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The US Drops Out of the Top 10 In Innovation Ranking (bloomberg.com)
An anonymous reader quotes a report from Bloomberg: The U.S. dropped out of the top 10 in the 2018 Bloomberg Innovation Index for the first time in the six years the gauge has been compiled. South Korea and Sweden retained their No. 1 and No. 2 rankings. The index scores countries using seven criteria, including research and development spending and concentration of high-tech public companies. The U.S. fell to 11th place from ninth mainly because of an eight-spot slump in the post-secondary, or tertiary, education-efficiency category, which includes the share of new science and engineering graduates in the labor force. Value-added manufacturing also declined. Improvement in the productivity score couldn't make up for the lost ground.
South Korea remained the global-innovation gold medalist for the fifth consecutive year. China moved up two spots to 19th, buoyed by its high proportion of new science and engineering graduates in the labor force and increasing number of patents by innovators such as Huawei Technologies Co. Japan, one of three Asian nations in the top 10, rose one slot to No. 6. France moved up to ninth from 11th, joining five other European economies in the top tier. Israel rounded out this group and was the only country to beat South Korea in the R&D category. South Africa and Iran moved back into the top 50; the last time both were included was 2014. Turkey was one of the biggest gainers, jumping four spots to 33rd because of improvements in tertiary efficiency, productivity and two other categories. The biggest losers were New Zealand and Ukraine, which each dropped four places. The productivity measure influenced New Zealand's shift, while Ukraine was hurt by a lower tertiary-efficiency ranking.
South Korea remained the global-innovation gold medalist for the fifth consecutive year. China moved up two spots to 19th, buoyed by its high proportion of new science and engineering graduates in the labor force and increasing number of patents by innovators such as Huawei Technologies Co. Japan, one of three Asian nations in the top 10, rose one slot to No. 6. France moved up to ninth from 11th, joining five other European economies in the top tier. Israel rounded out this group and was the only country to beat South Korea in the R&D category. South Africa and Iran moved back into the top 50; the last time both were included was 2014. Turkey was one of the biggest gainers, jumping four spots to 33rd because of improvements in tertiary efficiency, productivity and two other categories. The biggest losers were New Zealand and Ukraine, which each dropped four places. The productivity measure influenced New Zealand's shift, while Ukraine was hurt by a lower tertiary-efficiency ranking.
First of all, ewww. Also, are you saying Jews aren't white? Also, ewww.
Aside from being racist, this comment is also factually wrong. Space travel (commercial or otherwise), the Internet and the iPhone had nothing particular to do with Jews. Lary Page isn't Jewish, so attributing Google to "Jews" is also somewhat strange.
Many Americans innovated. Some of them were Jewish.
Spending on education is up.
Non-defense R&D spending is up.
Corporations spend roughly twice as much money on R&D as the government.
The last major tax cut was 15 years ago. The drop in tax revenue in the last decade was due to the recession following the collapse of the housing bubble. Currently, tax revenue is back up to "normal" levels (if you define the highest it's ever been historically as "normal").
What's busting the budget is a refusal to cut spending to match revenue (notice the trendline for tax receipts is flat, while the trendline for spending is climbing). This is primarily driven by growth of entitlement programs. The CBO has been warning us about that since at least 1998 (when I started reading the CBO reports).
And before you claim we should balance the budget by paying more taxes, consider that the tax burden in the U.S. is already among the highest in the world. People claiming U.S. taxes are low usually only look at Federal taxes, and fail to account for state and local taxes. U.S. tax burden is the third highest of the 20 largest economies in the world (only France and Italy have a higher tax burden). That's right, Americans pay more taxes (as percent of GDP) than socialist countries like Canada, the UK, Germany.
Summary even states that the main reason the U.S. dropped was because of low percentage of STEM college graduates.