Earlier quoted context omitted.
I can’t relate at all to that sentiment. California has got to be one of the most bloated and wasteful state governments in the entire US. High taxes and nothing to show for it. The entrenched far left seems bent on destroying the middle class, driving out business, regulating everything to death and displacing merit as a selection factor. Whatever glory Cali has— tech, entertainment, farming, weather, natural beauty…
I agree, current management is pretty bad. I can easily envision a world where it is well-run and with less grift where your California ID essentially unlocks a slew of services like healthcare and university access. Like i said before, this is wishful thinking, but it’s not for lack of resources.
Governor Newsom announces California will make its own insulin
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Re: Governor Newsom announces California will make its own insulin
#72Earlier quoted context omitted.
California income tax has no carve outs for capital gains so I don’t know where you got that idea. Rich people specifically don’t like California because of the taxes (as compared to other No or low income tax states). I assume you are referring to property taxes, but undoubtedly any “dynastic” family is going to have more tax liability from income than from property value.
Rich people love California, and all the other blue states with high income tax: https://www.statista.com/statistics/294941/largest-ratio-mil...
Re: Governor Newsom announces California will make its own insulin
#73This is a pretty interesting public-private partnership proposal that Newsom seems to have been working on for a while. Budget Request Summary HCAI requests one-time $100 million General Fund, available until 2025-26, for the CalRx Biosimilar Insulin initiative. Through a contract partnership, the State would invest $50 million towards the development of low-cost biosimilar insulin products, an additional $50 million…
Re: Governor Newsom announces California will make its own insulin
#74Re: Governor Newsom announces California will make its own insulin
#75Doesn’t make a lot of sense. Generic insulin’s are already being made. Why not just buy those?
Because pharmaceutical research is hitting a wall in many areas, and companies are “catching and killing” generic manufacturers specifically to extract more revenue from long invented products. Government should absolutely play in this space. Hell, one of the primary anti-fungal creams (NYStatin) was developed by a female researcher and state employee in the 1960s.
Re: Governor Newsom announces California will make its own insulin
#76This site seems to be provide a through price analysis of insulin nowadays https://www.goodrx.com/healthcare-access/research/how-much-d...
>> October 12, 2020 - Insulin prices are more than eight times higher in the US than in 32 comparable, high-income nations combined, according to a new RAND Corporation study.
>> In 2018, the average insulin prices in the US was $98.70, compared to $6.94 in Australia, $12.00 in Canada, and $7.52 in the UK.
US Compared to Similar Nations: https://pharmanewsintel.com/news/insulin-prices-8x-higher-in...
Re: Governor Newsom announces California will make its own insulin
#77Earlier quoted context omitted.
I don’t think that’a entirely fair. California is the product of good governance during the 1950s-1980s. There is public infrastructure, like good schools and universities, that needs to be laid to attract industry in the first place. California probably wouldn’t the what it is without the UC system, for example. Of course that was a very different California.
California schools system is not good.
Re: Governor Newsom announces California will make its own insulin
#78Earlier quoted context omitted.
California? The state with the highest poverty rate in the nation?
California has a high poverty rate as measured by local cost of living (but very low using the standard federal methodology) 8j no small part because federal funding formulas funnel money out of California because of its aggregate economic success, limiting it's ability to effect distribution.
Re: Governor Newsom announces California will make its own insulin
#79Re: Governor Newsom announces California will make its own insulin
#80interesting contrast vs the us congress, which is trying a price cap as with every build-vs-buy problem, you don't know if you'll actually be able to do it until you do it. I'm wondering what a state government has ever done that is as complex as manufacturing a medicine -- maybe road building / big water projects? if they succeed it would be a new chapter in state capacity + really exciting, especially if they are t…
> … and show that they're not warping the market Arguably the whole point of this is to warp the market by picking the winner and giving them all the business in the state. Though, chances are this will just turn into a taxpayer subsidized boondoggle like every other time the politicians pick the winner.
As long as they're not forcing people to buy their insulin then what they're doing is more akin to setting a price floor (assuming they are selling at cost rather than subsidizing a loss).
But hey if it's going to be a boondoggle then the private sector should have nothing to fear from competition here, right?