Something else to note is that in Bell Labs' postwar heyday the marginal income tax rate was extremely high. If you're a corporate executive and you know that 90% of any additional income that you pay yourself is going to go to the federal government, suddenly using the corporate account to buy yourself fun new toys instead looks like an appealing alternative. And what could be more fun than a giant wacky research lab!So instead you sit on your loot and wait for a Republican Congress to cut the tax rate.
Thursday, March 22, 2012
Yglesias makes a good point, apropos of why Apple's not using its billions to create Bell Labs 2.0:
Thus blogged Anderson ... on or about Thursday, March 22, 2012