Speaker Nancy Pelosi released a 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
If all that sounds suspiciously like "Medicare for all," it should. This extreme tax hike on the prescription medicines we all take would fit very nicely into similar socialized medicine plans pushed by presidential front-runners. It’s so radical that it doesn’t even try to hide what it’s doing.
This 95% Pelosi Medicine Tax is which, of course, is actually paid by you and me at the pharmacy counter or in our health insurance premiums, they can submit their drug to government arbitration, which is another term for a price control. This price control would have a ceiling of no more than 120% of the cost of the drug in the six biggest non-U.S. industrialized countries.
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