REPOST - Socialism Would Destroy Prescription Drug Markets
At MAGA Louisiana, we're always watching out for creeping socialism in our country!
These days with AOC, Elizabeth Warren, and Bernie Sanders at the forefront of the Democratic Party, socialized medicine is at the forefront of their agenda. Some in the government are pushing a drug pricing scheme that would cause shortages and harm longterm for our patients!
In an article for Newsmax, Dan Perkins pulled from history to illustrate how this is a bad idea !
For proof, just look at gasoline.
In the 1970s, oil producing nations imposed an embargo to squeeze supply and increase prices. The American government reacted by imposing price controls that limited how much providers could charge for gasoline. The problem was that nobody was willing to produce or sell oil at that price.
“The shortages were, in fact, a byproduct of price controls imposed by President Nixon in August 1971, which prevented oil companies from passing on the full cost of imported crude oil to consumers at the pump,” CATO analysts Jerry Taylor and Peter Van Doren wrote. The shortages only ended in the 1980s, after President Ronald Reagan lifted price controls. Oil companies, freed up to make money again, soon flooded the market with fuel. Prices went down and have basically stayed down since.
It’s not magic. It’s markets.
Something similar could happen with prescription drugs.
Makes sense to us! History and economics have taught us that Government Set Price Controls never work out well long-term.
Let's hope our leaders in Congress come to their senses and realize the same thing!
For the full article, check out - Socialism Would Destroy Prescription Drug Markets | Newsmax.com