Is Harvard, MIT, and other powerhouse research institutions milking the system?

Harvard, MIT, and a coalition of other powerhouse research institutions have thwarted a reform proposal by the Obama administration to slash the amount of government research money each school receives for overhead costs. 

The result is that about $10 billion a year, roughly a quarter of the nation’s university research budget, will continue to be channeled into such things as administrative salaries and building depreciation instead of directly into scientific studies.

Overhead?... you're kidding me right? Here's an example of us tax payers being taken to the cleaners:

Harvard received $656 million last year in federal research funding, and about $175 million of that was overhead compensation. Harvard maintains that its rate is high because the type of research that is done there requires high-tech facilities and equipment, in addition to being located in a region with high labor and construction costs.

Read the whole story HERE.

Here's a question: When Harvard, MIT, or any of these other research institutions make a discovery, Do they share the profits that (Patents, etc) they make off it with the government (TAX PAYERS) other than through taxes of their profits?

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