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Drugmakers are ‘throwing the kitchen sink’ to halt Medicare price negotiations

nytimes.com

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Re: Drugmakers are ‘throwing the kitchen sink’ to halt Medicare price negotiations

#21

Post by amrocha »

retrac wrote: post #12
callmeal wrote: post #7

Earlier quoted context omitted.

> Justice Thomas said (in 2001) that for the pay they receive no one would take the job if not for the gifts^H^H^H^H^H bribes. FTFY. As of 2022, the salary of a US Supreme Court Justice is $274,200 per year. The Chief Justice of the United States, who is the head of the Supreme Court, receives a slightly higher salary of $286,700 per year. Of course no one will take that job. How much does a banana cost again? $10?

How much could a good lawyer with a long and distinguished career make in the private market? That's how much we should be paying our judges. If you want the best you have to at least be moderately competitive with what's on offer. I have a similar opinion about legislators -- we probably want top tier doctors and executives and lawyers as our legislators. Being elected to office should not be a step down in their li…

I don't disagree with you, but at some point the number stops mattering. What's the difference in lifestyle between 300K and 500K? 500K and 1M?

And even if there is a difference, is that worth the opportunity cost of paying everyone else a little bit better?

It's not a very popular opinion, but there should be a maximum salary imo. Beyond a certain number money is a means of acquiring power and influence, and it feels wrong to reward people with that. Set a maximum to give people something to work harder for, but without inadvertently giving individuals the power to subvert democracy through money.

Re: Drugmakers are ‘throwing the kitchen sink’ to halt Medicare price negotiations

#22

Post by CogitoCogito »

johndhi wrote: post #20
CogitoCogito wrote: post #17

Earlier quoted context omitted.

Are the drug companies forced to provide the drugs at that price?

From what I understand the drug companies are saying 'yes.' they would have no ability to walk away from negotiations.

Sure maybe they have to say “yes” to the price, but I’m asking if they have to actually provide the drugs. Could they just decide not to sell them at that price or to just sell less?

Re: Drugmakers are ‘throwing the kitchen sink’ to halt Medicare price negotiations

#23

Post by JumpCrisscross »

amrocha wrote: post #21
retrac wrote: post #12

Earlier quoted context omitted.

How much could a good lawyer with a long and distinguished career make in the private market? That's how much we should be paying our judges. If you want the best you have to at least be moderately competitive with what's on offer. I have a similar opinion about legislators -- we probably want top tier doctors and executives and lawyers as our legislators. Being elected to office should not be a step down in their li…

I don't disagree with you, but at some point the number stops mattering. What's the difference in lifestyle between 300K and 500K? 500K and 1M? And even if there is a difference, is that worth the opportunity cost of paying everyone else a little bit better? It's not a very popular opinion, but there should be a maximum salary imo. Beyond a certain number money is a means of acquiring power and influence, and it feel…

> What's the difference in lifestyle between 300K and 500K? 500K and 1M?

Pretty massive, particularly when it comes to taking vacations and bringing friends who can’t afford them with you. $300k barely permits that domestically. $1 or 2mm lets you do that comfortably all over the world. Or, alternatively, single handedly saving restaurants you love or a buddy’s small business.

Re: Drugmakers are ‘throwing the kitchen sink’ to halt Medicare price negotiations

#24

Post by andrei_says_ »

jmclnx wrote: post #3

>Supreme Court might be sympathetic to some of the industry’s arguments No surprise here, the US Supreme Court is now just like the rest of the US Gov, they are very happy to take bribes. And due to how the US Gov is structured, no way to stop them from holding out their hand. So getting appointed to that Court is a great gig, you do not even have to care about the law these days.

“Now”? Seems like this has been going on for a very long time.

We started paying attention now.

As for the US gov and institutionalized corruption I highly recommend Lester Lessig’s work around political donations reform as the first step to democracy in the US.

We the people and the republic we must reclaim is an excellent summary of the issue and the solution: https://www.ted.com/talks/lawrence_lessig_we_the_people_and_...

Re: Drugmakers are ‘throwing the kitchen sink’ to halt Medicare price negotiations

#25

Post by Kye »

johndhi wrote: post #19
retrac wrote: post #12

Earlier quoted context omitted.

How much could a good lawyer with a long and distinguished career make in the private market? That's how much we should be paying our judges. If you want the best you have to at least be moderately competitive with what's on offer. I have a similar opinion about legislators -- we probably want top tier doctors and executives and lawyers as our legislators. Being elected to office should not be a step down in their li…

To answer your question, lawyers of the capacity of the SCOTUS justices could expect to make about 4 million a year.

What's the value of a lifetime appointment?

Re: Drugmakers are ‘throwing the kitchen sink’ to halt Medicare price negotiations

#26

Post by SoftTalker »

retrac wrote: post #12
callmeal wrote: post #7

Earlier quoted context omitted.

> Justice Thomas said (in 2001) that for the pay they receive no one would take the job if not for the gifts^H^H^H^H^H bribes. FTFY. As of 2022, the salary of a US Supreme Court Justice is $274,200 per year. The Chief Justice of the United States, who is the head of the Supreme Court, receives a slightly higher salary of $286,700 per year. Of course no one will take that job. How much does a banana cost again? $10?

How much could a good lawyer with a long and distinguished career make in the private market? That's how much we should be paying our judges. If you want the best you have to at least be moderately competitive with what's on offer. I have a similar opinion about legislators -- we probably want top tier doctors and executives and lawyers as our legislators. Being elected to office should not be a step down in their li…

It may be idealistic, but I think that those elected to office or appointed to influential positions such as judges should do so largely out of a sense of public service instead of personal enrichment. For people who are motivated by greed or power, no amount of compensation will be enough, they will always be tempted to to increase their power and wealth by taking bribes or political favors.

Pay them a respectable salary but you do not and should not try to match what the private sector pays. It not the same playing field and should not attempt to be.

Re: Drugmakers are ‘throwing the kitchen sink’ to halt Medicare price negotiations

#27

Post by [deleted] »

mc32 wrote: post #11
selectodude wrote: post #9

Earlier quoted context omitted.

Frankly it's unreasonable that a supreme court justice should be expected to only have two modest homes instead of three enormous ones.

I agree it’s unreasonable that avowed socialists should maintain multiple homes as well, but here we are. How do freshman Congress people suddenly have millions in assets to their names?

[deleted]

Re: Drugmakers are ‘throwing the kitchen sink’ to halt Medicare price negotiations

#28

Post by onlyrealcuzzo »

amrocha wrote: post #21
retrac wrote: post #12

Earlier quoted context omitted.

How much could a good lawyer with a long and distinguished career make in the private market? That's how much we should be paying our judges. If you want the best you have to at least be moderately competitive with what's on offer. I have a similar opinion about legislators -- we probably want top tier doctors and executives and lawyers as our legislators. Being elected to office should not be a step down in their li…

I don't disagree with you, but at some point the number stops mattering. What's the difference in lifestyle between 300K and 500K? 500K and 1M? And even if there is a difference, is that worth the opportunity cost of paying everyone else a little bit better? It's not a very popular opinion, but there should be a maximum salary imo. Beyond a certain number money is a means of acquiring power and influence, and it feel…

$300k - after taxes - is not buying you a lavish lifestyle of in most major cities.

It's probably not even getting you comfortably into one of the better neighborhoods, unless your partner is the bread winner.

Chicago is one of the most affordable major cities in the US - and $300k isn't gonna do more than have you comfortably living in a small condo in the better neighborhoods.

Re: Drugmakers are ‘throwing the kitchen sink’ to halt Medicare price negotiations

#29

Post by SoftTalker »

CogitoCogito wrote: post #22
johndhi wrote: post #20

Earlier quoted context omitted.

From what I understand the drug companies are saying 'yes.' they would have no ability to walk away from negotiations.

Sure maybe they have to say “yes” to the price, but I’m asking if they have to actually provide the drugs. Could they just decide not to sell them at that price or to just sell less?

Selling at an artificially low price will result in shortages. Always does. Short of nationalizing these companies, there is no way to "force" them to produce anything.

Re: Drugmakers are ‘throwing the kitchen sink’ to halt Medicare price negotiations

#30

Post by johndhi »

CogitoCogito wrote: post #22
johndhi wrote: post #20

Earlier quoted context omitted.

From what I understand the drug companies are saying 'yes.' they would have no ability to walk away from negotiations.

Sure maybe they have to say “yes” to the price, but I’m asking if they have to actually provide the drugs. Could they just decide not to sell them at that price or to just sell less?

My post was ambiguous, sorry. I am saying my understanding is the drug companies are arguing that they literally do not have the ability to not provide the drugs. So no - they cannot decide not to sell the drugs to the govt. They cannot "walk away" no matter the price the govt names.
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