Kamala Harris wants to destroy R&D in 100 days
How much proof do you need that Democrats have no idea how economics works or how to run a business?
Presidential candidate Kamala Harris Tweeted this thinking it was a good idea:
As president, I’ll give Congress 100 days to send legislation to my desk to stop Big Pharma from raking in massive profits at the expense of Americans.
If Congress won’t act, I will.
— Kamala Harris (@KamalaHarris) July 21, 2019
Profits drive investment, investment drives R&D. Without profits, companies contract and the first thing to get cut is R&D.
Always.
Massive profits make R&D possible.
So Kamala Harris believes, or is banking on her followers believing (or both), that the government can curtail the profits of the pharmaceutical industry and all that will happen is that fat-cat executives will have to cut back on their cocaine and $1000/hour hooker parties aboard their champagne powered mega-yachts.
What will really happen is that new drug development will drop to zero meaning that eventually, the big pharmaceutical companies will go belly up as their IP goes generic.
The real result of her executive action will be:
- New and better cures for diseases or conditions will go undiscovered.
- Lots of people will lose their jobs.
- The economy will take a massive hit.
- Sick people will suffer.
But at least no fat-cat executives will be making huge profits, and this is something for the envy mongers.
What I can’t figure out is if this destruction of pharmaceutical R&D is a feature or a bug.
What I do know is that whenever I have seen pharmaceutical executives testify before Congress, the one question I want someone to ask, I’ve never seen asked.
“Alright. Tell me, as a member of Congress, what I can do to make it possible for you pharmaceutical companies to make crazy huge profits while at the same time lowering the cost of your drugs to the consumer?”
If the goal is lowering drug costs that should be the focus. Not attacking the profits of the industry. I want high profits for R&D with low drug costs.
I believe it’s possible to have low-cost drugs and high profits for R&D, then again, I don’t hate it when other people make a profit.
And personally, I don’t care how some pharmaceutical CEO sleeps on top of a pile of gold like a dragon’s hoard, if the exchange is that if some woman in my life that I love gets breast cancer, the latest and greatest chemotherapy saves her life with no surgery and minimal side effects.