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We already pay dearly for energy, medicine, banking, and telecommunications services. But a little research reveals that we're paying more -- much more -- in a variety of ways that our business-friendly mainstream media won't talk about.
1. Drug Companies: The Body Snatchers
A report by
Battelle Memorial Institute determined that the $4 billion government-funded
Human Genome Project (HGP) will generate economic activity of about $140 for every dollar spent. Although that estimate is
controversial, drug industry executives
say it's just a matter of time before the profits roll in.
Big business is quickly making its move. Celera Genomics was first, as the company initiated a private version of the genome project,
incorporating the public data into their work, but forbidding the public effort to use Celera data. Abbott Labs is developing
products based on the HGP.
Merck's automated biotechnology facility was made possible by the HGP. Two-thirds of the products at
Bristol-Myers Squibb have been impacted by the HGP.
Pfizer is starting to make big profits from its genome-based cancer treatments.
But the industry is going beyond profits, to the actual privatization of our bodies. One-fifth of the
human genome is privately owned through patents. Strains of influenza and hepatitis have been
claimed by corporate and university labs, preventing researchers from using the patented life forms to perform cancer research.
As if to mock us while taking over our public research, some of the largest drug companies haven't been paying much in taxes.
Pfizer had 40% of its 2011-12 revenues in the U.S., but declared almost $7 billion in U.S.
losses to go along with $31 billion in foreign profits.
Abbott Labs had 42% of its sales in the U.S., but declared a
loss in the U.S. along with $12 billion in foreign profits.
Comment: The fast-food industry and stores like Walmart pay their employees so little that many of them must rely on public assistance because these companies are not paying a living wage. Recently donation boxes were installed in Walmart stores for employees because they earn so little, they cannot even afford to buy food and necessities from Walmart!
Fast-food workers protest for living wages in NYC
Walmart sales dropping thanks to low Walmart wages
Ohio Walmart held an employee food drive...for less fortunate employees