eNewMexican

Try royalties

No one likes to pay taxes. However, there is an alternative way to raise revenue for the federal government that is fair. The federal government produces intellectual property used extensively by corporations. For example, the Department of Defense-funded research at universities to develop ways to have computers “talk” to one another, which led to the development of the internet. Nowadays we live in an internet-based economy. Why not charge royalties to the corporations making billions of dollars from the internet? Los Alamos National Laboratory, funded by the Department of Energy, developed the human genome project that is now supported by the National Institutes of Health. This knowledge is used by the pharmaceutical industry to develop drugs and the medical industry to develop treatments.

Have the corporations that benefit from government intellectual property pay royalties for that property. This a fair process; those who use, pay. This would greatly lighten the income tax burden for individuals, small businesses and corporations. I have sent this proposal to both of our senators and our representative but have received no response. If more people contact them, perhaps they will pay attention.

Joseph Ginocchio Santa Fe

LOCAL & REGION

en-us

2023-12-08T08:00:00.0000000Z

2023-12-08T08:00:00.0000000Z

https://enewmexican.com/article/281822878575848

Santa Fe New Mexican