Trumpcare = Tax Cuts for Rich, Insurers & Rx Drug Corporations

Big Pharma Holds Billions Offshore to Avoid U.S. Taxes Company Offshore Profits (In Billions of $) Pfizer 197 Johnson & Johnson 66 Merck 63 Gilead Sciences 38 Amgen 37 AbbVie 29 Eli Lilly 28 Bristol-Myers Squibb 26 Celgene 13 Biogen Idec 8 Total Offshore Profits $504 Billion Total U.S. Taxes Owed on Offshore Profits (estimate) $149 Billion Source: Institute on Taxation and Economic Policy

Gilead Sciences: Price Gouger, Tax Dodger $86,000 Cost to consumers of one full treatment of Gilead’s Hepatitis-C drug $1,500 Cost to Gilead to make a full Hepatitis-C treatment $13 Billion U.S. taxes Gilead owes on its offshore profits $3 Billion U.S. taxes Gilead will pay under Trump’s tax plan

Trumpcare: Tax Breaks for Insurers, Higher Premiums for Seniors $13,000 $145B TAX CUT for Health Insurance Companies PREMIUM HIKE For a low-income older American’s health insurance

Trumpcare: Tax Breaks for Insurers, Big Premium Increases for Seniors 20-25% $145B PREMIUM INCREASE For older Americans’ health insurance TAX CUT for Health Insurance Companies

Key Message Points Trumpcare is tax cuts for the rich, and health care cuts for the rest of us. Trumpcare takes health care away from 24 million to give $600 billion in tax breaks to the wealthy, and to health insurance and drug corporations. Trumpcare drops 14 million low-income kids and seniors covered by Medicaid, in order to give millionaires a $50,000 tax break each year. Trumpcare gives insurance companies a $145 billion tax break but lets them increase premiums by up to $13,000 for older Americans. Trumpcare gives a $25 billion tax break to prescription drug corporations but doesn’t lower drug costs for seniors. Trumpcare takes billions out of Medicare by eliminating a small tax paid by the richest 2 percent. This will shorten the life of Medicare by three years.