The White House has made no secret about its war on profits. From the banking sector to the health care field, the Administration has sought to tax and regulate virtually anyone with a positive balance sheet. There is, however, one notable exception – the big pharmaceutical companies and their trade association, PhRMA.
As Politico’s Ben Smith reports, “while insurance industry profits remain a standard point of denunciation, Democrats have been notably quiet on drug industry profits, which are a lot larger.”
Why are the Administration and Democrats in Congress silent when it comes to PhRMA? The answer is simple. Democrats have been gulping down the drug industry’s Obamacare concoction – a “silence” serum that began as an $80 to $100 billion backroom deal mixed with $150 million in advertisements to promote the Democrats’ government takeover of health care. Given the sinking poll numbers, especially in swing districts, of the Democrats’ health care bill, the New York Times is now reporting that PhRMA has created a new, next-generation elixir beefed up with another $12 million in advertisements as a last-ditch effort to prop up Obamacare.
While money can’t buy love, and it certainly won’t lower health insurance premiums for Americans, PhRMA’s costly “silence” serum certainly has worked on the Democrats – at least for now.