We at CFIF often highlight the clear and present danger that drug price control schemes pose to American…
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New Lung Cancer Breakthrough Illustrates the Potential Peril of Drug Price Controls

We at CFIF often highlight the clear and present danger that drug price control schemes pose to American consumers, who benefit from our private pharmaceutical sector that leads the world - by far - in innovation.  A new lung cancer treatment breakthrough in the form of Amgen's Lumakras illustrates that interrelationship.

Simply put, Lumakras reduced the risk of progression by 34% compared to chemotherapy in patents with advanced lung cancer, which is particularly welcome considering lung cancer's especially low survival rate (18.6% over five years, and just 5% for advanced forms).  The breakthrough required years of research and enormous amounts of investment, however, which The Wall Street Journal notes makes Lumakras the type of innovation put at risk by new drug price controls…[more]

September 22, 2022 • 05:06 PM

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Jester's Courtroom Legal tales stranger than stranger than fiction: Ridiculous and sometimes funny lawsuits plaguing our courts
Notable Quotes
 
On the Potential Over-Collection of Evidence by the FBI During Its Raid of President Donald Trump's Estate in Mar-a-Lago:
 
 

"Three passports, Privileged documents. A file on a presidential pardon. As evidence surfaces about what FBI agents seized during the raid of former President Donald Trump's estate in Mar-a-Lago, new questions about the real focus of the investigation and new avenues for legal challenges are bubbling to the surface.

"The Justice Department informed Trump's team Monday that agents gathered the former prersident's passports and are obligated to return them, and that officials are also reviewing seized materials that may be covered by various privileges, multiple sources told Just the News. ...

"Kevin Brock, who served as FBI assistant director for intelligence under former Director Robert Mueller, said the new revelations raise legitimate questions about over-collection of evidence that could lead to significant legal challenges. Trump lawyers are weighing whether to ask a federal court to name a special master to review sensitive documents and protect the president's 4th amendment, executive and attorney-client privileges."

Read the entire article here.

 
 
— John Solomon, Chief Executive Officer and Editor in Chief of Just the News
— John Solomon, Chief Executive Officer and Editor in Chief of Just the News
Posted August 16, 2022 • 08:22 AM
 
 
On President Biden's Failed Promise Not to Raise Taxes on Families Earning Less Than $400,000 Annually:
 
 

"The Democrat-led House passed a climate and healthcare spending bill on Friday without a full Congressional Budget Office score of the legislation's cost.

"The CBO confirmed to GOP lawmakers on Friday that $20 billion will be collected under the bill from those earning less than $400,000 per year through new audits, according to House GOP Whip Steve Scalise. Republicans argue that $20 billion breaks President Biden's promise not to raise taxes on households making less than $400,000 annually.

"The CBO said on Thursday it needed more time to score the full cost of the legislation."

Read the entire article here.

 
 
— Nicholas Ballasy, Senior Correspondent at Just the News
— Nicholas Ballasy, Senior Correspondent at Just the News
Posted August 15, 2022 • 07:59 AM
 
 
On the FBI's Long History of Political Meddling:
 
 

"The FBI made Dr. Martin Luther King their No. 1 political target during the civil rights era. At one point the agency even threatened to expose what they said was evidence of King's marital infidelities, and suggested the only way out was suicide.

"The American Civil Liberties Union deplored the FBI's surveillance and raids against civil rights leaders, feminists, and leftists in the 1950s and 1960s. But the ACLU is noticeably silent about the raid on Mar-a-Lago.

"In 2015, then FBI Director James Comey invoked the persecution of King to claim that the agency is different now. Comey said he kept a letter on his desk from Attorney General Robert F. Kennedy to Hoover, approving the wiretap of King's phone calls 'to ensure that we remember our mistakes and that we learn from them.' Too bad it didn't work."

Read the entire article here.

 
 
— Betsy McCaughey, Former Lieutenant Governor of New York
— Betsy McCaughey, Former Lieutenant Governor of New York
Posted August 12, 2022 • 07:54 AM
 
 
On the Decline of Real Wages:
 
 

"Welcome to President Joe Biden's White House, where numbers don't actually matter and dictionary definitions can be rewritten at the will of the president and his allies.

"Two consecutive quarters of economic contraction no longer constitute a recession, and an 8.5% increase in the consumer price index over the past year is somehow spun by Biden as 'zero inflation.'

"Yet perhaps no lie from the West Wing is as flagrant as this one -- Ron Klain claiming that wages are up.

"Unlike his boss's lengthy list of falsehoods, which we can generously attribute to senility, the White House chief of staff's lie is an apparently intentional confusion of the facts.

"Although wages rose nominally by 5.8% in July, that was more than nullified by the 8.5% increase in the consumer price index. Once both numbers are taken into account, real average hourly earnings fell by 3%. Couple that hourly wage decline with the 0.6% decrease in the average work week, and real average earnings per week fell by 3.6%."

Read the entire article here.

 
 
— Tiana Lowe, Commentary Writer for the Washington Examiner
— Tiana Lowe, Commentary Writer for the Washington Examiner
Posted August 11, 2022 • 08:09 AM
 
 
On the Warped Priorities of the Biden Administration and Congress:
 
 

"Everyone should be deeply troubled by the recent report that the Army is on pace to miss its recruiting goal by dozens of thousands of troops and by the report that followed a few days later, alleging that the Border Patrol is running short of agents in Arizona and Texas. The border is so porous these days that even mayors of sanctuary cities are starting to complain about illegal immigration.

"So, what is Congress doing about these crises? They are going to spend tens of billions of dollars to increase the number of ... IRS employees. The plan calls for spending some $80 billion to hire some 80,000 new agents and investigators. This will give the IRS the resources to double the number of people who get audited every year.

"Is this about the most warped set of national priorities you've ever heard? If this $80 billion were rerouted to the Army and the Border Patrol, we could easily stop much of the tide of illegal immigration and staff up our military so we have the soldiers we need to defend our country."

Read the entire article here.

 
 
— Stephen Moore, Co-Founder of the Committee to Unleash Prosperity and a member of President Trump's Economic Recovery Task Force
— Stephen Moore, Co-Founder of the Committee to Unleash Prosperity and a member of President Trump's Economic Recovery Task Force
Posted August 10, 2022 • 07:55 AM
 
 
Reporting on the FBI Raid on Donald Trump's Mar-a-Lago Home and the FBI's Apparent Political Double Standard:
 
 

"The official word so far that the FBI raided Donald Trump's compound at Mar-a-Lago looking for classified documents stands in sharp contrast to the way the bureau and Justice Department acted seven years ago when similar questions arose about Secretary of State Hillary Clinton's email.

"Back then in the summer of 2015, there was no raid of Mrs. Clinton's home in Chappaqua, N.Y., where the server has been operated. In fact, the former secretary of state's lawyer, David Kendall, was allowed to keep a thumb drive of the archive of her inbox -- complete with classified materials -- inside his office. ...

"The disparate handling of two cases involving famous figures led immediately to charges Monday night that the FBI was acting with a political double standard. ...

"Esteemed Harvard law professor emeritus Alan Dershowitz, a lifelong Democrat who voted for Biden but also defended Trump during impeachment, said the raid was an aberration, given that Trump wasn't even in Florida. A grand jury subpoena, he said, would have been more appropriate.

"Dershowitz said absent convincing proof that Trump was planning to destroy evidence, the Biden DOJ and FBI risked committing an abuse of power with the raid."

Read the entire article here.

 

 
 
— John Solomon, Chief Executive Officer and Editor in Chief of Just the News
— John Solomon, Chief Executive Officer and Editor in Chief of Just the News
Posted August 09, 2022 • 07:49 AM
 
 
Reporting on Senate Passage of the So-Called 'Inflation Reduction Act':
 
 

"Republicans on Sunday heaped scorn on Democrats for passing a multibillion-dollar economic package, warning that it would come back to haunt them in the November midterms.

"'Democrats will pay the price in November for raising taxes on families during a recession,' Republican National Committee (RNC) Chairwoman Ronna McDaniel said in a statement.

"Her statement reflects criticism among Republicans that the Inflation Reduction Act will do the opposite of its intended purpose.

"In a statement, Sen. Ted Cruz, R-Texas, likened the bill to a 'give-away to the Democrats' radical leftist base at the expense of middle-class Americans.' ...

"'The Schumer-Manchin bill will drive up inflation and prices, hammer small businesses and American manufacturing, increase the price of gas, and sic the IRS on Americans, all while raising taxes on Americans in nearly every tax bracket including those who make less than $400,000 a year,' Cruz said in a statement."

Read the entire article here.

 
 
— Bradford Betz, Fox News
— Bradford Betz, Fox News
Posted August 08, 2022 • 08:13 AM
 
 
Reporting On the Economic Pessimism of Small Business Owners:
 
 

"Small business confidence has hit an all-time low as the majority of Main Street expects runaway inflation and a Federal Reserve that is incapable of engineering a soft landing for the economy, leading to revenue declines and staffing cuts across sectors.

"The majority of small business owners (57%) taking part in the CNBC/SurveyMonkey Small Business Survey for Q3 2022 think the recession has already begun, while another 14% predict recession before the end of the year. ...

"The pessimism on Main Street is more widespread than in the general population, according to the survey, which included a companion poll of nearly 12,000 non-business owners. Among this group, 45% believe the U.S. economy has entered a recession."

Read the entire article here.

 
 
— Eric Rosenbaum, Senior Editor, CNBC.com
— Eric Rosenbaum, Senior Editor, CNBC.com
Posted August 05, 2022 • 07:40 AM
 
 
On the So-Called 'Inflation Reduction Act of 2022':
 
 

"During the August break, every Republican House and Senate candidate should challenge their Democratic opponents to defend the new, destructive, and unpopular Joe Manchin-Chuck Schumer bill.

Democrats hope to camouflage the bill by calling it the 'Inflation Reduction Act of 2022.' In the business world, this title would lead to a lawsuit over false advertising. ...

If Republicans aggressively communicate the details of the Manchin-Schumer bill, it will become prohibitively expensive for any Democrats to vote for it.

Scott Rasmussen highlighted the American public's opposition to this bill once it is accurately explained. In a poll this past weekend, Rasmussen discovered that 55% of Americans favor cutting government spending and taxes, while only 23% favor higher taxes and spending. Just on this overview, Republican candidates will have a more than 2:1 majority opposing higher taxes and bigger spending. And by 44% to 17%, Americans believe higher taxes and government spending will increase inflation."

Read the entire article here.

 
 
— Newt Gingrich, Former Speaker of the U.S. House of Representatives
— Newt Gingrich, Former Speaker of the U.S. House of Representatives
Posted August 04, 2022 • 08:31 AM
 
 
On the Manchin-Schumer Proposed New Tax on Private Equity:
 
 

"The new version of the Biden adminitration's 'Build Back Better' bill now backed by Joe Manchin has targeted so-called 'carried interest' for private equity firms. Although routinely portrayed in the press, and by Democrats, as a preferential tax 'loophole' to help the rich, private equity 'carry' is not a loophole and never has been.

Although Chuck Schumer is the driving force in the Senate behind the punitive proposal, the tax plan especially hurts Schumer's home state of New York and similar states. It would raise long term capital gain taxes for PE professionals who live and pay taxes in New York to as much as 55% (from the current top rate of 38%), while setting taxes for private equity professionals higher than for any other field. This push, seemingly pursued out of populist spite, would not help the economy. PE-backed companies employ 11 million people and account for 6.5% of all GNP. Targeting them with a punitive tax increase could depress investment and growth in the midst of a recession. It would further encourage the biggest taxpayers to leave Democratic Party-controlled 'blue' states, where they are most needed, and move to lower-tax Republican states.

It shows the danger of letting demagogic symbolism overrule common sense and simple fairness: In truth, there never was a special rule or 'loophole' passed for PE to unwind in the first place."

Read the entire article here.

 
 
— Steve Klinsky, Founder and CEO of New Mountain Capital and Former Chair of the American Investment Council
— Steve Klinsky, Founder and CEO of New Mountain Capital and Former Chair of the American Investment Council
Posted August 03, 2022 • 07:54 AM
 
Quiz Question   
Which one of the following U.S. Presidents signed the executive order establishing the Federal Emergency Management Agency (FEMA)?
More Questions
Notable Quote   
 
"On December 15, 2021, President Biden released an Executive Order related to global drug trade and stated, 'I find that international drug trafficking -- including the illicit production, global sale, and widespread distribution of illegal drugs; the rise of extremely potent drugs such as fentanyl and other synthetic opioids -- constitutes an unusual and extraordinary threat to the national security…[more]
 
 
—Derek Maltz, a Retired Director of the Drug Enforcement Administration's Special Operations Division
— Derek Maltz, a Retired Director of the Drug Enforcement Administration's Special Operations Division
 
Liberty Poll   

Choosing from the list below, what issue is currently most important to you heading into the mid-term elections?