Well, that was painful to admit, but I was listening to the radio last week and heard Economics Professor Marianna Mazzucato talking about how we need
to shift back to a mutualistic cooperation between the government sector and private sector spending.
Post WW2 there was a massive boom in technology as the government funded tons of programs that led to innovations like:
GPS(DOD funded in the 70's)
Internet(DOD, started in the 60's as ARPANET)
Infant Formula(NASA, 1960's)
Google's Algorithm(National Science Foundation, 1970's)
The Bar Code(National Science Foundation, 1970's
Plus more here:
The point here is that government(we tax payers) funded the biggest risk for some of our greatest inventions, and great private sector people took
those ideas and created industries that employed 10's of thousands of people and generated unbelievable wealth for the majority of people.
Then somewhere around 1980 things changed. Back when these inventions were being funded by government research grants the tax rates were much
higher....52% corporate rate. They have steadily decreased to where they are today, and research has stagnated. The rich and corporations have
changed the game to where they now can keep most of the money in their hands.
Even Warren Buffet was calling on the government to tax the rich...back in 2011
So back to the Professor,
She is proposing we get back to those 1950's style agreements, but there will be caps and such to prevent the spike in onesided economics that has
been going on for 40 years now. I gotta say, it goes against what I believed before, but she has my ear.
Another great article on how government programs generate wealth for private companies.
I think I have changed my mind on Trumps tax reduction.....for big business that is.