World. And the evidence is that these patent Innovation Box policies are not very good at that because what theyre targeting is the income generated from the patents rather than the research that leads to them. This is true of lots of r d tax credits. In holland they just designed one which is quite intelligent, i think, because it targets the research that leads to the r d. So the labor hired rather than the income generated from that r d. But i think we should remember that, for example, the act which in 1980 allowed publicly funded research to be patented. If you read that act, its really interesting. They also say we better make sure that the taxpayer doesnt pay twice, right . So just like year, i think the nih spent arounded 39 billion in research, both basic and applied. And the problem is what happens to the prices of these drugs . Do they reflect that input . So its not only and ive been reading a lot about this, but the pricing mechanism itself could be one way to be rewarded
Now that is 10 trillion. So there are not many places you can say i can take 10 trillion out of the spending stream to keep you healthier. Let me follow up on this now speaker gingrich. You are a conservative and as a result may have credibility than i do in some circumstances on the question on the role of government here. Why isnt it enough to count on private industry to do this . Why do we have to have a substantial investment from the federal government . Its a question about American History. [ inaudible ] and i are developing a project on why George Washington matters. And people dont often notice that the Founding Fathers wrote into the constitute a Patent Office because they so deeply believed in the future. They made investments. The First Federal highway was built during washingtons lifetime. They believed in improving things. They talked about them as improvements. Jefferson launched an expedition to the west and there was a Childrens Book on this called from sea to shining
After the september 11th attacks, and initially he was involved with u. S. Efforts at the u. N. Security council to freeze and block assets linked to alqaeda. But after the invasion of ric in 2003 of iraq in 2003, he ended up in baghdad among the First American diplomats sent to the iraqi capital. And then he went on to spend seven years in either iraq or afghanistan advising u. S. Forces and working with local authorities and others. Kaels service, for which he received the secretary of states medal for heroism, was uncommon not only for the amount of time he was posted in iraq or afghanistan, but also for the range of his contacts and the depth of his involvement with american troops and local civilians. His new book, the mirror test, recounts his personal journey, and it also provides a closeup, gritty, emotional portrait of the, of the wars that america has been engaged in now for well over a decade. Kaels very critical of americas failures in both conflicts and makes a point of hi
364. Four dollars in california. As we digest all of that disappointing news, cheer up, everybody. We have a new instant billionaire. 400 million from the banks. Varney company is about to begin. Stuart we know that both sewall has fallen. We just got the news that cribbs has also fallen. What is your reaction to this. Great job obama. Great job, dude. It is flat out chaos. Taking control of two of the countrys biggest cities. Now moving south. They are approaching. President obama has reportedly denied the request. He says he is confident that forces will regain control. Citizens of that city are leading in droves. Half a Million People have fled. Now the market reaction. The price of oil spiking. We are now at 105. 87. Iraq exports 3 Million Barrels a day. That price, what you are looking at, goes up. Dan Dan Henninger from the wall street journal is here today. Is it as serious as what happened in crimea . The price of oil is going up. They have taken the city. Even the turks have t