Democratic Presidential candidate Hillary Clinton has turned to bashing drug companies, and in doing so, she’s exposing her ignorance of economics. Last Tuesday, she proposed in all seriousness
a $250 monthly cap on out-of-pocket prescription drug costs and other measures to stop what she called “price gouging” by pharmaceutical companies.
Under Clinton’s plan, the monthly cap would limit what insurance companies could ask patients to pay for drugs that treat patients with chronic or serious medical conditions.
Then she added this gem:
“We need to protect hard-working Americans here at home from excessive costs. Too often these drugs cost a fortune,” adding drug companies keep the profits for themselves while “shifting the cost to families.”
Well, yeah, they do keep the profits. Contra her BFF, President Barack Obama, they did build that.
Here’s a thought, Madam, for holding down costs for us “hard-working Americans here at home” about whom you claim to care so much: reduce the costs to the manufacturers by getting your Big Government’s regulations out of their way. Increase the incentives for manufacturers to reduce costs by getting your Big Government out of the way of competition.
And think about this: if your monthly cap, pulled straight out of rectal storage, plays out, what will be the cost of those drugs to us hard-working Americans here at home when the drug companies, unable to recoup their costs, stop manufacturing the drugs altogether?