Research and Innovation
Innovation is a word we hear a lot these days, but what does it mean? At it's most basic, innovation means finding ways to do what we do better, or coming up with ways to do things we've only ever dreamed of.
Innovation is in our DNA, it's what built America, and it's what will keep this country growing. Great research and innovation has been the backbone the backbone of everything from the internet, to the latest developments in the treatment of cancer, to the first skyscrapers. Yet due to budget cuts we're in danger of losing a key part of what makes America great.
Innovation also demands research. Yet, Federal research and development spend as a percent of GDP has
been cut by more than half in the last thirty years (now at 0.7%).
That means less funding for University departments to reach new medical break throughs. Less money to support small businesses and young entrepreneurs. And less money to put the thinking and research into discovery of solutions to tackle our social, environmental and infrastructure challenges.
But investing in innovation means more than those just products or solutions, it creates jobs. Most new jobs in the US are created in start-ups and small businesses. And that's just the start, with the right checks in place working on exploiting our natural gas reserves will support more than 600,000 jobs by the end of the decade, as well as securing our future energy supplies.
The choice facing the US is to start to get serious about investing in research and innovation, or risk falling seriously behind. Without investment in innovation and research other countries stand to win the race to the future.
The billions generated by the Robin Hood Tax could help make sure America remains a world leader.
By raising hundreds of billions of dollars every year, the Robin Hood Tax could assist in funding key government efforts in supporting research in health, food safety, medical and infrastructure innovation. This money could support the kind of world leading research and innovation that led to the building of the Hoover Dam and the first space station; it could create new American jobs and new American industries.
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