Birdwatch Note Rating
2022-12-17 19:31:04 UTC - HELPFUL
Rated by Participant: 32F5A29D0AB69211B9C7C62C4F56638CB6835C6229A52E49F96E1A57401BBE44
Participant Details
Original Note:
President Biden is focusing on one aspect of the law to make it seem like it benefits consumers and not Pharma. This is false because while negotiation powers can be beneficial. Inside the new law is also price caps which historically harms consumers. https://www.fisherinvestments.com/en-us/insights/market-commentary/why-price-controls-dont-work https://www.chicagotribune.com/news/ct-xpm-2007-06-07-0706061080-story.html An example: https://news.yahoo.com/why-russian-oil-price-cap-000000935.html https://www.hoover.org/research/price-controls-still-bad-idea https://fee.org/articles/price-controls-and-shortages/
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