Obama Medicare rebate plan could hurt drug companies

Feb 13, 2013 Full story: Reuters 64

President Barack Obama's decision to spotlight drug rebates as a way to save money on Medicare is likely to be opposed by the pharmaceutical industry, which could potentially lose billions of dollars in profits.

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“Proud To Be An American”

Since: Apr 07

Location hidden

#1 Feb 13, 2013
If you need medical advice just ask a community organizer...right.
celticwarriors

Bradenton, FL

#2 Feb 13, 2013
Health care takes care of PEOPLE. Drugs need to be out of the profit business or they are no different than the drug cartels. Price fix them and get dangerous drugs from Big pharma off the market.

“We will never forget Obama's ”

Since: Mar 09

Muslim home boys killed 3000

#3 Feb 13, 2013
ObamaCare is a death sentence for all Americans.
Osama Obama Job Killer

Chambersburg, PA

#4 Feb 13, 2013
JohnInLa wrote:
If you need medical advice just ask a community organizer...right.
Didn't you know he is an expert on everything?Healthcare,firearms ,climate change,gas,oil,diet,etc.wonder why he has never held a job?

Since: Apr 08

Location hidden

#5 Feb 13, 2013
celticwarriors wrote:
Health care takes care of PEOPLE. Drugs need to be out of the profit business or they are no different than the drug cartels. Price fix them and get dangerous drugs from Big pharma off the market.
Do you have someone that tells you when to breathe?

I only ask because you seem to be too stupid to breathe on your own.

In case you haven't noticed, profits is what drives all businesses. Take out the profits, no business. In your scenario, no profits, no drugs. No drugs, people die. That simple but that seems to be well beyond your comprehension level. Either that, or you are a socialist.

If the latter, I suggest you move to Cuba or Venezuela.
serfs up

Kissimmee, FL

#6 Feb 14, 2013
JohnInLa wrote:
If you need medical advice just ask a community organizer...right.
Now...now....we all gotta give back to "da cummmmuuniiittee". I am still trying to figure that out after all these years. because frankly, "the community "has not done much for our culture in general except to cause pain for themselves and others and usher in a world based on a vicious collective mentality.

“We will never forget Obama's ”

Since: Mar 09

Muslim home boys killed 3000

#7 Feb 14, 2013
celticwarriors wrote:
Health care takes care of PEOPLE. Drugs need to be out of the profit business or they are no different than the drug cartels. Price fix them and get dangerous drugs from Big pharma off the market.
My doctor tells me Never take a drug that hasn't been on the market for at least 7 years.

“We will never forget Obama's ”

Since: Mar 09

Muslim home boys killed 3000

#8 Feb 14, 2013
Osama Obama Job Killer wrote:
<quoted text>Didn't you know he is an expert on everything?Healthcare,firearms ,climate change,gas,oil,diet,etc.wonder why he has never held a job?
LOL...so true!!

“We will never forget Obama's ”

Since: Mar 09

Muslim home boys killed 3000

#9 Feb 14, 2013
Bama Yankee wrote:
<quoted text>
Do you have someone that tells you when to breathe?
I only ask because you seem to be too stupid to breathe on your own.
In case you haven't noticed, profits is what drives all businesses. Take out the profits, no business. In your scenario, no profits, no drugs. No drugs, people die. That simple but that seems to be well beyond your comprehension level. Either that, or you are a socialist.
If the latter, I suggest you move to Cuba or Venezuela.
"Profit" is like the F word to most liberals.
Sheik Yerbouti

Pennington, NJ

#10 Feb 14, 2013
Why is it that I can get the same prescription meds out of the country for one fifth of what I would have to pay in the US? Personally I could care less if the drug companies are 'hurt.'

“Headed toward the cliff”

Since: Nov 07

Tawas City, Michigan

#11 Feb 14, 2013
Big Pharma, Big Oil, Big Coal, etc.

All out to screw the average American while they make trillions in profits.
serfs up

Kissimmee, FL

#12 Feb 14, 2013
The hope and change in power and nothing done about it as the media who can spend several months destroying a female tea party candidate from Delaware spend practically no time on this. Imagine spending every night on this. Being relentless about it. So blame the evil repubs who are basically the same on the other side. I don't believe these ph uks anymore. Enjoy the time we got left. And if you get poor...collect!

“So long to you, Righties”

Since: Jan 12

keep suckin' and whiffin'!

#13 Feb 14, 2013
Excellent. The prices of pharmaceuticals are RIDICULOUSLY high and profit has become the be-all and end-all of this industry. It needs to be turned into a non-profit industry aligned with government-sponsored development programs and serving the public good, not allowed to run amok and pull the money out of everyone's pocket.

Big Pharma is a major source of ever-escalating medical costs. Time to end that.

“So long to you, Righties”

Since: Jan 12

keep suckin' and whiffin'!

#14 Feb 14, 2013
American_Infidel wrote:
<quoted text>
"Profit" is like the F word to most liberals.
Righties, OTOH, fall on their knees and lick its boots the way they do everything concerning their beloved corporate capitalism.

“So long to you, Righties”

Since: Jan 12

keep suckin' and whiffin'!

#15 Feb 14, 2013
Bama Yankee wrote:
<quoted text>
Do you have someone that tells you when to breathe?
I only ask because you seem to be too stupid to breathe on your own.
In case you haven't noticed, profits is what drives all businesses. Take out the profits, no business. In your scenario, no profits, no drugs. No drugs, people die. That simple but that seems to be well beyond your comprehension level. Either that, or you are a socialist.
If the latter, I suggest you move to Cuba or Venezuela.
There's the sort of ignorance I'm talking about...:)
Jane Says

New York, NY

#16 Feb 14, 2013
tha Professor wrote:
Excellent. The prices of pharmaceuticals are RIDICULOUSLY high and profit has become the be-all and end-all of this industry. It needs to be turned into a non-profit industry aligned with government-sponsored development programs and serving the public good, not allowed to run amok and pull the money out of everyone's pocket.
Big Pharma is a major source of ever-escalating medical costs. Time to end that.
Let's put whoever runs the US Post Office in charge. Of course, there'll be no medicine on Saturdays.

“So long to you, Righties”

Since: Jan 12

keep suckin' and whiffin'!

#17 Feb 14, 2013
Jane Says wrote:
<quoted text>Let's put whoever runs the US Post Office in charge. Of course, there'll be no medicine on Saturdays.
Blame that one on Congress for forcing them to pay future retirement medical costs up front. The REST of the story...

“Forever Is Promised To No One”

Since: Nov 12

Location hidden

#18 Feb 14, 2013
WeTheSheeple wrote:
Big Pharma, Big Oil, Big Coal, etc.
All out to screw the average American while they make trillions in profits.
Show me one company in the world that netted trillions in profits........waiting. By the way, your class envy is showing.

“Forever Is Promised To No One”

Since: Nov 12

Location hidden

#19 Feb 14, 2013
tha Professor wrote:
<quoted text>
Blame that one on Congress for forcing them to pay future retirement medical costs up front. The REST of the story...
Don't you pay for your medical insurance up front. When does it stop, it stops the month your company quits paying for it. Many are behind in their payments to retirement funds. At least those funds charged in advance are guaranteed, not just promised.
No Thanks Obama

New York, NY

#20 Feb 14, 2013
tha Professor wrote:
<quoted text>
Righties, OTOH, fall on their knees and lick its boots the way they do everything concerning their beloved corporate capitalism.
Obama is a corporatist. Are you OK with that?


Timothy P. Carney
Senior political columnist
The Washington Examiner

Obama peddles corporatism
President Obama rolled out the same old corporatist industrial policy in his State of the Union address, while again pretending to wage war on the "special interests." In response, Republican Sens. Marco Rubio and Rand Paul both made real, but inadequate, gestures toward the appropriate antidote: free-market populism and an end to cronyism.

Obama spoke of "getting rid of tax loopholes and deductions for the well-off and well-connected," and chastised those who would "protect special interest tax breaks."

Obama is correct that these are problems, but if he is serious about fixing them, he has to change his ways. From day one, Obama has peddled "special-interest tax breaks" and "loopholes for the well-off and well-connected." His 2009 stimulus handed out tens of billions of dollars in green-energy tax breaks, with the lion's share going to large corporations.

In December 2012 the White House stuck $76 billion a year of special tax credits into the "fiscal cliff" legislation. The prime beneficiaries of the wind tax credits in that package -- General Electric and Siemens -- are decidedly "well-off and well-connected." GE spends more on lobbying than any other corporation, and the company's CEO, Jeff Immelt, is Obama's job czar. The lobbying shop at Siemens -- he gave the company a shout-out in his speech -- is run by a former top aide in Obama's Environmental Protection Agency.

Sure enough, Obama spent much of his address calling for more federal support for wind and solar energy. "As long as countries like China keep going all-in on clean energy, so must we," Obama said, never explaining why.

Obama's other policy proposals were well-worn corporatist standbys. He called on Congress to pass the rest of his 2011 American Jobs Act. The biggest piece would be the National Infrastructure Bank. This "bank" is modeled after existing corporate-welfare boondoggles, the Export-Import Bank and Fannie Mae.

Obama also pushed for a "bipartisan, market-based solution to climate change," referring back to similar efforts over the last decade. These all transfer wealth from electricity consumers to clever corporations like GE, Duke Energy and DuPont that had positioned themselves to profit from cap-and-trade climate schemes.

This is vintage Obama: Public-private partnerships, we gotta beat China, government has to "invest" in our future.

This year, though, Republicans showed they have begun to challenge these bromides. In the official GOP response, Rubio said, "More government isn't going to help you get ahead. It's going to hold you back ,,,, Because more government breeds complicated rules and laws that a small business can't afford to follow."

This is a true and important critique of Obamanomics. Obama's regulations don't rein in big business -- they protect big business from competition. That crushes entrepreneurship. As Obama himself said Tuesday, corporate earnings are at record highs. Meanwhile, new business starts are collapsing.'

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