There must be a special place in hell (if you’re the kind of person who believes there is a hell) for people who use the government to rip off the elderly and disabled so they can pad their wallets.
That’s what Billy Tauzin has did by forcing a pharmaceutical bill through congress that generates billions and billions of excess profits for pharmaceutical companies by making it illegal for the government to negotiate with pharmaceutical companies for competitive pricing on drugs for Medicare patients. Excess profits? Yes. Fair profits come through negotiations. Excess profits come from bending over in front of pharmaceutical companies.
Tauzin now works as a lobbyist for the same pharmaceutical companies he helped while he was in congress, meaning he’s now being paid out of the excess profits he helped generate for the companies. Money that comes from millions of elderly American’s when they pay more than they should have to for the drugs they use every month.
However, there is plenty of blame to go around here. George W. Bush quickly signed the bill Billy Tauzin pushes, and even thanks Tauzin for the great job he did ripping off the elderly.
And don’t forget about CBS. 60 Minutes is only three and a half years behind on this story.