these sites running and allows us to get the truth to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Thank you, and God Bless!
JD Rucker