You're absolutely right, Socialism is NOT the fix! The big problem here is that socialism is a theoretical form of government, or "political system of communal ownership in which the means of production and distribution are controlled by the people, and operated according to equity and fairness rather than market principles." -Encarta World Dictionary We are a capitalist democracy, nothing and no-one will change that.
We've been discussing socialized medicine, or nationalized healthcare if that sounds better. We already have it in Medicare and Medicaid. Congress has their own special, bang-up type!
Nobody hoots or hollers over having 'socialized' police and fire protection, do they? The fire chief doesn't show up when your house is on fire and ask " Will this be Visa or Mastercharge?" The police don't verify your income and turn you down because "Unless you can pay us in cash up front we just can't check out that prowler."
Rebelcowboy, I commend you on your 13 years of volunteering in emergency response. That shows real dedication! Volunteers are truly needed to serve in many areas that wouldn't have any coverage otherwise. Just this morning we heard on the radio that in our own county, a womans son fell off of his horse and was severely injured. When she called a nearby town for an ambulance, she was told ther were none available. She pressed them, "Until when?" The response was "No ambulances available to the western half of the county." Apparently she was an EMT with some volunteer fire dept. so she called a Life Flight chopper in herself! The radio said she knew how to prepare the scene for them, etc.
As I have said, I surely don't claim to have the answers, but I think the way this system works stinks! Why should a millionaire get better medical care than an elderly grandmother on Social Security? Do we assign value to a person by their humanity or their wealth? Is one just as much a person as the other? There's nothing wrong with money, but without our humanity, we're nothing more than pigs in the mud.
Oh, and about Pfizer. According to Fortune 500, just so far this year they have made a profit of over 10 BILLION DOLLARS ! That's up 21.2% over 2010, and the year isn't even over yet. Some research showed that Pfizer made $180 billion on just 4 drugs, but settled fraud charges with the Dept. of Justice over them for $2.3 billion. Still a tidy profit for something that they were pushing fraudulantly!
So obviously, this is a complex issue, and we won't settle it here. It is good to discuss various viewpoints. For myself, I will not lose sleep over whether Big Pharma makes another billion or not. I do lose sleep worrying about those that some call "the less fortunate" among us. I was brought up to care for the poor and downtrodden. There seems to be more and more rhetoric these days to make them a little 'less than human'. History has taught us the dangers of thinking like that, I hope.
~S
So how much do you think that Pfizer should make ?
The owners have $193 billion invested. There's also the chance they could lose money. They're getting a return of 88cents for an over $25 investment. And who owns Pfizer ?
Major Direct Holders (Forms 3 & 4)
Holder
Shares
Reported
1,265,131
Jan 31, 2011
READ IAN C 878,697
Feb 24, 2012
DAMELIO FRANK A 525,205
Feb 24, 2012
RICCIARDI NATALE S 394,778
Feb 28, 2011
DOLSTEN MIKAEL 263,633
Feb 23, 2012
Top Institutional Holders
Holder
Shares
% Out
Value*
Reported
VANGUARD GROUP, INC. (THE)
320,508,705
4.29
7,371,700,215
Jun 30, 2012
WELLINGTON MANAGEMENT COMPANY, LLP
183,583,645
2.46
4,222,423,835
Jun 30, 2012
Bank of New York Mellon Corporation
144,199,592
1.93
3,316,590,616
Jun 30, 2012
FMR LLC
134,344,048
1.80
3,089,913,104
Jun 30, 2012
PRICE (T.ROWE) ASSOCIATES INC
129,514,936
1.73
2,978,843,528
Jun 30, 2012
FRANKLIN RESOURCES, INC
128,195,412
1.72
2,948,494,476
Jun 30, 2012
JP MORGAN CHASE & COMPANY
111,069,716
1.49
2,554,603,468
Jun 30, 2012
NORTHERN TRUST CORPORATION
101,761,713
1.36
2,340,519,399
Jun 30, 2012
Capital World Investors
83,851,000
1.12
1,928,573,000
Jun 30, 2012
STATE FARM MUTUAL AUTOMOBILE INSURANCE CO
79,999,525
1.07
1,839,989,075
Jun 30, 2012
Top Mutual Fund Holders
Holder
Shares
% Out
Value*
Reported
VANGUARD TOTAL STOCK MARKET INDEX FUND
93,988,698
1.26
2,128,844,009
Mar 31, 2012
VANGUARD 500 INDEX FUND
67,345,959
0.90
1,525,385,971
Mar 31, 2012
VANGUARD INSTITUTIONAL INDEX FUND-INSTITUTIONAL INDEX FD
65,380,495
0.88
1,480,868,211
Mar 31, 2012
SPDR S&P 500 ETF Trust
61,690,630
0.83
1,349,174,078
May 31, 2012
VANGUARD/WINDSOR II
51,692,168
0.69
1,183,750,647
Apr 30, 2012
COLLEGE RETIREMENT EQUITIES FUND-STOCK ACCOUNT
47,763,937
0.64
1,081,853,173
Mar 31, 2012
VANGUARD/WELLINGTON FUND INC.
46,134,241
0.62
974,816,512
Feb 29, 2012
DODGE & COX STOCK FUND
43,362,464
0.58
997,336,672
Jun 30, 2012
VANGUARD SPECIALIZED-HEALTH CARE FUND
38,083,888
0.51
872,121,035
Apr 30, 2012
GMO Quality Fund
35,549,848
0.48
777,475,175
May 31, 2012
The government justice dept. is full of lawyers and lawyers file lawsuits. Not just ones they can win but ones that they can get someone to settle because it will cost more to fight then to pay a settlement.
So how much should they be making ?