Politics Thread

[paulxu]

That seems like a good indicator of what might happen, the Penn Wharton Budget Model.
They do note that:

But the impact on inflation "is statistically indistinguishable from zero," the Penn Wharton Budget Model said on Friday.

Buried in the bill is a provision almost 20 years overdue. The Part D drug plan was passed in 2003, but Republicans prevented Medicare from negotiating with drug companies on drug pricing. Insurance companies could, but not the government.Tthat was finally changed.

The Wharton model has a good track record; they noted about the latest trickle down attempt passed in 2017:

Put simply, the model’s analysis finds that not only will the Senate tax plan not pay for itself, but it will add more than $1 trillion to the nation’s deficit in the next ten years.

They were right about that.

[Masterofreality]

That seems like a good indicator of what might happen, the Penn Wharton Budget Model.
They do note that:



Buried in the bill is a provision almost 20 years overdue. The Part D drug plan was passed in 2003, but Republicans prevented Medicare from negotiating with drug companies on drug pricing. Insurance companies could, but not the government.Tthat was finally changed.

The Wharton model has a good track record; they noted about the latest trickle down attempt passed in 2017:



They were right about that.

There is zero guarantee that having the GOVERNMENT negotiate drug prices that it will bring them down. In fact some analysts say that this may actually increase either the prices for some drugs or medical insurance premiums.
On the 2017 tax bill. So. Since it is so terrible Paul, and since YOUR side is in total control of all 3 legislative and executive branches,
How come that there has been no legislation proposed to change that 2017 bill? Huh?
Know why? Because it caused great economic growth, is popular, and is electoral suicide to change it. “Trickle Down” Economic Growth indeed!
You need to really improve your responses.

[bjf123]

Anyone care to guess what will happen when the government negotiates lower drug prices for Medicare? The drug companies aren’t going to simply accept lower selling prices on a boatload of sales and the related hit to earnings per share. They’ll make up the revenue somehow. I’m going to go out on a limb here and say the prices everyone else pays will go up.


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[bobbiemcgee]

Seems simple to me. Medicare pays the same as VA pays, not double or triple.

[paulxu]

There is zero guarantee that having the GOVERNMENT negotiate drug prices that it will bring them down. In fact some analysts say that this may actually increase either the prices for some drugs or medical insurance premiums.
On the 2017 tax bill. So. Since it is so terrible Paul, and since YOUR side is in total control of all 3 legislative and executive branches,
How come that there has been no legislation proposed to change that 2017 bill? Huh?
Know why? Because it caused great economic growth, is popular, and is electoral suicide to change it. “Trickle Down” Economic Growth indeed!
You need to really improve your responses.

Perhaps you should read the Penn Wharton budget analysis on the bill just passed, that you provided?

Trying to claw back some of the give away to the super high income groups.

Most, but not all, of the tax increases fall on higher income households. However, future generations, including higher-income households, gain from the improved economy, including a reduction in carbon emissions.

https://budgetmodel.wharton.upenn.ed...-reduction-act

[bobbiemcgee]

Know why? Because it caused great economic growth, is popular, and is electoral suicide to change it. “Trickle Down” Economic Growth indeed!
You need to really improve your responses.

Wrong as usual

https://www.thebalance.com/cost-of-t...x-cuts-4586645

[Strange Brew]

Perhaps you should read the Penn Wharton budget analysis on the bill just passed, that you provided?

Trying to claw back some of the give away to the super high income groups.


https://budgetmodel.wharton.upenn.ed...-reduction-act

They included reduced carbon emissions as an economic benefit? Seems like a soft analysis if so.

[Strange Brew]

Wrong as usual

https://www.thebalance.com/cost-of-t...x-cuts-4586645

Tax cuts are not a “cost”. Erroneous far Left way of thinking.

[bobbiemcgee]

Tax cuts are not a “cost”. Erroneous far Left way of thinking.

Rated "least biased" but then it won't make any difference to you, everybody's a leftist.

https://mediabiasfactcheck.com/the-balance/

"Overall, we rate The Balance Least Biased based on minimal use of loaded language and balanced reporting of financial news. We also rate them High for factual reporting due to excellent sourcing and a clean fact check record".

[Caf]

Anyone care to guess what will happen when the government negotiates lower drug prices for Medicare? The drug companies aren’t going to simply accept lower selling prices on a boatload of sales and the related hit to earnings per share. They’ll make up the revenue somehow. I’m going to go out on a limb here and say the prices everyone else pays will go up.


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Or worse they'll lower their costs aka research and development into cures for diseases or maybe even quality ~yeesh~. I know this doesn't fit into some of your narratives, if you were reasonable it would, the US pharmaceutical environment and industry have saved millions of lives from the covid vaccine development alone. Changing anything about it is a dangerous game, and we're doing it when their impact is as plain to see as ever. There's definitely not enough talk about the 95% excise tax buried in this bill.

Funny you mention everyone else's costs would go up as well, that's what Trump wanted to do, peg our costs to other countries'. Those countries are able to negotiate more aggressively as they know we'll bankroll the companies so they don't have to own the consequences of restricting their revenue.