Elder Patriot – Nancy Pelosi is the latest Democrat to unmask as a full-fledged, big-government Marxist. Her fealty to the pharmaceutical industry, major donors to the Democrat Party, is reflected in the prescription drug bill she introduced late last week.
(Washington Examiner) Speaker Nancy Pelosi on Thursday released a much-anticipated plan detailing House Democrats’ ideas to change the way people get prescription drugs. At the heart of the plan is a retroactive 95% tax on up to 250 of the most common medicines. The only way out of paying this tax is if the drug becomes subject to strict government price controls and price caps. The House is expected to vote on the plan this fall.
This “Pelosi Medicine Tax” could apply to the 250 most popular prescription drugs in the country and must apply to at least 25 of them. The tax is not on profits from the sale of the drug, but on the gross receipts from the sale. For example, if a medicine is sold for $100, a tax of $95 is owed, regardless of the cost of selling the drug.
Remember when Democrats shoved Obamacare down our throats? Pelosi was Speaker at that time, too. She rammed the nearly 3,000 page through congress giving House members virtually no time to read it.
Then she had the temerity to announce that “we have to pass the bill so that you can find out what is in it,” as though we were children on Christmas morning.
We soon learned that the only gift was to the insurance companies and big pharma that raked in a windfall, much of it from redirected taxpayer funds or from government borrowing.
Pelosi’s full statement was:
“You’ve heard about the controversies, the process about the bill…but I don’t know if you’ve heard that it is legislation for the future – not just about health care for America, but about a healthier America. But we have to pass the bill so that you can find out what is in it – away from the fog of the controversy.”
Healthcare insurance premiums doubled, and in too many cases tripled as a result of the new regulations.
And, the life expectancy of American’s actually went down, despite continued medical innovation and advancements, for the first time in many decades.
So much for affordability and a healthier America.
It appears that with this bill, Pelosi is again intent on serving her political benefactors.
No one can possibly believe that a 95% tax on anything will make that item more affordable.
Democrats, who had a cow when President Trump placed 25% tariffs on Chinese goods entering the U.S. claiming they were nothing more than a tax to consumers (they weren’t), should be consistent and reject this onerous real tax.
Seniors, veterans, women, virtually anyone in need of medicine will suffer.