House Bill to Lower Insulin Costs PASSES - 193 GOPers Voted AGAINST it - Just 12 Voted FOR

[FA_Q2]

This is what American Free Market ideology does to us.

No, it does not. This is what government protected markets do.

There is noting free about it. The monopoly is protected by government and that is what allows overcharging.

 

[Sunsettommy]

No, it does not. This is what government protected markets do.

There is noting free about it. The monopoly is protected by government and that is what allows overcharging.

But it is the "Free Market" based Corporations who wanted that monopoly in the first place do you follow on how they maintain their patents for years ahead to keep that control over the pricing while the rest of the world doesn't do that at all which is why they are far cheaper and generic drugs are common.

 

[FA_Q2]

But it is the "Free Market" based Corporations who wanted that monopoly in the first place do you follow on how they maintain their patents for years ahead to keep that control over the pricing while the rest of the world doesn't do that at all which is why they are far cheaper and generic drugs are common.

Of course they want a monopoly. That is not the point.

The point is that when government protects monopolies then it is not, by definition, a free market. It is a bad case of doublethink when you declare a government controlled market as a problem with free market ideology. It is like blaming democracy for authoritarianism. nonsensical on its face.

 

[otto105]

House passes bill to lower insulin costs, but prospects unclear in Senate

The House passes a healthcare bill that would cap out-of-pocket costs for insulin users at $35 a month, but its prospects in the Senate are unclear.

www.latimes.com

The measure would cap insulin costs at $35 a month for consumers enrolled in both private health insurance plans and Medicare. Currently, based on the patient’s condition and choice of treatments, costs can range from $334 to $1,000 a month for insulin, according to a 2020 Kaiser Family Foundation report.

This is a really good bill. If you know any Diabetics - it is a very expensive and unfair lifestyle. Those poor people pay a truckload for treatment. Anything to help their burden is great.

193 GOPers voted against it of course. Thoughts?

Someone told them ivermectin works to lower blood sugar levels and the Democratic pols won't allow bill to include it.

 

[2aguy]

House passes bill to lower insulin costs, but prospects unclear in Senate

The House passes a healthcare bill that would cap out-of-pocket costs for insulin users at $35 a month, but its prospects in the Senate are unclear.

www.latimes.com

The measure would cap insulin costs at $35 a month for consumers enrolled in both private health insurance plans and Medicare. Currently, based on the patient’s condition and choice of treatments, costs can range from $334 to $1,000 a month for insulin, according to a 2020 Kaiser Family Foundation report.

This is a really good bill. If you know any Diabetics - it is a very expensive and unfair lifestyle. Those poor people pay a truckload for treatment. Anything to help their burden is great.

193 GOPers voted against it of course. Thoughts?

This simply will make insulin more expensive not less….price controls increase the price…..

 

[2aguy]

My thoughts are that if it is enacted, prices for the uninsured will go through the roof and you will stop seeing investment in additional drug research for diabetes. This would fail just like rent controls have failed to alleviate the housing/homelessness problem. You can NEVER legislate your way around capitalism as long as capitalism provides investors an alternative place to put their money for better returns.

Yep……and you can bet there will
Be democrats downstream getting ready to cash in if this goes theough.

 

[Sunsettommy]

Of course they want a monopoly. That is not the point.

The point is that when government protects monopolies then it is not, by definition, a free market. It is a bad case of doublethink when you declare a government controlled market as a problem with free market ideology. It is like blaming democracy for authoritarianism. nonsensical on its face.

Monopoly isn't a part what Free Market is supposed to be about and you seem oblivious that it is the Corporations who DEVELOP Monopolies not Governments who eventually have to break it up or regulate it to some level.

Wikipedia helpfully tells us:

Free market​

In economics, a free market is a system in which the prices for goods and services are self-regulated by buyers and sellers negotiating in an open market without market coercions. In a free market, the laws and forces of supply and demand are free from any intervention by a government or other authority other than those interventions which are made to prohibit market coercions. Examples of such prohibited market coercions include: economic privilege, monopolies, and artificial scarcities.[1] Proponents of the concept of free market contrast it with a regulated market in which a government intervenes in the exchange of property for any reason other than reducing market coercions."

=====

Red bolding mine

 

[Turtlesoup]

From your link:

Top 10 Countries Where Insulin is Most Expensive (2018 RAND Corporation):​

1. United States — $98.70
2. Chile — $21.48
3. Mexico — $16.48
4. Japan — $14.40
5. Switzerland — $12.46
6. Canada — $12.00
7. Germany — $11.00
8. Korea — $10.30
9. Luxembourg — $10.15
10. Italy — $10.03

This is what American Free Market ideology does to us.

Actually, it was Obama health scam that did it to us. Between 2012 and 2016, the price of insulin doubled. Thanks Obama

 

[Admiral Rockwell Tory]

The doctors who invented insulin thought it should be distributed FREE OF CHARGE

Invented?

Insulin occurs naturally in the bodies of animals. You never heard of cow insulin being used to treat humans? It was actually discovered in dogs!

 

[Admiral Rockwell Tory]

Who is making up the difference?

You will be, through your health insurance premiums.

 

[Admiral Rockwell Tory]

I pay $98.00 a month for my insulin AFTER my insurance picks up part of the tab. I have an insulin pump that costs $700. The test strips for my meter are $48 a month. The equipment to support my pump goes for literally thousands of dollars for a 3 month supply. Fortunately, 90% of the cost of that support equipment is paid by insurance.

 

[CrusaderFrank]

Invented?

Insulin occurs naturally in the bodies of animals. You never heard of cow insulin being used to treat humans? It was actually discovered in dogs!

I'd ask you to stop being such a fucking asshole, but it must be genetic

 

[georgephillip]

The entire FDA.

How does the entire FDA facilitate rent seeking and monopolists?

History of the Food and Drug Administration - Wikipedia

"In June 1906, President Theodore Roosevelt signed into law the Food and Drug Act, also known as the 'Wiley Act' after its chief advocate.[1]

"The Act prohibited, under penalty of seizure of goods, the interstate transport of food which had been 'adulterated,' with that term referring to the addition of fillers of reduced 'quality or strength,' coloring to conceal "damage or inferiority," formulation with additives 'injurious to health,' or the use of 'filthy, decomposed, or putrid' substances"

 

[ColonelAngus]

Who is making up the difference in the price? Is it the taxpayer?

 

[georgephillip]

It's actually hard to find rent-seeking that doesn't rely on government. From a simple search on "rent seeking", pretty much every article cites government as the principal source.

Capitalism is the principal source of rent seeking.
Capitalists control US government.
Put the blame where it belongs (for once)

What Is Rent Seeking?.

"Understanding Rent Seeking​

"The concept of rent seeking was established in 1967 by Gordon Tullock and later popularized by Anne Krueger in 1974.

"It evolved from the studies of Adam Smith, and he is often regarded as the father of economics.

"The concept is based on an economic definition of 'rent,' defined as economic wealth obtained through shrewd or potentially manipulative use of resources."

 

[georgephillip]

Tell again about the rabbits rent seeking, georgephillip!

(with apologies to Steinbeck)

Capitalist rabbits?

"Rent-seeking is the effort to increase one's share of existing wealth without creating new wealth.[1]

"Rent-seeking results in reduced economic efficiency through misallocation of resources, reduced wealth creation, lost government revenue, heightened income inequality,[2] and potential national decline"

Rent-seeking - Wikipedia

 

[Grumblenuts]

The only thing I can figure is that the dems folded something else into the Bill the gop found repugnant.

I don't care enough to investigate though.

You "figured" wrong, as usual.

Give it a minute til it's discovered what pork was stuffed into it to show why repubs objected.

.. and crickets..

Text - H.R.6833 - 117th Congress (2021-2022): Affordable Insulin Now Act

Text for H.R.6833 - 117th Congress (2021-2022): Affordable Insulin Now Act

www.congress.gov

Sorry lazy whiners. No pork.

What "the gop found repugnant" was that a Democrat introduced it.

 

[georgephillip]

LOL - the entire concept of a "corporate charter" is a rent seeking arrangement, facilitated by - you guessed it - government!

Wanna try again?

Right after you answer my question:

Did Reagan's deregulation of stock buybacks in 1982 enhance or diminish the free market?

"What is needed is a new agency � call it the Federal Chartering Agency (FCA) � to issue federal charters for major corporations engaged in interstate business.� The charter would be mandatory, not permissive, and it would contain �policing� as well as �enabling� provisions.� What is needed now is not a new Corporate Bill of Rights � for rights they amply have � but a Corporate Bill of Obligations.� A sketch of some of the possible provisions follows..."

Ralph Nader on Federal Government Control of Corporations, 1973

 

[Admiral Rockwell Tory]

I'd ask you to stop being such a fucking asshole, but it must be genetic

I'd asking you to stop being a fucking idiot, but it must be genetic.

You cannot "invent' something that occurs naturally! Who discovered gold in California? Do you say he invented it?

 

[pknopp]

Of course they want a monopoly. That is not the point.

The point is that when government protects monopolies then it is not, by definition, a free market. It is a bad case of doublethink when you declare a government controlled market as a problem with free market ideology. It is like blaming democracy for authoritarianism. nonsensical on its face.

Those other countries listed in the link have controlled markets so it can't be that.