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The Water Cooler
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Colorado May Replace Obamacare with Single Payer
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<blockquote data-quote="_CY_" data-source="post: 2876044" data-attributes="member: 7629"><p>what a load of BS .. yes Friedman calls for more taxes on payrolls and capital gains to pay for single payer, but you conveniently forget to factor in reduction/elimination in what most pay into insurance premiums will more than off-set tax increases. Friedman claims overall healthcare costs would come down by a substantial margin. you obviously didn't read/watch the supporting documentation before making comments as usual.</p><p></p><p>I've repeated stated Obamacare fuels the runaway costs problem and is non-sustainable. what's amazing is how very few are even mentioning the crux of the problem which is how heathcare costs has gone up and up and up .. Obamacare's runway real costs simply gets passed on to the taxpayer.</p><p></p><p>unfortunately root of the problem lays within our political system which has passed laws that distorts the marketplace. essentially allowing below to happen:</p><p></p><p></p><p><a href="https://fee.org/topics/Economics" target="_blank">Economics</a></p><p></p><p><span style="font-size: 22px"><strong>The Pill Whose Price Went Up 5000%? It Costs 5 Cents in India.</strong></span></p><p></p><p><span style="font-size: 18px"><strong>Another case of government distorting the market</strong></span></p><ul> <li data-xf-list-type="ul"><a href="https://fee.org/people/alexander-tabarrok" target="_blank"> Alex Tabarrok is a professor of economics at George Mason University</a></li> </ul><p>September 25, 2015</p><p></p><ul> <li data-xf-list-type="ul"><a href="https://fee.org/resources/topics/price" target="_blank">#Price</a></li> </ul> <ul> <li data-xf-list-type="ul"><a href="https://fee.org/resources/topics/health-care" target="_blank">#Health Care</a></li> </ul> <ul> <li data-xf-list-type="ul"><a href="https://fee.org/resources/topics/regulation" target="_blank">#Regulation</a></li> </ul> <ul> <li data-xf-list-type="ul"><a href="https://fee.org/resources/topics/protectionism" target="_blank">#Protectionism</a></li> </ul> <ul> <li data-xf-list-type="ul"><a href="https://fee.org/resources/topics/free-trade" target="_blank">#Free Trade</a></li> </ul><p>The drug Daraprim was increased in price from $13.60 to $750, creating <a href="http://www.nytimes.com/2015/09/21/business/a-huge-overnight-increase-in-a-drugs-price-raises-protests.html" target="_blank">social outrage</a>. I’ve been busy, but a few points are worth mentioning.</p><p></p><p>The drug is a generic and not under patent so this isn’t a case of IP protectionism. The story as I read it is that Martin Shkreli, the <a href="http://www.nytimes.com/2015/09/23/business/big-price-increase-for-an-old-drug-will-be-rolled-back-turing-chief-says.html?_r=0" target="_blank">controversial CEO</a> of Turing pharmaceuticals, noticed that there was only one producer of Daraprim in the United States and, knowing that it’s costly to obtain even an abbreviated FDA approval to sell a generic drug, saw that he could greatly increase the price.</p><p></p><p><img src="https://fee.org/media/12143/drugs-india.png?width=328px&height=283px" alt="" class="fr-fic fr-dii fr-draggable " style="" /></p><p></p><p>It’s easy to see that this issue is almost entirely about the difficulty of obtaining generic drug approval in the United States because there are <a href="http://www.medlineindia.com/antibiotic/sulfadoxine_with_pyrimethamine.htm" target="_blank">many suppliers in India</a>, and prices are incredibly cheap.</p><p></p><p>The prices in this list (right) are in India rupees. 7 rupees is about 10 cents so the list is telling us that a single pill costs about 5 cents in India compared to $750 in the United States!</p><p></p><p>It is true that there are real issues with the quality of Indian generics. But Pyrimethamine is also widely available in Europe. I’ve long argued for <a href="http://marginalrevolution.com/marginalrevolution/2013/11/the-fda-and-international-reciprocity.html" target="_blank">reciprocity</a>: if a drug is approved in Europe it ought to be approved here. In this case, the logic is absurdly strong. The drug is already approved here!</p><p></p><p>All that we would be doing is allowing import of any generic approved as such in Europe to be sold in the United States.</p><p></p><p>Note that this in not a case of reimportation of a patented pharmaceutical for which there are real questions about the <a href="http://marginalrevolution.com/marginalrevolution/2015/09/are-pharmaceutical-drug-prices-too-high.html" target="_blank">effect on innovation</a>.</p><p></p><p>Allowing importation of any generic approved for sale in Europe would also solve the issue of so-called closed distribution.</p><p></p><p>There is no reason why the United States cannot have as vigorous a market in generic pharmaceuticals as does India.</p><p></p><p><a href="https://fee.org/articles/the-pill-whose-price-went-up-5000-it-costs-5-cents-in-india/" target="_blank">The Pill Whose Price Went Up 5000%? It Costs 5 Cents in India. | Alex Tabarrok</a></p></blockquote><p></p>
[QUOTE="_CY_, post: 2876044, member: 7629"] what a load of BS .. yes Friedman calls for more taxes on payrolls and capital gains to pay for single payer, but you conveniently forget to factor in reduction/elimination in what most pay into insurance premiums will more than off-set tax increases. Friedman claims overall healthcare costs would come down by a substantial margin. you obviously didn't read/watch the supporting documentation before making comments as usual. I've repeated stated Obamacare fuels the runaway costs problem and is non-sustainable. what's amazing is how very few are even mentioning the crux of the problem which is how heathcare costs has gone up and up and up .. Obamacare's runway real costs simply gets passed on to the taxpayer. unfortunately root of the problem lays within our political system which has passed laws that distorts the marketplace. essentially allowing below to happen: [URL='https://fee.org/topics/Economics']Economics[/URL] [SIZE=6][B]The Pill Whose Price Went Up 5000%? It Costs 5 Cents in India.[/B][/SIZE] [SIZE=5][B]Another case of government distorting the market[/B][/SIZE] [LIST] [*][URL='https://fee.org/people/alexander-tabarrok'] Alex Tabarrok is a professor of economics at George Mason University[/URL] [/LIST] September 25, 2015 [LIST] [*][URL='https://fee.org/resources/topics/price']#Price[/URL] [/LIST] [LIST] [*][URL='https://fee.org/resources/topics/health-care']#Health Care[/URL] [/LIST] [LIST] [*][URL='https://fee.org/resources/topics/regulation']#Regulation[/URL] [/LIST] [LIST] [*][URL='https://fee.org/resources/topics/protectionism']#Protectionism[/URL] [/LIST] [LIST] [*][URL='https://fee.org/resources/topics/free-trade']#Free Trade[/URL] [/LIST] The drug Daraprim was increased in price from $13.60 to $750, creating [URL='http://www.nytimes.com/2015/09/21/business/a-huge-overnight-increase-in-a-drugs-price-raises-protests.html']social outrage[/URL]. I’ve been busy, but a few points are worth mentioning. The drug is a generic and not under patent so this isn’t a case of IP protectionism. The story as I read it is that Martin Shkreli, the [URL='http://www.nytimes.com/2015/09/23/business/big-price-increase-for-an-old-drug-will-be-rolled-back-turing-chief-says.html?_r=0']controversial CEO[/URL] of Turing pharmaceuticals, noticed that there was only one producer of Daraprim in the United States and, knowing that it’s costly to obtain even an abbreviated FDA approval to sell a generic drug, saw that he could greatly increase the price. [IMG]https://fee.org/media/12143/drugs-india.png?width=328px&height=283px[/IMG] It’s easy to see that this issue is almost entirely about the difficulty of obtaining generic drug approval in the United States because there are [URL='http://www.medlineindia.com/antibiotic/sulfadoxine_with_pyrimethamine.htm']many suppliers in India[/URL], and prices are incredibly cheap. The prices in this list (right) are in India rupees. 7 rupees is about 10 cents so the list is telling us that a single pill costs about 5 cents in India compared to $750 in the United States! It is true that there are real issues with the quality of Indian generics. But Pyrimethamine is also widely available in Europe. I’ve long argued for [URL='http://marginalrevolution.com/marginalrevolution/2013/11/the-fda-and-international-reciprocity.html']reciprocity[/URL]: if a drug is approved in Europe it ought to be approved here. In this case, the logic is absurdly strong. The drug is already approved here! All that we would be doing is allowing import of any generic approved as such in Europe to be sold in the United States. Note that this in not a case of reimportation of a patented pharmaceutical for which there are real questions about the [URL='http://marginalrevolution.com/marginalrevolution/2015/09/are-pharmaceutical-drug-prices-too-high.html']effect on innovation[/URL]. Allowing importation of any generic approved for sale in Europe would also solve the issue of so-called closed distribution. There is no reason why the United States cannot have as vigorous a market in generic pharmaceuticals as does India. [URL='https://fee.org/articles/the-pill-whose-price-went-up-5000-it-costs-5-cents-in-india/']The Pill Whose Price Went Up 5000%? It Costs 5 Cents in India. | Alex Tabarrok[/URL] [/QUOTE]
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