Innovation and Presidential elections are both about the future which has been commented on here in PolitiDose many times over the last several years. But innovation in America is a lost art and for too many years. It seems like PolitiDose is the only avenue talking about the situation since Part I was published on July 7, 2008. But now comes a commentary by Froma Harrop dated July 18, 2020 (12 years later) published in the New Orleans Advocate titled, "U.S. Innovation won't wait to return to old day."
In her commentary Froma uses the auto industry (same industry listed by PolitiDose in its Part I commentary) to make the point where innovation has been lacking. She also makes the point that America, under President Trump does not have the leadership that looks toward the future of innovation and instead wishes environmentalists (and foreigners) would disappear. She also understands that electric and not fossil fueled automobiles are the future of auto making and that is where our innovation should be.
In general, innovation driven by the auto industry in itself has been lost in America for too many years. Most of the changes have been driven by Presidential mandates such as better gas mileage and new environmental standards and by foreign competition. The industry, like other industries have been spoiled by three major tax cuts, tax breaks, greed by corporate CEO's and executives and by their stock holders. Why innovate when tax cuts protect your bottom line and your share holders are satisfied?
America needs a President who understands innovation and long term plans for the future represents the change that is needed for continued growth. That tax cuts are not innovation or the engine that drives the economy and that a successful business is one who knows why they always have to think of ways to innovate on their own.
The average American worker has played a major role in increasing American productivity, but has reaped very little financial reward for their labor. But those at the top received more than their fair share. It has been documented that in the last 43 years the largest increase in the average workers pay took place on President Clinton's watch and he raised taxes on corporations and the wealthy.
Social welfare tax cuts for those who need it the least does not attract innovation. In November the American people have an opportunity to look to the future in the Presidential election. And once again, understanding the failed past, is still the key to a better future. This writer hopes more commentary is made concerning innovation and the future of America.
Note: PolitiDose commentary of July 23, 2008 is relevant today as it was back then and is still timely. It tells the story how American business has failed its own employees and the country itself.
This commentary written by Joe Lorio
