In lieu of eliminating the deduction to raise funds, the committee proposed a surtax on high-income Americans -- individuals earning at least $280,000 in adjusted gross income and couples earning more than $350,000.BNET readers know that this is a dramatic U-turn from Rangel's position in June, when he said he wanted to end tax deductions on DTC. He told Bloomberg:
One thing that's not off the table is you can pick up $37 billion knocking out the deduction for advertising.And the Democrat from New York told CQ Politics:
-- because, Rangel said, the commercials' rapid-fire "mumble" about potential side effects is "wrong."So, barring a miracle, that's that. The drug industry gets to keep one of the most controversial, least-useful aspects of its business. But then we knew that Big Pharma was playing to win didn't we?
"I go to the doctor and say, 'Did you ever think about ordering this for me?' If he says no, I don't like him, because they promised me on TV that I [would] have no problems at all," Rangel said of televised drug commercials.
He added, "Why didn't you yell loud that [the drug] . . . could kill me as a side effect?"
Image from New York Post gallery of Rangel's beach villa in the Dominican Republic.
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