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Tired of winning  yet? | LAST YEAR TRUMP'S TAX CUT GAVE PFIZER $2.8 B, JOHNSON & JOHNSON $2.5B, MERCK $1.2B, AND ABBOT LABS $437M; THIS YEAR ALL 4 RAISED PRICES ON PRESCRIPTION DRUGS. | image tagged in memes,but thats none of my business,kermit the frog,donald trump,taxes,big pharma | made w/ Imgflip meme maker
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4 Comments
3 ups, 6y
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1 up, 6y,
1 reply
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Your implying the purpose of the corporate tax cuts was to stop drug price increases. That was not the point. The point was to make America more competitive on a global scale. Even so-called "socialist" countries in Scandinavia had lower corporate tax rates than the USA did.
1 up, 6y,
1 reply
You don't make any sense. At all.

A tax cut to make them competitive on the global market?

this is a market where the drug prices are lower than what they were already offering here in the States. So. We give them a break on taxes. Then they raise prices.

To be competitive.

they raised prices above what is being offered on the hyper-competitive market.

You're saying "Hey, companies, we're going to make sure you pay less in taxes so you're keeping more money. In return, you'll raise prices on us so you get even more money. That you're not paying out as dividends. That you're not using to raise the pay of your workers. It's money you're straight pocketing for your already rich investors and board members."

That makes sense to you?
1 up, 6y
You're either 1. incredibly bad at reading or 2. You dont understand what the reasoning is behind tax cuts or 3. You are guilty of 1 and 2 simultaneously.

Tax cuts and drug prices are not related. Governments do not conduct tax policy based on prices of goods, in order to decrease the price of goods. This is absurd and embarrassing to even imply.

Our tax cuts were implemented to make OUR ECONOMY competitive on a global scale. To attract more corporate investment, as well as repatriation of capital held off shore by US companies. As stated, we had one of the highest corporate tax rates in the world. Even so called socialist countries in Scandinavia had lower tax rates than we did. Since the tax cuts multiple foreign companies have announced increased investment in the US economy (Soft Bank for example).

So no I am not saying "Hey, companies, we're going to make sure you pay less in taxes so you're keeping more money. In return, you'll raise prices on us so you get even more money. That you're not paying out as dividends. That you're not using to raise the pay of your workers. It's money you're straight pocketing for your already rich investors and board members."

In fact NO ONE is saying that. You are ascribing this false narrative to people who support tax cuts. Its a blatant lie and a pathetic argument to make.

Furthermore since the tax cuts, multiple major US companies have made announcements of pay increases. These include Banks, Manufacturing Companies, Telecom, And Retail.
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LAST YEAR TRUMP'S TAX CUT GAVE PFIZER $2.8 B, JOHNSON & JOHNSON $2.5B, MERCK $1.2B, AND ABBOT LABS $437M; THIS YEAR ALL 4 RAISED PRICES ON PRESCRIPTION DRUGS.