Friday, March 8, 2019
Alexandria Ocasio-Cortez and the Myth of American Innovation
Alexandria Ocasio-Cortez and the Myth of American Innovation: The intrepid New Yorker pulls back the curtain on how private companies profit from taxpayer-funded research.
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The "progressives," like Mazzucato, seem to believe that dollars grow on billionaires. Where do taxpayers get the dollars to pay those taxes if government doesn't spend them first?
No need to raise taxes to pay for programs. The creator of money (the federal government) doesn't need tax revenue to provision its programs. Taxes just make the money valuable.
That said, the technological examples of "picking winners" (something the political right abhors) are all over the place. Those who get the benefit of this research--and government-funded research is responsible for 75% of pharmaceutical innovation--somehow merit the profits, while the rest of the population does not. That's the problem.
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