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Quite a bit of the money goes directly back to, you guessed it, Johnson & Johnson!
Keywords: talc, settlement, august, 2017, lawsuit, baby powder, cancer
Date Created/Edited: August 22, 2017
Johnson & Johnson lost another talc lawsuit. This time the 'penalty' was $417 million. The total for the top few publicized victim wins is around $450 million. This doesn't include all the costs for court, paperwork, defense lawyers, etc. The REAL total is likely at least twice that, closer to a billion dumped on the public healthcare bill.
Currently, stated in their second quarter 10-Q, Johnson & Johnson faces over 4,800 baby powder lawsuits. Obviously, that number is expected to rise exponentially as victims from around the world file lawsuits to hold an inanimate corporation accountable for their injuries. Not one of the callous psychotic criminals reponsible for their suffering will lose their job or face criminal charges. Not one of those in the United States government who continue to do nothing to stop Johnson & Johnson from harming human beings around the world will face criminal negligence charges or even lose their position in the decision-making process.
I agree that $417 million is a whole lot of money. But where does that money really go? Granted, some of it goes to the victim and her family. However, most of it gets stuffed into lawyer pockets and goes right back to Johnson & Johnson ;o)
The $417 million settlement is broken down into compensatory and punitive settlements.
$68 million compensatory covers medical bills past and future. Most of this money will basically be sent back to Johnson & Johnson for products (such as surgical tools, cancer drugs, painkillers, antibiotics and a shitload of bandages) required to treat the ovarian cancer their talc-based product caused.
$340 million punitive covers lost wages, lost health, etc. This portion is taxed as regular income. Of this, 30% or more gets sucked up by lawyers (who will likely invest it in Johnson & Johnson stock since, obviously, there are plenty more victims for guaranteed return on their investment ;o)).
Approximately $150 million will go to taxes, Social Security and Medicare/Obamacare. This leaves around $90 million to the victim, who is going to die relatively soon. After she dies whatever is left will get taxed at the higher inheritance tax rate when passed on to her family.
$417 million. Most of the money going directly to the people who harmed her and those who are supposed to yet did NOTHING to prevent her injuries. It's not much of a wonder why talc products remain on the market: GUARANTEED future cash cows. How is this JUSTICE or teaching anyone a lesson?
People wonder WHY healthcare is so expensive with fewer and fewer services and higher and higher deductables and monthly payments? They increase prices and reduce services to cover the costs of the rising global flood of incoming victims from a massively corrupt healthcare system and dump the costs on AMERICAN taxpayers ;o)
[[ List of Talc-related articles here ]]
1. SEC (2017, August). Johnson & Johnson 2017 Second 1/4 10-Q. Securities Exchange Commission. Retrieved from https://www.sec.gov/Archives/edgar/data/200406/000020040617000042/a2q10q07-02x17.htm
2. Emily Patterson (Frequently updated). List of files regarding Johnson & Johnson Chief Financial Officer, Dominic Caruso. Johnson And Toxin. Retrieved from http://www.johnsonandtoxin.com/caruso.shtml
3. Emily Patterson (Frequently updated). List of files regarding Johnson & Johnson Chief Executive Officer, Alex Gorsky. Johnson And Toxin. Retrieved from http://www.johnsonandtoxin.com/gorsky.shtml
4. REGISTRATION (2017, January). Registration for OBLIVIOUS, S.Tucker Johnson's ship. BoatDirectory.com. Retrieved from https://boatdb.net/boat/oblivious-550000.htm
5. Emily Patterson (2015, October 22). How Johnson & Johnson is Screwing Their Institutional Shareholders. Johnson And Toxin. Retrieved from http://www.johnsonandtoxin.com/jnj_screwing_shareholders.shtml