In short: no. Profits are difficult to measure accurately, but the best method is to focus on domestic earnings outside the financial sector as a share of net value added. By that measure, the long-term trend has been in decline.
Publications: Joe Kennedy
May 5, 2020
The study should build support for efforts like the bipartisan FORWARD Act recently introduced by Sens. Chris Coons (D-DE) and Pat Roberts (R-KS).
February 19, 2020
A natural experiment in the United Kingdom found that giving a generous R&D tax credit to small and medium-sized enterprises has a significant effect on both research spending and patents, and these advantages have spilled over to technologically related firms.
February 17, 2020
Congress should double the Alternative Simplified Credit, and lawmakers should pay for the increased research incentive by eliminating the tax break on qualified dividends, which mostly goes to wealthy stockholders.
February 4, 2020
It no longer takes two people to operate a train in many circumstances—and mandating it would have broad ramifications for the industry, consumers, roads, and the environment.
November 14, 2019
Internet platforms play a positive role in helping businesses of all sizes navigate the global Internet economy—and by delivering efficiencies and increasing competition, they benefit consumers by lowering prices, leaving them with more money to spend on other goods and services.
November 6, 2019
As Joe Kennedy writes for The Hill Times, Canada's new government should abandon its recent support for a digital services tax in order to move forward with the United States-Mexico-Canada Agreement (USMCA).
October 28, 2019
Growing animus toward “Big Tech” companies and generalized opposition to technological innovation engenders support for policies that are expressly designed to inhibit it. That is deeply problematic for future progress, prosperity, and competitiveness.
October 18, 2019
ITIF filed comments responding to the Office of Science and Technology Policy’s request for information on the bioeconomy.
October 15, 2019
Antitrust law is an important tool for protecting competition and preventing abuses of market power. But the mere possession of data seldom confers lasting market power. And privacy issues, while very important, should not be an antitrust issue.