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3) Biden's Drug Price Controls Have Backfired
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One of the truly idiotic provisions in the Inflation Reduction Act was a requirement that manufacturers rebate back to Medicare any annual price increase above the rate of inflation.
So what are drug companies doing? They’re putting the new drugs on the market at much higher prices – since the government regulates how much they can raise the prices in the future:
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Sorry, Joe, this strategy isn’t lowering drug prices. It’s raising them.
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4) Apple Pulls the Plug on Its Electric Vehicle
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We have definitely hit “peak EV” with the news that Apple is canceling a decade-long effort to build its own electric car dubbed "Titan" (one of its most ambitious projects ever). The New York Times noted: “The cancellation is a rare move by Apple, which typically doesn’t shelve such public and high-profile projects.”
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The Apple pullback is the latest round of bad news for those who want to force-feed EVs to consumers.
Despite price wars, EV sales rose by just 1.3 percent in the fourth quarter of 2023. Ford is losing $36,000 on each unit sold and just announced it will shut down one of two production shifts for its electric pickup.
Toyota, the one carmaker that has focused on hybrids along with gas cars, has seen its stock price outperform GM (which promised to do away with gas cars by 2035) by 40 percent this past year. Toyota chairman Akio Toyoda says people are “finally seeing reality.”
Despite public resistance, the Biden administration continues to pour subsidies into the EV hole. It’s both foolish and incompetent – for example, it has allocated $7.5 billion to spend on EV chargers, but not a single one was built in 2023.
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5) Dr. Phil Schools Airheads on “The View”
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This is a funny but also deeply distressing video that we hope you will watch. Dr. Phil McGraw tells the airhead women of The View that kids suffered more from lockdowns than from COVID:
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Dr Phil made the irrefutable point that we did great damage to our children by shutting down schools “during Covid for two years…Who does that? Who takes away the support system for these children?“
Host Whoopi Goldberg hit back: “They were trying to save kids’ lives.”
Several of the other airheads then proceeded to DEFEND school shutdowns. Dr. Phil calmly responded that we KNEW at the time that children were not at risk, and now an avalanche of evidence confirms that we did long-lasting damage to millions of children.
It’s troubling that four years after this catastrophic mistake, there are some leftists with microphones who STILL defend school closures. But at least it was Dr. Phil who got the big ovation from the crowd of women in the studio audience.
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6) Republicans Have a Secret Plot to “Cripple” the IRS: Make The Agents Show Up to Work
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This is a REAL HEADLINE from The Hill newspaper. But it's funnier than anything on the Babylon Bee.
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