Thursday, May 24, 2012

Thom Hartmann: Big Pharma is The Biggest Tax Dodger in America

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The pharmaceutical industry is the single biggest defrauder of Americans taxpayers in the country - surpassing the Defense Industry for the first time. A new Public Citizen report finds that over the last twenty years the pharmaceutical industry has accounted for 25% of all violations of state and federal law when it comes to the False Claims Act.
Among the infractions include illegally promoting drugs for purposes not approved by the FDA - which is a criminal offense since it can lead to patients suffering serious illnesses - and even death. Also the pharmaceutical industry routinely overcharged federal programs like Medicaid for their prescription drugs - bilking taxpayers out of billions of dollars. Since 1991 - over 165 pharmaceutical settlements with state and federal governments has led to $19.8 billion in penalties.
According to Taxpayers Against Fraud - pharmaceutical companies are expected to pay out another $9 billion in fraud settlements this year. This is the consequence of a for-profit health care system in America - drug companies who are supposed to be manufacturing products to help us live longer and be healthier - are ACTUALLY more focused on screwing us than our well-being. It's time to join the rest of the developed world - create a non-profit healthcare system - and kick the money-changers out of our hospitals.
(Have you been screwed by big Pharma? Tell us here.)

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