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posted by janrinok on Tuesday January 14 2020, @02:35AM   Printer-friendly
from the states'-rights-eh-eh? dept.

California considers selling its own generic prescription drugs:

California could become the first state to introduce its own brand of generic prescription drugs in an effort to drag down stratospheric healthcare costs. The plan for state-branded drugs is part of California Gov. Gavin Newsom's budget proposal, which he is expected to unveil Friday, January 10.

"A trip to the doctor's office, pharmacy or hospital shouldn't cost a month's pay," Newsom said in a statement. "The cost of healthcare is just too damn high, and California is fighting back." A plan for California to sell its own drugs would "take the power out of the hands of greedy pharmaceutical companies," Newsom said, according to the Associated Press.

Under the plan, the state would contract with one or more generic drug companies, which would manufacture select prescription drugs under a state-owned label, according to an overview of the plan reported by the Los Angeles Times. Those state generics would presumably be offered to Californians at a lower price than current generics, which could spark more competitive pricing in the market overall.

So far, much of the plan's details are unclear, though, including which drugs might be sold and how much money they could save residents and the state.

The conceptual plan so far has garnered both praise and skepticism from health industry experts.

Anthony Wright, executive director of the advocacy group Health Access California, told the Associated Press that "Consumers would directly benefit if California contracted on its own to manufacture much-needed generic medications like insulin—a drug that has been around for a century yet the price has gone up over tenfold in the last few decades."


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  • (Score: 5, Insightful) by anubi on Tuesday January 14 2020, @03:47AM (6 children)

    by anubi (2828) on Tuesday January 14 2020, @03:47AM (#942979) Journal

    I am one who bought a house long time ago. Sell it? Hah! Government considers all that increase in dollars as taxable gain.

    Is the house more valuable. Hell no. It's a 50 year old house. It's the dollar that's not worth much. But the tax law does not allow one to take depreciation on holding a dollar, but they will allow me to claim depreciation if I tie up another house I don't live in.

    I have homeless people all around me, while tax law goads us to hoard up housing for tax purposes.

    The system is fscked up.

    We are rewarded for doing destructive things. Penalized for doing constructive things.

    --
    "Prove all things; hold fast that which is good." [KJV: I Thessalonians 5:21]
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  • (Score: 3, Insightful) by epitaxial on Tuesday January 14 2020, @04:49AM (3 children)

    by epitaxial (3165) on Tuesday January 14 2020, @04:49AM (#943003)

    Why are used cars taxed every time they change hands? The state already got their cut. Taxing again is pure greed.

    • (Score: 5, Insightful) by anubi on Tuesday January 14 2020, @05:07AM (1 child)

      by anubi (2828) on Tuesday January 14 2020, @05:07AM (#943004) Journal

      While high speed traders buy and sell all day, sometimes holding for seconds during a move. And avoid tax.

      --
      "Prove all things; hold fast that which is good." [KJV: I Thessalonians 5:21]
      • (Score: 0) by Anonymous Coward on Thursday January 16 2020, @04:54AM

        by Anonymous Coward on Thursday January 16 2020, @04:54AM (#943906)

        What are you talking about. If you buy and sell a stock in the same day the profits are considered ordinary income and you pay taxes no different than if you were working.

        If you hold a stock over a year then it counts as long term capital gain and you get taxed at a lower rate.

    • (Score: 0) by Anonymous Coward on Tuesday January 14 2020, @06:51PM

      by Anonymous Coward on Tuesday January 14 2020, @06:51PM (#943193)

      pure theft. they are criminals. until people realize this and start resisting we will remain slaves.

  • (Score: 1) by VacuumTube on Tuesday January 14 2020, @07:11PM

    by VacuumTube (7693) on Tuesday January 14 2020, @07:11PM (#943211) Journal

    "I am one who bought a house long time ago. Sell it? Hah! Government considers all that increase in dollars as taxable gain."

    In the U.S. you get a $500K exemption ($250K if you're single) every two years on the sale of a home, as long as you've lived in it two of the last five years. https://realestate.findlaw.com/selling-your-home/the-home-sale-tax-exemption.html [findlaw.com]

  • (Score: 2) by hendrikboom on Friday January 17 2020, @02:55PM

    by hendrikboom (1125) Subscriber Badge on Friday January 17 2020, @02:55PM (#944533) Homepage Journal

    Where I live, houses have gone up in price a lot faster than inflation. The winning strategy turned out to be to buy the biggest house you can afford, and later sell it and buy the smaller house you need.

    And where I Live your primary residence -- the place you actually live, is not subject to capital gains tax. No, they won't let you live in two places at the same time for this, not let you and your spouse live in different paces without a formal separation or divorce agreement. And if you work at home, the part of your residence used primarily for work is not exempted from capital gains tax. And mortgage interest for your residence is not tax-deductible.