Didn't high top marginal tax rates in the 1960s-1970s era give a lot of corporations an incentive to put profits back into R & D as it would avoid high taxation

Didn't high top marginal tax rates in the 1960s-1970s era give a lot of corporations an incentive to put profits back into R & D as it would avoid high taxation on those profits (and I think the R & D outlay was a tax writeoff, too). E.g. https://slate.com/business/2012/07/xerox-parc-and-bell-labs-brought-to-you-by-high-taxes.html https://slate.com/business/2012/07/xerox-parc-and-bell-labs-...