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U.S. Sen. Bernie Sanders (I-Vt.) speaks during a rally protesting high prescription drug prices on September 21, 2021.
(Photo: Tom Williams/CQ-Roll Call, Inc. via Getty Images)
'This Absurdity Must End,' Sanders Says of Study Highlighting Healthcare Industry Greed
"Unfortunately, instead of working with Congress on this real issue, Trump and Musk have launched an immoral and unconstitutional attack on the Department of Health and Human Services."
Feb 12, 2025
Responding to a new study showing that leading health services companies made $2.7 trillion in profits and spent $2.6 trillion on stock buybacks and dividends in the years 2001-22, U.S. Sen. Bernie Sanders on Wednesday vowed to continue "to take on the unprecedented level of corporate greed in our healthcare system."
The study, published this week by the Journal of the American Medical Association, noted the "growing concern that a large proportion of U.S. healthcare spending appears to be directed to corporate shareholders rather than enhancing affordable access, improving quality of care, or advancing research and development."
Sanders (I-Vt.)—the ranking member of the Senate Committee on Health, Education, Labor, and Pensions—said in a statement that "it is absolutely unacceptable that since 2001, the top healthcare companies in America spent 95% of their profits, $2.6 trillion, not to make Americans healthy, but to make their CEOs and stockholders obscenely rich."
The top health care companies in America spent 95% of their profits to make their CEOs & stockholders obscenely rich. How many Americans would be alive today if those companies spent $2.6 trillion on disease prevention and primary care, instead of stock buybacks and dividends?
[image or embed]
— Senator Bernie Sanders (@sanders.senate.gov) February 12, 2025 at 11:21 AM
"The function of a rational healthcare system is to guarantee quality healthcare to all, not huge payouts for stockholders and executives in the drug and insurance industries," Sanders asserted. "None of this money was used to search for new treatments and cures, to lower prices, or to improve patient care. That has got to change."
The senator continued:
This study confirms that the greatest waste, fraud, and abuse in this country is corporate greed. Unfortunately, instead of working with Congress on this real issue, [U.S. President Donald] Trump and [Department of Government Efficiency leader Elon] Musk have launched an immoral and unconstitutional attack on the Department of Health and Human Services.
Instead of taking on the greed of the pharmaceutical industry, Trump and Musk are taking away AIDS treatment from poor people.
Instead of taking on the for-profit insurance industry, Trump and Musk are making it harder for working-class Americans to get the healthcare they need through Medicaid and community health centers.
"This absurdity must end," Sanders stressed. "As the ranking member of the Senate Health, Education, Labor, and Pensions Committee, I will do everything I can to take on the unprecedented level of corporate greed in our healthcare system."
Last month, Sanders—who twice sought the Democratic presidential nomination on a platform centering Medicare for All—unveiled a nine-point "Make America Healthy Again" plan in response to Health and Human Services secretary nominee Robert F. Kennedy Jr.'s variation on Trump's "Make America Great Again" slogan.
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This country and this world are at a monumental crossroads. US voters have an opportunity to beat back the forces of fascism and confront the billionaires who are rigging the economy, our media system, and our democracy, making it increasingly impossible for ordinary people to get by. We’re not just talking about the election. We’re talking about what must be done once these fascist elements are vanquished from power. We need a bolder set of solutions than what either major party has so far been willing to offer and a working-class movement ready to fight like hell for it. Trump didn't emerge from nowhere. The conditions that fueled MAGA authoritarianism were created by decades of radical neoliberal economic policies and a corrupt political system dominated by corporate interests. They slashed taxes on the super-rich, promising that the benefits would trickle down. They said giveaways to the corporate titans would make life more affordable for the rest of us. It was all bullshit. And when a bitter, betrayed populace searches for someone to blame, right-wing demagogues have little trouble finding scapegoats. People know when they're being lied to, but you won't hear any of this from the corporate media. Only independent journalism—powered and funded by people who believe in building a better world—can deliver truly trustworthy daily news. If you share our vision, please contribute whatever you can to sustain our work. |
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medicare for allmedicaidhealthcarehealth and human servicescommunity health centersdonald trumpbernie sanderspharmaceutical industrycorporate greedstock buybacksdepartment of health and human servicesu.s. senateelon musk
Responding to a new study showing that leading health services companies made $2.7 trillion in profits and spent $2.6 trillion on stock buybacks and dividends in the years 2001-22, U.S. Sen. Bernie Sanders on Wednesday vowed to continue "to take on the unprecedented level of corporate greed in our healthcare system."
The study, published this week by the Journal of the American Medical Association, noted the "growing concern that a large proportion of U.S. healthcare spending appears to be directed to corporate shareholders rather than enhancing affordable access, improving quality of care, or advancing research and development."
Sanders (I-Vt.)—the ranking member of the Senate Committee on Health, Education, Labor, and Pensions—said in a statement that "it is absolutely unacceptable that since 2001, the top healthcare companies in America spent 95% of their profits, $2.6 trillion, not to make Americans healthy, but to make their CEOs and stockholders obscenely rich."
The top health care companies in America spent 95% of their profits to make their CEOs & stockholders obscenely rich. How many Americans would be alive today if those companies spent $2.6 trillion on disease prevention and primary care, instead of stock buybacks and dividends?
[image or embed]
— Senator Bernie Sanders (@sanders.senate.gov) February 12, 2025 at 11:21 AM
"The function of a rational healthcare system is to guarantee quality healthcare to all, not huge payouts for stockholders and executives in the drug and insurance industries," Sanders asserted. "None of this money was used to search for new treatments and cures, to lower prices, or to improve patient care. That has got to change."
The senator continued:
This study confirms that the greatest waste, fraud, and abuse in this country is corporate greed. Unfortunately, instead of working with Congress on this real issue, [U.S. President Donald] Trump and [Department of Government Efficiency leader Elon] Musk have launched an immoral and unconstitutional attack on the Department of Health and Human Services.
Instead of taking on the greed of the pharmaceutical industry, Trump and Musk are taking away AIDS treatment from poor people.
Instead of taking on the for-profit insurance industry, Trump and Musk are making it harder for working-class Americans to get the healthcare they need through Medicaid and community health centers.
"This absurdity must end," Sanders stressed. "As the ranking member of the Senate Health, Education, Labor, and Pensions Committee, I will do everything I can to take on the unprecedented level of corporate greed in our healthcare system."
Last month, Sanders—who twice sought the Democratic presidential nomination on a platform centering Medicare for All—unveiled a nine-point "Make America Healthy Again" plan in response to Health and Human Services secretary nominee Robert F. Kennedy Jr.'s variation on Trump's "Make America Great Again" slogan.
Responding to a new study showing that leading health services companies made $2.7 trillion in profits and spent $2.6 trillion on stock buybacks and dividends in the years 2001-22, U.S. Sen. Bernie Sanders on Wednesday vowed to continue "to take on the unprecedented level of corporate greed in our healthcare system."
The study, published this week by the Journal of the American Medical Association, noted the "growing concern that a large proportion of U.S. healthcare spending appears to be directed to corporate shareholders rather than enhancing affordable access, improving quality of care, or advancing research and development."
Sanders (I-Vt.)—the ranking member of the Senate Committee on Health, Education, Labor, and Pensions—said in a statement that "it is absolutely unacceptable that since 2001, the top healthcare companies in America spent 95% of their profits, $2.6 trillion, not to make Americans healthy, but to make their CEOs and stockholders obscenely rich."
The top health care companies in America spent 95% of their profits to make their CEOs & stockholders obscenely rich. How many Americans would be alive today if those companies spent $2.6 trillion on disease prevention and primary care, instead of stock buybacks and dividends?
[image or embed]
— Senator Bernie Sanders (@sanders.senate.gov) February 12, 2025 at 11:21 AM
"The function of a rational healthcare system is to guarantee quality healthcare to all, not huge payouts for stockholders and executives in the drug and insurance industries," Sanders asserted. "None of this money was used to search for new treatments and cures, to lower prices, or to improve patient care. That has got to change."
The senator continued:
This study confirms that the greatest waste, fraud, and abuse in this country is corporate greed. Unfortunately, instead of working with Congress on this real issue, [U.S. President Donald] Trump and [Department of Government Efficiency leader Elon] Musk have launched an immoral and unconstitutional attack on the Department of Health and Human Services.
Instead of taking on the greed of the pharmaceutical industry, Trump and Musk are taking away AIDS treatment from poor people.
Instead of taking on the for-profit insurance industry, Trump and Musk are making it harder for working-class Americans to get the healthcare they need through Medicaid and community health centers.
"This absurdity must end," Sanders stressed. "As the ranking member of the Senate Health, Education, Labor, and Pensions Committee, I will do everything I can to take on the unprecedented level of corporate greed in our healthcare system."
Last month, Sanders—who twice sought the Democratic presidential nomination on a platform centering Medicare for All—unveiled a nine-point "Make America Healthy Again" plan in response to Health and Human Services secretary nominee Robert F. Kennedy Jr.'s variation on Trump's "Make America Great Again" slogan.
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