66 Percent Say Technological Innovation Depends Primarily on Private Not Public Investment

c3fdprivateinvesta 600x400 66 Percent Say Technological Innovation Depends Primarily on Private Not Public Investment

According to the
recent Reason-Rupe
pollAmericans believe private not public investment primarily
drives technological innovation. This does not mean Americans
ignore public investment’s role, but that the economy’s
technological engine is primarily fueled by risks and investments
made by the private sector. Republicans are far more likely to say
private investment primarily powers the economic 83 to 10 percent,
as do Independents 72 to 21 percent. Only a slim majority of
Democrats agree, with 51 percent versus 39 percent who think public
investment is most important for technological innovation.Among Americans who believe public sector investment is most
important for innovation, 77 percent approve of President Obama and
18 percent disapprove. Fifty-seven percent of these respondents
also “strongly support” increasing taxes on the wealthy to balance
the budget. In contrast, those who say private investment is most
important, 54 percent disapprove of the president while 41 percent
approve, and 32 percent “strongly support” increasing tax rates on
the wealthy.Middle age is correlated with greater belief in private
investment. For instance, 56 percent of 18-24 year olds and 63
percent of Americans over 65 compared to 71 percent of 35-54 year
olds. Majorities of Caucasian (73 percent) respondents as well as a
slight majority of Latinos (52 percent) believe private investment
is most important; in contrast 53 percent of African-Americans
think government investment is most important.Although households connect private investment with innovation,
the connection is less clear betweentax structure and
investment, and thus taxes and innovation. The Reason-Rupe
poll asked Americans whether raising taxes on wealthy
households makes a significant difference in reducing the money
available for investing in business start-ups, only 35 percent
thought there was a connection. Likewise, only 26 percent thought
raising taxes on high earners reduces the amount they work and
invest. Consequently, it is less surprising that 73 percent thought
raising taxes on wealthy households would have no significant
impact on innovation. Read more about these results here.Nationwide telephone poll conducted January 17th-21st 2013
interviewed 1000 adults on both mobile (500) and landline (500)
phones, with a margin of error +/- 3.8%. Columns may not add up to
100% due to rounding. Full methodology can be
found here. Full
poll results found here.

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66 Percent Say Technological Innovation Depends Primarily on Private Not Public Investment

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