When Proposition 71 was being pushed on the voters, campaign propaganda assured Californians that the money would pour in to state coffers if they only gave scientists the constitutional right to do human cloning and embryonic stem cell research. The same tactic was deployed in Missouri in Amendment 2. Now, we find in California, that such promises were, shall we say, exaggerated. Even if it all works–a big if–the check will not be in the mail.
“The state could get between $537 million and $1.1 billion in royalty returns from it’s $3 billion stem cell investment,” the story states. Except, this wholly understates the loss. When interest is included on the loans our broke state will be taking out to give Big Biotech and its business partners in universities bounteous amounts of corporate welfare, the amount owed by taxpayers will be a whopping $6-7 billion. So, even if the CURES! CURES! CURES! come through, California loses at least %5 billion.
It’s funny isn’t it, how these studies and reports never come out before elections where they might have some real meaning. Now, with the horse out of the barn, it is just so much hot air.