Our government spends an enormous portion of our funds on the defense budget in order to wage wars in various countries around the world, support our illogically enormous military, and continue expanding our military industrial complex that puts money into the pocket of the ultra, ultra wealthy only. We should be taking an enormous portion of that money and investing it in science to improve society for decades to come.
I am not a big fan of subsidies, so I do think the biotechnology industry should be subsidized by the government. Biotechnology is used in agriculture, food production, and medicine and it may be reasonable for the government to fund research in these areas, but to say that they should get involved to the level proposed, I disagree.
Government shouldn't have to control every aspect of technology that we can use. If they get their hands on it you know what happens to it. The price goes high, then we are taxed to death on it because then they have to pay exorberent salaries to the people running that part of the government also.
I do not think that the government should subsidize the biotechnology industry. They already have a huge deficit and command very high tax rates. If anything, the government needs to be cutting spending and lowering taxes. The biotechnology industry should be privatized so that the demand of the people would control the industry.