culture, politics, commentary, criticism

Thursday, November 04, 2004
Bye bye money. When "more of the same" means "more pain" (
In the next four years, drug makers, health-care companies and financial-service concerns expect to benefit from Bush efforts to rein in legal costs and extend dividend and capital-gains tax cuts. Wall Street companies are looking for a flood of new investment if Mr. Bush succeeds in opening the Social Security system to privately owned accounts. Fast-food chains are less worried about a higher minimum wage and auto makers about tighter fuel-economy standards -- both areas where a Kerry administration planned to make changes.

Many industries invested heavily in the Bush campaign as much to avert a victory by Sen. John Kerry as to help ensure four more years for Mr. Bush. Health-care and drug companies contributed $26 million to Mr. Bush and the Republican Party, knowing the Massachusetts Democrat planned to have the federal government bargain directly with drug makers on Medicare prices and allow drug imports from Canada.

While Congressional Democrats will probably continue their push for such measures, Mr. Bush's victory, along with Republican gains in the House and Senate, greatly diminish the Democrats' chances. Another Kerry proposal, to change the way pharmacy-benefit managers do business, seems unlikely to go forward.

The election news pushed shares up, with the Dow Jones Industrial Average posting a gain of 101.32, or 1%. Drug, oil and defense stocks -- all anticipated beneficiaries in a second Bush term -- posted sharp gains.
In other words: Your retirement money will mysteriously vanish when CEOs like Enron's Ken Lay decide they'd rather tank the stock and invest in Aspen real estate. Your paycheck will not even remotely keep up with the cost of oil and natural gas. Your expensive-to-fuel car will pollute more. Your medicines and health care — when you can get them at all — will be dramatically more costly.

Health care and drug companies paid only $26 million to loot billions from consumers and the US Treasury. The Bush administration is truly the bargain of the millennium — if you're a big business.

Greatest Hits · Alternatives to First Command Financial Planning · First Command, last resort, Part 3 · Part 2 · Part 1 · Stealing $50K from a widow: Wells Real Estate · Leo Wells, REITs and divine wealth · Sex-crazed Red State teenagers · What I hate: a manifesto · Spawn of Darleen Druyun · All-American high school sex party · Why is Ken Lay smiling? · Poppy's Enron birthday party · The Saudi money laundry and the president's uncle · The sentence of Enron's John Forney · The holiness of Neil Bush's marriage · The Silence of Cheney: a poem · South Park Christians · Capitalist against Bush: Warren Buffett · Fastow childen vs. Enron children · Give your prescription money to your old boss · Neil Bush, hard-working matchmaker · Republicans against fetuses and pregnant women · Emboldened Ken Lay · Faith-based jails · Please die for me so I can skip your funeral · A brief illustrated history of the Republican Party · Nancy Victory · Soldiers become accountants · Beware the Merrill Lynch mob · Darleen Druyun's $5.7 billion surprise · First responder funding · Hoovering the country · First Command fifty percent load · Ken Lay and the Atkins diet · Halliburton WMD · Leave no CEO behind · August in Crawford · Elaine Pagels · Profitable slave labor at Halliburton · Tom Hanks + Mujahideen · Sharon & Neilsie Bush · One weekend a month, or eternity · Is the US pumping Iraqi oil to Kuwait? · Cheney's war · Seth Glickenhaus: Capitalist against Bush · Martha's blow job · Mark Belnick: Tyco Catholic nut · Cheney's deferred Halliburton compensation · Jeb sucks sugar cane · Poindexter & LifeLog · American Family Association panic · Riley Bechtel and the crony economy · The Book of Sharon (Bush) · The Art of Enron · Plunder convention · Waiting in Kuwait: Jay Garner · What's an Army private worth? · Barbara Bodine, Queen of Baghdad · Sneaky bastards at Halliburton · Golf course and barbecue military strategy · Enron at large · Recent astroturf · Cracker Chic 2 · No business like war business · Big Brother · Martha Stewart vs. Thomas White · Roger Kimball, disappointed Republican poetry fan · Cheney, Lay, Afghanistan · Terry Lynn Barton, crimes of burning · Feasting at the Cheney trough · Who would Jesus indict? · Return of the Carlyle Group · Duct tape is for little people · GOP and bad medicine · Sears Tower vs Mt Rushmore · Scared Christians · Crooked playing field · John O'Neill: The man who knew · Back to the top

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