It's not only seniors who are being robbed. Whatever the price of non-Medicare drugs sold in Florida, if it is higher than in Canada and other countries, the tax is 110% of that difference, and the same program applies to all prescription drugs sold to everyone in Florida. Again, the administrative cost of reimbursing pharmacies is covered by the extra 10%.
Either the pharma companies agree to fair pricing and avoid the tax, or we make the pricing fair using the tax money.
Both way, all Floridians will pay the lowest prices for prescription drugs--and we will likely pick up a few million "prescription tourists" too.
If our legislature won't vote for this nice tax, we can use Direct Democracy. I will lead the petition drive to get this matter on the ballot, so the people can vote to add it to Florida's constitution.
This issue goes far beyond seniors on Medicare. There is a huge impact on our state's economy.
Florida has over 3.3 million seniors 65+, the highest percentage of any state. They are overpaying at least $5 billion per year for prescription drugs. $5 billion per year circulating in Florida's economy would generate $25 billion per year in economic activity in Florida. That is enough to support 250,000 jobs. Taking that money out of Florida has the opposite effect.
This rip-off has been going on since 2003, so there is no doubt that just this one example of corporate welfare and corruption has cost Florida at least 500,000 jobs. We can get 500,000 more jobs within four years just by keeping the $5 billion per year in play in Florida's economy.
Further, if only 25% of that money circulating in Florida generates 6% sales tax that would bring in $375,000,000 per year for the state. So, 11 years of this one corrupt law has cost the state of Florida some $4 billion in sales tax revenue alone, so far.
If you want to pay more for drugs until you starve to death, elect a Democrat or Republican for governor. Both parties work for the pharmaceutical cartels. Has Rick Scott or Charlie Crist ever uttered a word about this issue? Has any candidate for Congress? Republicans and Democrats working for pharma cartel handouts created this despicable situation. How can we expect them to fix it?
As an independent governor, it will be my pleasure to serve the biggest special interest group of all--19.5 million Floridians and growing! The drug cartels have been sucking our blood long enough.
Farid Khavari, Ph.D., economist is an Independent candidate for Florida governor 2014. www.khavariforgovernor.com
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