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The Democrats’ Lifespan Reduction Act

Posted on Thursday, August 4, 2022
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by Outside Contributor
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50 Comments
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Across the pond, Brits are demanding their next prime minister do something to reduce the U.K.’s notorious cancer death rates. But here in the U.S., Democrats are doing the opposite. They’re pushing for European-style price controls on drugs that will slow cancer cures and lead to more deaths. Americans enjoy the highest cancer survival rates in the world — but maybe not for long.

Democratic Sens. Chuck Schumer and Joe Manchin call their legislation the Inflation Reduction Act. Don’t let the title fool you. The bill cripples the ability of drug companies to develop new cures. It should be called the Lifespan Reduction Act.

The only disagreement is how grave the impact will be. The Congressional Budget Office lowballs the number of new drugs that will never be developed and declines to predict the “effects of forgone innovation on public health.” But the Office of Health Economics, a think tank, foresees “significant losses in biopharmaceutical innovation and hence health for the U.S. and global populations over the coming decades.”

The Global Colon Cancer Association, which helps patients battling cancer, warned on Tuesday that the bill “will backfire, leading to less of the medical innovation we need to finally defeat cancer.”

It’s amazing that Congress is ignoring these warnings. Democrats are bragging about reducing prescription drug prices but are not admitting that you could be paying for that discount down the road with your life.

Democrats claim the government will “negotiate” with drug companies to reach a fair price. Untrue. The bill says government will dictate the price. Any company that refuses that price will get hit with a tax as high as 95% of revenue. That’s a gun to the head, not a negotiation. Democrats are playing word games with “negotiate,” just as they did with “recession.”

Medical investors look at the expected future revenue from a drug to decide how much to invest. Even non-American companies rely on selling in the American market for their profits. But the proposed price controls tell investors to put their money in some other industry, not medical innovation.

European drug developers led the world, until price controls shut down innovation. Now, drug development in Europe attracts only 3% of the investment capital available in the U.S. It’s a warning.

Countries that promote drug development have better cancer survival rates, reports Columbia University economist Frank Lichtenberg, who compared rates in 36 countries.

The U.S. proves the point. Cancer death rates here have plunged since 2000. Research in the Journal of Medical Economics shows that since that year, more than 1.3 million cancer patients have been saved by new treatments for 15 different types of cancer.

Don’t expect that to continue under price controls. The University of Chicago’s Tomas J. Philipson and Troy Durie calculate that hundreds of potential cures will go undeveloped over the next decade, leading to a loss of life greater than what we’ve experienced from COVID. These are lives that would be saved if the current pace of innovation continued, instead of being blocked by the Manchin-Schumer deal.

Is their price control scheme even constitutional? The Congressional Research Service suggests forcing drug manufacturers to lower prices for all customers, not just government, might violate the takings clause of the Fifth Amendment. Certainly, a 95% tax on revenues of companies that refuse could be considered “excessive” punishment under the Eighth Amendment.

Even so, Democrats are rushing to pass their 725-page bill, with its many varied provisions and cockeyed priorities. The bill pours hundreds of billions of public dollars into companies that install solar panels and build electric vehicles in the name of saving the planet.

But the same bill strips biotech and drug companies of the ability to attract billions in research and development funds and produce the next generation of cures. As if saving the planet is all important, and saving lives no longer matters.

Betsy McCaughey is a former lieutenant governor of New York and chairman of the Committee to Reduce Infection Deaths. Follow her on Twitter @Betsy_McCaughey.

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Donald Christian
Donald Christian
1 year ago

Colorado once had a dem governor that said people have a “duty to die”.

Ref
Ref
1 year ago

Seriously? Does anyone in America believe that the Dems actually care about the people of this nation. The Dems only care about staying in power and spending money. And looks what’s happening. Every single policy that JB has enacted, by legislation has or executive action has failed. Wake up American voters and remove these evildoers from office before it’s too late!

Ty
Ty
1 year ago

If this bill passes most of the upfront money will be used to pay back donator’s and keep Democrate seats away from Conservative Republicans. Shame on all of them for paying for votes! That’s voter fraud too!

Bill T
Bill T
1 year ago

There diabolical and couldn’t care less about our American citizens, they already have actuaries costing out what your life is worth to them. Young and productive but requires a $500 k medical treatment to keep them alive, maybe? Old and to them no longer worth the 500 k for treatment ( that would extend there lives by maybe 10-15 years or more, no way , sorry but we have a very compassionate end of life treatment for you! Unless of course you’re an elitist leftist, any thing and spare no cost to keep them alive! Yes it’s true.

Paul Tschiderer
Paul Tschiderer
1 year ago

So the greedy captialist are pissing and moaning that they are making fewer billions in profits and a few thousands less in bonuses. Total bulk shit. THE CUTUZENS ARE TO BE PROTECTED BY THE GOVERMENT. Increasing profits ever year is secondary. I am sure the Democrats plan is corrupt look who sponsored it. The Republicans encouraged these greedy captialist. I think these companies should be held responsible for the thousands who die and suffer because of their greed. Sometimes a new idea is necessary to improve a bad situation. So how about placing regular people on these board of directors and pay them based on success and how in expensive the drugs become and how many new useful drug cures come about each yeay

Ann Grace
Ann Grace
1 year ago

What better way to lower the world’s population than to discourage medical companies from coming up with cures.

John
John
1 year ago

People didn’t seem to notice the Affordale Care Act ended federal funding of gerontological research.Why people would want to get their Healthcare provided to them by an institution that financially benefits from their premature demise is beyond me.

Chris Wilborn
Chris Wilborn
1 year ago

Nothing new here : ” Your Democrat Congress at work “If it ain’t Woke, We’ll Fix That .

Mike
Mike
1 year ago

Deplorable left wing scum. Not shocked though.

James
James
1 year ago

Climate change is a bigger lie than Covid. Covid does exist. An expose on climate change needs to be done. The so called “green energy” is thus because of all the “green” it will cost the American taxpayers! Wind and solar actually uses more fossil fuels to produce that coal, nuclear, natural gas and oil. They would necessarily increase mining throughout the world by 2000% and storage costs would increase 400%. And this doesn’t even consider how much more inefficient and inconsistent they are! This spending bill is just another cleptomaniac effort by greedy politicians to over spend money that doesn’t belong to them. We are being led by utter fools!

CB
CB
1 year ago

Still say his smells like the
3rd reich

Cam S
Cam S
1 year ago

I’m just tired at the fabrications (outright deceits), of maxist autocrats saying their policies are beneficial to America, but they know they are destroying this country. Manchin & Sinema will pay on their reelection for office.

PaulE
PaulE
1 year ago

Well I see Sinema formally announced she will support this bill tonight. Right on cue for a quick vote to be put together by Schumer this weekend. Expect this to be passed by the Congress by Sunday night and on Biden’s desk for his signature Monday morning. Say hello to the 87,000 new IRS agents that will soon be on board to audit everyone every year. Whatever it takes to wring every penny out of the masses.

Another big win for the Socialists as we continue to march to our ruin. Hey it was fun while the country lasted. At least Putin, Xi and the Ayatollah of Iran are having a good chuckle at our expense.

Hal
Hal
1 year ago

Manchin and Shummer are at it again. It’s not clear to me what motivates them on this issue, but I am pretty convinced it is not good as it affects the majority of Americans … but somehow good for the DemocRat Party!

Dennis
Dennis
1 year ago

Everyone in Senator Manchins state should be reminded that if their Senator goes ahead and supports this bill he will be leading an effort that will hurt them financially through higher taxes, hurt them financially by killing the coal industry and physically hurting them by the negative actions regarding pharmaceuticals. Joe Manchin is just another Democrat is what should be taken to heart should he backstab his constituents and vote for this bill.

Chuck
Chuck
1 year ago

Like I have stated before, DEMS are all about Power and CONTROL. They will NEVER come up with any good ideas that would benefit humanity. DEMS are a death cult from start to finish. Conceed NOTHING to them, You have to be brain dead to be DEMOCRAT. No sane person who has read any of the legistration they have come with would say their Legislation was written by a sane individual.

Myrna Wade
Myrna Wade
1 year ago

It is easy to favor lower prices. The case needs to be made that artificial price controls have a history of bad results, but in the case of medicine, we need to see the value of the research that will not be possible if nobody pays for it. Thank you for this well-reasoned piece.

Carol
Carol
1 year ago

The death of millions is part of the climate change alarmists plans! Less people, more resources for themselves! These democrats see people as utility…how much value are you to the STATE! If you are of little value, then you are no longer necessary! This is the power structure to come if the sheep who worship these democrats don’t wake up! Truth will set you free but only if you know the truth!!!

Wayne Heggemeier
Wayne Heggemeier
1 year ago

Wait a minute, you want to listen to Big Pharma’s “Oh wow as me” b.s.? We can’t have it both ways.
Big Pharma is paying their upper echelon people and their shareholders big money based on their profit margins, correct? How much of that profit are they using on their R&D budget? Or are they relying on the Fed’s largesse to cover the most vital and (should be) primary reason for their existence? The development of better cures for what ails their clientele.
Cutting their profit margin should affect the shareholders and, more so, company executives, without a detrimental reduction in their R&D work load.
Bottom line, particularly within this slice of the American populace, and after what we’ve gone through over the last 2½ years, none of us should be supporting what Big Pharma and their minions like Fauci, Schumer, Pelosi, and Biden are claiming. They have a responsibility to lower drug prices by reducing how much the Elite are getting paid, not to limit what should be their primary source of future income. Do you really want to trust Big Pharma? I certainly do not.

Arlene
Arlene
1 year ago

Do these liberal idiots think they and their children are immune to cancer?

BACKWOODS
BACKWOODS
1 year ago

SELECTIONS have CONSEQUENCES. Get involved and push back. Get out and vote. Stay in constant contact with your elected officials. Now is not the time to ease up we need to get our Country turned around. If you can post here and on social media you can email your elected officials.
Keep the faith God will help us get our country back from this evil.

Rik
Rik
1 year ago

I wouldn’t trust Chucky Schlmiel with anything less than “pandering” for new Democratic Party voters! Both he and Nancy should be prosecuted as Enemies of the People!

tika
tika
1 year ago

the aon (all or none) ideas of the dems are the mark of pseudo intellectuals.

Dolores Doty
Dolores Doty
1 year ago

The Dems have shown they have no respect for life of the unborn, now even less respect for the elderly. As long as they keep getting kick backs and it doesn’t affect them and theirs it will never change.

PaulE
PaulE
1 year ago

Hey, nobody ever said the transition from a representative republic to your typical socialist democracy, where living standards for the common man are much lower and opportunities are nil, would either be pleasant or fun for the average person. Systematically dismantling the incentives of our capitalistic system, that has produced the most vibrant economic and successful society in the history of mankind, in order to make way for your typical socialistic government, entails a lot pain and suffering on the part of the general public. I mean a LOT of pain and suffering.

I’ve seen what the end result looks like in several other countries around the world and we are no where near being completed with this destructive process. Just remember what Klaus Schwab said “By 2030 you will own nothing and you will be happy”…or else. The or else part is self explanatory.

Eric Young
Eric Young
1 year ago

Schumer is the biggest fool in Washington after Biden, of course! Nothing the clown does is ever for the good of the country, only another nail in our coffin.

Stephen Russell
Stephen Russell
1 year ago

We need more drugs to counter cancer NOT less OR organic etc

Michael J
Michael J
1 year ago

Everything and I mean everything the government touches turns to disaster. It costs politicians nothing o be wrong and We the people everything. Ironically, elected idiots somehow believe they know what’s best. Remember Obama care? Pelosi said it best “We have to pass it to see what’s in it”. This madness has to stop.

David Millikan
David Millikan
1 year ago

The FASCIST liberals are cutting their own throat.
Here’s the knife and don’t stop since it will affect them like everybody else.
Even their FANTASY WORLD can’t protect them.
For they ARE INCLUDED in their population CONTROL scheme too.

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