Today: 18.07.2018
News
Opinion
Business
Living
Metro
Tech
Sport

Last News

15:44
Today
15:42
Today
15:20
Today
15:15
Today
15:12
Today
14:44
Today
14:34
Today
14:19
Today
14:15
Today
14:15
Today
13:56
Today
13:52
Today
13:46
Today
13:38
Today
12:40
Today
12:39
Today
12:19
Today
12:15
Today
12:10
Today
11:46
Today
11:33
Today
11:19
Today
11:03
Today
10:00
Today
09:50
Today
08:58
Today
08:54
Today
08:35
Today
06:40
Today
06:28
Today

Cuomo’s ‘cancer tax’ is the wrong way to fight opioid abuse.

Policymakers across the country are looking for ways to stem the tide of opioid-related overdoses and addictions. Gov. Cuomo’s idea, taxing prescription opioids, won’t do it. My colleague, Professor Jia Goa, and I studied the real-world impacts such a tax is likely to have, and we found that, not only is the governor’s proposal unlikely...
Time: 18:13     Date: 21.03.2018
Last US News - Opinion: Cuomo’s ‘cancer tax’ is the wrong way to fight opioid abuse. NY Post 24 - US News

The first and most important question on a proposal like this is: Who will pay for the tax?

Both theory and experience teach us that the answer to this question depends on the ease with which consumers and producers can change their behavior to avoid taxation. When it comes to pain management, in many cases there simply aren’t any good alternatives to prescription opioids.

And when there are few good substitutes for a product — think gasoline or cigarettes — consumers tend to bear most of the burden of a tax, because the costs can be passed on to consumers without losing most of them.

In contrast, there are lots of options for the goods’ producers to avoid taxation — such as shifting a portion of the sales to other states, where taxes are lower. Taken together, these factors suggest that consumers — patients and insurance companies — will bear the lion’s share of the tax.

The fact that most, if not all, of the cost of the proposed opioid tax will be borne by consumers means it’s likely to have unintended consequences.

Private insurance companies are likely to respond to higher prices by increasing policy premiums and passing additional costs on to consumers in the form of higher out of pocket prescription costs.

Since insurance is designed to spread the costs of health care over a large number of people, this means New Yorkers who may never need to take prescription pain medicine would be paying for the tax through higher premiums.

In addition, because the state itself purchases so many opioid medicines through Medicaid, New York taxpayers will end up footing the bill for the higher prices — again, regardless of whether they ever come within a mile of prescription pain medicine.

In addition to making medication more expensive, the tax is poorly designed to target addiction and abuse.

I realize “opioid tax” sounds more palatable than “cancer tax” or “hospice tax.” But when you think the proposal through to how it will actually work, “cancer tax” is closer to the truth.

Additionally — and this should alarm anyone concerned about the opioid-abuse epidemic — making prescription pain medicine harder to obtain may very well push people to cheaper illegal street drugs.

These drugs are often of lower quality and increased variability in purity and potency, which increases the risk of fatal poisoning or overdose. The substitution of heroin for prescription opioids is particularly dangerous, because heroin is often laced with illegally sourced fentanyl, a powerful synthetic opiate linked to accidental overdose deaths.

The available evidence suggests extreme caution in adopting policies that may reduce the availability of prescription opioids, as any gains in public health from the reduction of prescription opioid abuse will likely be offset by a much more socially destructive rise in illegal opioid abuse and overdose deaths.

Bottom line: If you look at how the governor’s proposed tax will play out in real life, it will increase the cost of medical care in New York and, far from stemming the opioid crisis, may actually make it worse. Lewis Davis is a professor of economics at Union College.

Opinion

Last US News - Opinion: Trump wastes no time bouncing back from Russia meddling comments. NY Post 24 - US News
Trump wastes no time bouncing back from Russia meddling comments.
President Trump clearly felt the burn from the firestorm over his comments regarding Russia’s political meddling and moved...
Last US News - Opinion: Trump is incapable of seeing past his own ego. NY Post 24 - US News
Trump is incapable of seeing past his own ego.
Last week, I wrote that the best way to think about a Trump Doctrine is as nothing more than Trumpism on the international...
Last US News - Opinion: Dems are livid over Flint’s lead-laced water — but de Blasio gets a pass. NY Post 24 - US News
Dems are livid over Flint’s lead-laced water — but de Blasio gets a pass.
Michigan Gov. Rick Snyder is a Republican. Mayor de Blasio is a Democrat. Both men find themselves at the center of crises,...
Last US News - Opinion: Another sickening smear against Kavanaugh from the Left. NY Post 24 - US News
Another sickening smear against Kavanaugh from the Left.
Democrats are so desperate to torpedo Brett Kavanaugh’s appointment to the US Supreme Court that they’re resorting to...

Opinion

Last US News - Opinion: Trump wastes no time bouncing back from Russia meddling comments. NY Post 24 - US News
Trump wastes no time bouncing back from Russia meddling comments.
President Trump clearly felt the burn from the firestorm over his comments regarding Russia’s political meddling and moved...
Last US News - Opinion: Trump is incapable of seeing past his own ego. NY Post 24 - US News
Trump is incapable of seeing past his own ego.
Last week, I wrote that the best way to think about a Trump Doctrine is as nothing more than Trumpism on the international...
Last US News - Opinion: Dems are livid over Flint’s lead-laced water — but de Blasio gets a pass. NY Post 24 - US News
Dems are livid over Flint’s lead-laced water — but de Blasio gets a pass.
Michigan Gov. Rick Snyder is a Republican. Mayor de Blasio is a Democrat. Both men find themselves at the center of crises,...
Last US News - Opinion: Another sickening smear against Kavanaugh from the Left. NY Post 24 - US News
Another sickening smear against Kavanaugh from the Left.
Democrats are so desperate to torpedo Brett Kavanaugh’s appointment to the US Supreme Court that they’re resorting to...
Last US News - Opinion: The City Council’s misguided rush to trash garbage collection. NY Post 24 - US News
The City Council’s misguided rush to trash garbage collection.
There may be no Democratic or Republican way to pick up garbage, but New York City sure knows how to make it political. On...

Living

US Living News: I treated my wife to a weekend of ‘benevolent sexism’. NY Post 24 - US News
I treated my wife to a weekend of ‘benevolent sexism’.
What do women want? Benevolent sexism apparently. If the two sentences above, just made you think “FFS” – but the...
US Living News: We were told we were too black to model. NY Post 24 - US News
We were told we were too black to model.
Joia Talbott has had it with racism in the fashion industry. On Friday, the black model posted a series of videos on Instagram...
US Living News: Workplace wellness programs don’t really work: study. NY Post 24 - US News
Workplace wellness programs don’t really work: study.
Does that lunchtime aerobic workout or afternoon meditation really help you become a happier, healthier and more productive...
US Living News: The best airline in the world is consistently luxurious. NY Post 24 - US News
The best airline in the world is consistently luxurious.
Singapore Airlines has booted Qatar Airways from the number one spot in a prestigious list of the world’s best airlines...
US Living News: Your earliest memory is probably fake. NY Post 24 - US News
Your earliest memory is probably fake.
Your mind may be playing tricks on you. If you remember anything before the age of three, your brain is merely piecing together...
US Living News: Inside the gold-coated home of Italy’s feared Casamonica mafia. NY Post 24 - US News
Inside the gold-coated home of Italy’s feared Casamonica mafia.
Police photographs in Italy show the gaudy home of a member of a feared mafia crime family complete with pink marble and...
US Living News: Woman surprised with her own secret wedding at friend’s ‘vow renewal’. NY Post 24 - US News
Woman surprised with her own secret wedding at friend’s ‘vow renewal’.
A mom was left gobsmacked when she turned up to her best friend’s vow renewal – only to discover the event was...
US Living News: Americans are paying more and more in credit-card interest. NY Post 24 - US News
Americans are paying more and more in credit-card interest.
All those interest payments add up. Americans paid banks some $104 billion in credit-card interest and fees in the last year,...

Business

Last US Business News: Amazon sold 100 million products during Prime Day. NY Post 24 - US News
Amazon sold 100 million products during Prime Day.
Amazon said online shoppers purchased more than 100 million products worldwide during its Prime Day sale, despite glitches...
Last US Business News: Sinclair kills plan to divest stations in hopes of closing Tribune deal. NY Post 24 - US News
Sinclair kills plan to divest stations in hopes of closing Tribune deal.
Sinclair Broadcast Group said on Wednesday it will reverse course and not divest three stations in hopes of winning approval...
Last US Business News: Trump adviser Kudlow optimistic that boom times will continue. NY Post 24 - US News
Trump adviser Kudlow optimistic that boom times will continue.
National Economic Council director Larry Kudlow painted a rosy picture of the economy Wednesday — even as the US is embroiled...
Last US Business News: Judge nixes McDonald’s franchisee settlement. NY Post 24 - US News
Judge nixes McDonald’s franchisee settlement.
A National Labor Relations Board judge on Tuesday rejected McDonald’s proposed settlement of a major case on whether the...
Last US Business News: Morgan Stanley posts best quarterly results among big banks. NY Post 24 - US News
Morgan Stanley posts best quarterly results among big banks.
Wall Street ended its earnings week on a high note on Wednesday as Morgan Stanley reported a 38 percent surge in profit,...
Last US Business News: With Blankfein exit, Dimon sole survivor of 2008 financial crisis. NY Post 24 - US News
With Blankfein exit, Dimon sole survivor of 2008 financial crisis.
And then there was one. Following the Sept. 30 exit of Goldman Sachs’ Lloyd Blankfein, Wall Street will be down to one...
Last US Business News: Ron Burkle sues for cut of Weinstein Company sale. NY Post 24 - US News
Ron Burkle sues for cut of Weinstein Company sale.
Ron Burkle feels he got stiffed on the sale of the Weinstein Company. The investor’s Yucaipa Cos. has sued Lantern Capital,...
Last US Business News: Jeff Bezos is the world’s richest person — and it’s not even close. NY Post 24 - US News
Jeff Bezos is the world’s richest person — and it’s not even close.
The first $30 billion is the hardest. Just ask Jeff Bezos. The billionaire Amazon founder just saw his wealth climb from...

Metro

Metro News: NYPD commissioner: I used anti-terror plane because I’m busy. NY Post 24 - US News
NYPD commissioner: I used anti-terror plane because I’m busy.
Police Commissioner James O’Neill Wednesday defended his use of a federally funded anti-terror plane for transportation...
Metro News: De Blasio’s LGBT protest might keep young athletes from tournament. NY Post 24 - US News
De Blasio’s LGBT protest might keep young athletes from tournament.
Young track and field stars on Staten Island have been told they might not be able to compete in the National Junior Olympics...
Metro News: NYC settles nurses’ gender discrimination suit for $20.8M. NY Post 24 - US News
NYC settles nurses’ gender discrimination suit for $20.8M.
The City has agreed to cough up more than $20.8 million to settle a gender discrimination lawsuit filed by the New York State...
Metro News: Liquor license denied for Cardi B and 50 Cent’s favorite strip joint. NY Post 24 - US News
Liquor license denied for Cardi B and 50 Cent’s favorite strip joint.
There’s more bad news for “Love & Lust,” the favorite Brooklyn strip club of Cardi B and 50 Cent: on Tuesday night...
Metro News: Lieberman knocks Ocasio-Cortez as too far left for Democrats. NY Post 24 - US News
Lieberman knocks Ocasio-Cortez as too far left for Democrats.
Ex-Sen. Joe Lieberman is knocking progressive superstar Alexandria Ocasio-Cortez as a hard-core leftist whose election to...
Metro News: Two people bitten in possible shark attacks off Fire Island. NY Post 24 - US News
Two people bitten in possible shark attacks off Fire Island.
Two people, including a teenage boy, were bitten in a possible shark attack off of two Fire Island beaches on Wednesday,...
Metro News: New York sues Justice Department over immigration laws. NY Post 24 - US News
New York sues Justice Department over immigration laws.
The city and state filed federal lawsuits against the Justice Department Wednesday for what it called “its unlawful efforts”...
Metro News: Mom of slain Bronx teen lashes out at accused killer in court. NY Post 24 - US News
Mom of slain Bronx teen lashes out at accused killer in court.
The heartbroken mother of slain Bronx teen Lesandro “Junior” Guzman-Feliz shouted “killer” in Spanish at...

Sport

Last US Sport News: Titans star: NFL won’t stop my anthem protest. NY Post 24 - US News
Titans star: NFL won’t stop my anthem protest.
At least one NFL player is not going to be stopped by a fine. Titans defensive end Jurrell Casey, who raised his fist during...
Last US Sport News: Miss Universe subtly addresses Tim Tebow relationship. NY Post 24 - US News
Miss Universe subtly addresses Tim Tebow relationship.
Tebow confirmed his relationship with Demi-Leigh Nel-Peters earlier this week....
Last US Sport News: Another team emerges to buy out Carmelo Anthony. NY Post 24 - US News
Another team emerges to buy out Carmelo Anthony.
There’s another contender in the Carmelo Anthony buyout sweepstakes. The Thunder and Hawks are discussing a trade that...
Last US Sport News: No, this isn’t the Islanders’ new assistant coach. NY Post 24 - US News
No, this isn’t the Islanders’ new assistant coach.
The Islanders are bringing a new coach to the National Hockey League. No, the Islanders are not hiring Raiders coach and...
Last US Sport News: Why Tiger Woods will be Ryder Cup captain before Phil Mickelson. NY Post 24 - US News
Why Tiger Woods will be Ryder Cup captain before Phil Mickelson.
Talk about long-term planning. Tiger Woods and Phil Mickelson are already in place to be future US Ryder Cup team captains,...