The “Patent” Way to Balance the National Budget

Abstract

In these times, when governmental costs are mounting and to many it seems impossible to balance the national budget, all sorts of bizarre proposals are being made to raise additional revenue. They run the gamut from a national governmental lottery, through various modes of inflation, via the printing-press route and all points rightward, to excessive forms of graduated taxes, which may kill the goose that lays the golden eggs. The importance of Article I, Section 8, Clause 8, of the Constitution of the United States as an untapped source of untold revenue has been overlooked. The constitutional provision reads: “The Congress shall have power . . . to promote the progress of science and the useful arts, by securing for limited times to authors and inventors the exclusive right to their respective writings and discoveries.”