Policy – Why Cutting Taxes Won’t Make America More Innovative

As the U.S. Congress considers the tax proposal put forward by Republicans, there has been plenty of debate over how it would affect innovation. But the tax bill’s effect on innovation won’t depend solely on the provisions dedicated to universities or corporate R&D. As two recent studies remind us, the likelihood that would-be inventors live up to their potential depends on many other factors – not just their abilities, but also the environment they grow up in. The tax bill would make America even less equal, and as a result even more would-be Einsteins will fail to achieve their potential.

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