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Big Pharma Gets $28 Billion Tax Break in GOP Trumpcare Plan


#1

Big Pharma Gets $28 Billion Tax Break in GOP Trumpcare Plan

Will Rice

There will be a lot of losers if the House GOP’s disastrous plan to repeal and replace the Affordable Care Act ever becomes law: people with preexisting medical conditions, working families, older folks, kids.

One of the few winners would be the nation’s pharmaceutical industry: $28 billion richer thanks to a big tax cut. The Senate is likely to keep this tax break in its version of the legislation.


#2

According to conservative economics, if you cut taxes for the pharmaceutical industry companies, they'll hire more workers and cut prices. Of course, it doesn't work that way.

Increased profits mean higher compensation packages for CEOs and greater ability to drive small drug companies out of business. It also means more donations to fill GOP coffers, which is really the only thing Republicans care about.


#3

Return to Eisenhower-era Pro$perity – Return to Eisenhower-era Tax Rate$!!

Or better yet, make ALL korporations pay an annual minimum tax equal to the TOTAL compensation of the top five percent of employees (including ALL board members & officers, and including ALL compensation – current market value of stocks & bonds received, travel allowances above $350/day, bonuses, etc., etc.)

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* It's the RePooplican's plan, so call it what it is – 'RePooplicanCare'.   Or 'PoopCare' for short.


#4

That’s not a prescription for a healthy society. Seniors, children, people with disabilities, and working-class families need the affordable, quality coverage offered by the ACA. And America’s profit-laden drug companies need to help pay for it.

Uh, no, the author should be promoting single-payer Medicare-for-all, and not the ACA. My life partner has been bankrupted by the ACA, because he made $1K more in 2016 than the allowable official poverty income, so retroactively he has to pay $900 x 12 months to the IRS for health insurance (which, incidentally, he never even needed or used).