GINGRICH: Former Speaker Sounds Off On Dems Plan To KILL COVID VACCINE PATENT
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President Biden's plan to temporarily waive intellectual property rights for COVID-19 vaccine makers amounts to "theft," charges former House Speaker Newt Gingrich.
"At the heart of all socialism is theft," he told Fox Business' Maria Bartiromo on Thursday. ... "When you steal from the productive people, they either quit being productive or they move."
Gingrich called it "a gigantic gift to the Chinese communists."
"They are the people who will have the biggest production facilities; they will do the most to produce it. They're thrilled," he said.
"Now they don't have to steal it. It's being given to them by Biden."
In addition, Gingrich said, the move will discourage investment.
"This will weaken the investment in new drugs worldwide and will cost lives," he said.
Bartiromo noted the Wall Street Journal called it "Biden's vaccine patent theft."
Supporters of the move insist that breaking the patents is necessary to expand global access to vaccines.
That's false, Bartimromo insisted, arguing that World Health Organization rules already allow low-income countries to license patents during emergencies, though they must negotiate an agreement with developers.
"So, we're supposed to just forget about all the money and innovation that went into this? Give it all away."