Republican New Media Caucus Gets it Right

Mashable reports that Congressmen from the Congressional House Republican New Media Caucus have met with various technology companies including Facebook, Apple and Google. During a roundtable discussion, Congressman John Culberson of Texas said:

“…all these companies thrive or created and became successful because they were free to develop on their own. None of them started out of a government program, none of them grew out of a government stimulus…all began out of the hard work, sweat equity, and creative genius of their founders, their employees and are growing as fast as they can. And we, as fiscal conservatives, share their commitment to cut their taxes, free them from unnecessary regulation and litigation, and to do everything we can do get the Federal Government out of the way, out of their pocket, and off their back.”

The Congressmen get this right: if they want effective, innovative technology companies to continue to succeed they should lower taxes on them and ensure that the Government gets out of their way and allows the market to choose winners and losers. Without any sort of Government funding that supports ineffective businesses, the good companies will succeed while the ineffective ones will not. When the Government does not allow the invisible hand, which encourages innovation, to work unabated, it is the consumers who lose. It is good to see the Caucus taking this hands-off approach to technology companies.