A Winning Strategy for Democrats in 2024
by John Lawrence
Democrats should add one item to their already impressive list of campaign strategies such as reproductive freedom, lowering drug prices, the Inflation Reduction Act, the Chips Act and more! They should take the wind out of the only Republican economic sail that they can offer: tax cuts. Dems should run on a tax break for the middle class paid for by a tax increase on billionaires and multimillionaires. They could also throw in a financial transactions tax but that would not be well understood by most voters. However a tax cut for the middle class would be well understood, and taxing billionaires more to pay for it would be equally well understood. All the arcane computations to achieve this scenario need not even be mentioned. That would be getting down in the weeds and too wonky for the average state of ignorance of the American public.
Biden is still at work on his Build Back Better agenda. Witness:
WASHINGTON (AP) — President Joe Biden touted the potential cost savings of Medicare’s first-ever price negotiations for widely used prescription drugs on Tuesday as he struggles to convince Americans that he’s improved their lives as he runs for reelection.
The drugs include the blood thinner Eliquis, diabetes treatment Jardiance and eight other medications. The negotiation process was authorized under the Inflation Reduction Act, which Biden signed last year, capping decades of debate over whether the federal government should be allowed to haggle with pharmaceutical companies.
Any lower prices won’t take effect for three years, and the path forward could be further complicated by litigation from drugmakers and heavy criticism from Republicans.
But the effort is a centerpiece of Biden’s reelection pitch as the Democrat tries to show Americans he’s deserving of a second term because of the work he’s doing to lower costs while the country is struggling with inflation. The drug negotiations, like many of Biden’s biggest policy moves, will take time to play out, and his challenge is to persuade the public to be patient.
So as part of the Inflation Reduction Act, Medicare gained the right to negotiate with pharmaceutical companies over drug prices. This is huge. Other countries have been doing this for years. Prices are substantially higher compared with European countries. One explanation for this price differential is that, unlike in the US, national health authorities in Europe negotiate new drug prices with manufacturers. Until now, that is. For the first time the government will be able to negotiate drug prices down at least for Medicare. This is still not the case for the general public however. For them they will still have to pay through the nose unlike any other civilized country. Unlike almost every other "democracy", the US does not have universal health care. Predatory drug corporations can still sock it to the American people. Democrats need to keep hammering away at making universal health care a right and a reality for the American people.