From WSJopinion: Why does the U.S. tax code penalize R&D? Ideally, manufacturing and digital technology would both grow rapidly. But one recent tax change could be making that harder, writes ahardtospell.
Wonder Land: Some 50 years ago, Congress voted to insulate itself from external discipline, creating what one critic called 'congressional government.' Today it's up to House Republicans to remedy the 'chaos.' Images: AFP/Bettman via Getty Images Composite: Mark KellySilicon Valley has been alternately deified and demonized for two decades. Cheerleaders laud it for innovation and rapid technological change.
Manufacturing, meantime, has experienced slow productivity growth since 2005. Republicans and Democrats have sought to bring manufacturing jobs and production back, with mixed results. Ideally, manufacturing and digital technology would both grow rapidly. But one recent tax change could be making that harder.
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