Biden’s War with Prices
In his State of the Union Address on March 1, the president repeatedly used the word “price” and its synonym “cost.” What’s clear from his SOTU speech is that President Biden doesn’t really understand prices and pricing, for he said, “let’s cap the cost of insulin at $35.”
Let’s not, okay. Biden claimed: “Insulin costs about $10 a vial to make.” If politicians feel the irresistible urge to dictate what the price of insulin will be, then why allow the pharmaceutical companies a 350 percent markup, why not set the price at $11 a vial, allowing them to make a reasonable 10 percent profit?
