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BETSY MCCAUGHEY: Business Owners Beware — Price Controls Are Coming If Leftists Get Their Way

If you run a business, the left in Congress will chase you. The only thing that stands in their way is the US Constitution.

Whether you own a family-owned diner, an auto repair shop, or a stake in a multinational corporation, your property is at risk.

The plunder clause in the Constitution is meant to protect us from governments seizing our property without paying a fair price. But last year, when Democrats took control of both houses of Congress, they pushed through an anti-inflation bill that boasted that it would allow Medicare to “negotiate lower prices” on medicines for the elderly.

“Negotiate” is a lie. Under the new law, the government can forcefully order companies to sell the most popular drugs at prices dictated by Uncle Sam, or be taxed and extinguished within weeks. be able to. On June 6, pharmaceutical giant Merck filed a lawsuit, alleging that the law violated its constitutional rights.

Amen. This lawsuit is a red flag for anyone who owns or wants to own anything in America. (Related: Alexander Gray: Chinese Drugs Are America’s Most Dangerous Addiction)

The actual wording of the law is breathtakingly coercive, but let’s be honest, most lawmakers don’t bother reading the bill before they vote.

According to the law, companies that refuse to sell at government prices will receive 186% of their drug’s revenue from day one, plus taxes from the government, increasing daily until they reach 1,900% of their revenue. A sale subject to tax, all sale. That translates to hundreds of millions of dollars in taxes per day.

The company has no escape. Compare this coercion to price controls in socialist-leaning European countries, where pharmaceutical companies can refuse to sell at government prices.

Merck said it would face “heavier fines and be legally forced to sell its most valuable products for a fraction of their value.” This is not a “negotiation”. It’s tantamount to blackmail. ”

The law also prohibits the company from disclosing to the company what Medicare officials said about behind-the-scenes price “negotiations.” Worse, the law requires the company to publicly call the price it puts it down its throat “fair.”

Are you here in America too? Congress is restricting free speech and asking companies to say what they don’t believe.

Merck’s lawsuit argues that “Our Constitution does not permit us to be compelled to speak for the sake of state propaganda.” (Related: Brooklyn Roberts: Ditch the mask and make these common-sense coronavirus changes permanent instead)

Congress needs re-education on the Constitution. The Fifth Amendment to the Constitution prohibits the government from taking your property without just compensation. And the First Amendment prohibits the government from forcing you to say something against your will. These are the basis of Merck’s lawsuit.

The law being challenged is exactly what appears in George Orwell’s novel 1984, which depicts socialist despotism. The government sets the price of the product, which we call ‘negotiation’. If you refuse, your business will be taxed to death overnight. You are forbidden to reveal what is going on and are forced to declare the price “fair”.

If Merck’s lawsuit fails, who will be the next casualty? be. What about Army bed sheets, Air Force plane parts, and government employee restaurant food?

While the Merck case raises only constitutional issues, Americans should also know that drug price controls can pose health risks. Countries that impose price restrictions reduce patient access to new drugs. According to University of Chicago economist Thomas Philipson, French patients receive only half of the new treatments American patients receive.

Last week, the American Society of Clinical Oncology announced osimertinib, a treatment that improves survival by 51% for lung cancer patients who have had surgery and relapsed. Being a survivor myself, I clipped the article and put it in my desk drawer. I hoped it wouldn’t be necessary, but I’m glad it was possible.

Many politicians think that smearing pharmaceutical companies is good politics. They ignore the devastating impact of price controls on future pipelines of therapeutics.

This is a legitimate policy debate. But following the Constitution is not optional. Members of Parliament are sworn to this.

Merck’s case has been brought to the Supreme Court.

Tell Biden and left-wing lawmakers to read the 4,543 words of the Constitution and respect them.

Betsy McCoffee is a former Lieutenant Governor of New York and chair of the Commission to Reduce Deaths from Infectious Diseases. Follow her on her Twitter @Betsy_McCaughey. To learn more about Betsy McCoy and read other creators featured by her Syndicate writers and cartoonists, visit her Creators Syndicate website at www.creators.com.

Copyright 2023 Creators.COM

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