Conservatives Should Be Furious About This Trump Proposal

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Trump wants to tax inventors? Not making this up, people. And it’s unfortunate, this is not getting any play. It doesn’t surprise me, but it’s not getting any play at all. And I’m gonna be honest with you. If this was proposed by the Biden administration, Obama, anybody, Hannity would be out there having a collective freak out. They all would.

Right now, and God willing, God willing, they better not do this. The Trump administration is considering a plan to raise tens of billions of dollars with a new fee that would transform the patent system.

But the Commerce Department, headed by, of course, Lutnick, are looking at charging people who have patents 1 % to 5 % of their overall patent value.

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Again, Howard Lutnick, part of his plan, part of his plan to continue taxing America. You think that this is conservative? This is the slightest bit conservative. You’re going to go after inventors? Yeah. We’ve had this thing in place for about 235 years where you apply for a patent. It’s kind of, you know,

We’ve kind of been pretty successful with it here in this country, don’t you think? The systems work pretty damn well for the past 235 years. Companies, people do research, they use patents to protect inventions, and obviously, you invent something, you want to make money off it. Patents let others in the same field because they’re public build upon this work.

Again, it’s worked pretty well here. If you don’t ask, right, we’re pretty well here in this country. Now, you own a patent. You typically pay the government a few thousand dollars. This usually goes up no higher than ten thousand dollars. These are these are flat fee payments that are made periodically. Over many years. This. This could this could be a Mormon. This is like again.

It’s like another property tax. It’s another property tax. Is this gonna be ongoing? Is it gonna be ongoing? Outside of paying your taxes, corporate taxes, all the other taxes, you’re gonna have to pay the government? Again, it doesn’t say specifically a regular fee on a regular basis based upon what your patent is worth.

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This is Brad Watts, Senior Vice President, the US Chamber of Commerce’s Global Innovation Policy Center. It’s a total paradigm shift in how you think about protecting intellectual property rights. He says, many businesses would likely have major concerns with what they perceive as a tax on innovation. No, it wouldn’t be a major concern. Listen, if I was a

If I was some European country at some point in time, I would just say, hey, you know what? We’re going to adopt the old American system. Apply for your patent here.

That’s what I would do.

And again, that 1 to 5 % of their overall patent value. Who makes that determination?

Who makes that determination of what the value of a patent is? At some point in time, a patent can be worth a hell of a lot more down the road. are they gonna, like I said, are they gonna revisit that every single year?

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Right now, officials at the Patent and Trademark Office are circulating draft proposals and financial models.

The analysts estimate that the value of all US patents at several trillion dollars. You gotta think about the amount of patents that a company like Nvidia, Samsung, Apple, that they apply for every single year.

How did in the world, how in God’s creation does this encourage innovation in this country? I mean, this would make us basically a pariah state. We already have treaties with other countries when it comes to patents. Journal report, foreign companies operating in the United States like Samsung and LG are among the largest patent holders

Here.

this, this is, I don’t know. I don’t know how, again, I know Lutnick at Cantor Fitzgerald was involved in intellectual property trade, doing all sorts of funky things. this, I don’t think it’d get any worse, quite frankly.

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Again, maybe again, this is this was their their modus operandi the whole time is just again, they they want to raise as much revenue as possible. mean, they’re already again, they’re already got the oxymoron thing out there. We’re going to give tariff rebates. What? What are you talking about? What are you talking about? You again, one dumb thing after this is this is beyond

Stupidity.

Somebody goes and invents something. This is, we made fun of Barack Obama. You didn’t build that. That was Elizabeth Warren too. You didn’t build that. So you build or create something, you come up with something on your own and now you owe the government a big attacks on your invention forever?

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Again, just listen, any of you super Trumpsters out there, come defend this. Do me a favor, defend this! Watchdog on wallstreet.com