Paul L. Caron

Wednesday, June 17, 2009

Funding Health Care by Taxing Cialis Ads

Bloomberg News:  House Considering $37 Billion Drug Tax, Rangel Says, by Ryan J. Donmoyer:

The House is considering imposing a $37 billion tax on drugmakers by denying deductions for prescription-drug advertising, Ways and Means Committee Chairman Charles Rangel said. As lawmakers seek ways to pay for a health-care overhaul, “one thing that’s not off the table is you can pick up $37 billion knocking out the deduction for advertising” for prescription drugs, Rangel, a New York Democrat, told reporters today in Washington.  Taxing Bad Commercials -- Now There's Tax Policy for You, by Christopher Bergin:

Now there’s tax policy at its best! Maybe we can have a marginal tax apply based on how annoying specific commercials are. ...

This is why tax policy is such fun to watch. In this case, Congress is desperate for money for healthcare reform. So, Congress puts a bull’s-eye on the drug companies because, apparently, large multinationals have become the target de jour. And I don’t have to look at that guy in the Lipitor commercials anymore.

You can’t make this stuff up.

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Tracked on Jun 18, 2009 12:02:15 PM