24. While drug firms have trumpeted their research innovations, they have developed few important new drugs in recent years. Indeed, drug stocks have slumped recently because investors fear that the pipeline of new drugs is largely empty. Among important new drugs that have been introduced in recent years, most were the products of either NIH-funded research, or were discovered at small firms and sold to the major drug firms at a late stage in their development. It appears that the evolving model of commercial domination of science, with many scientists and research universities scrambling to cut deals with drug firms, may be leading down a scientific dead end.
36. “… the most deadly challenge ever faced by the medical profession.” -President of the AMA (in 1961, talking about Medicare)
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Editor's Notes
How bad is the situation with respect to uninsurance in this country? It’s an epidemic, and it’s getting worse fast.
The uninsured as a population may surprise you. Half of them are employed – working hard to make ends meet. One quarter of them are children. Another 20% comprise homemakers, retirees, and the disabled. Only 5% of the uninsured are “able-bodied” unemployed people.
One way to start is by trimming the fat. There’s a lot of fat to trim.
But we still need more money, and I’d be painting too rosy a picture if we didn’t at least talk about new taxes. Now I’m no economist, so I’m going to do some simple back-of-the envelope calculations. Many have suggested differing taxes of different amounts. Let’s take one example. A simple payroll tax of 3.5%. This would likely raise between $200 and $250 million dollars. Most will see this as a bargain because health insurance usually costs far more than 3.5% of one’s income.
With NHI, there would be none of these. Even if we increased the income tax for all, these new taxes would likely b less than these costs.
The last is a statement made by the President of the AMA concerning socialized financed health care. He called it “…the most deadly challenge ever faced by the medical profession.” What makes this hyperbole even more difficult to swallow is the fact that this was said in 1961… about Medicare. Are there any people today, politicians, elderly, doctors – anyone – who believes that Medicare is the most deadly challenge the medical profession has faced? Let’s not get caught on the wrong side of this issue again.