An easy first step is simply raising taxes. They are ridiculously low. But further, I'm partial to the wealth tax (or a property tax). Couple that with social spending which will hyper juice the economy. The more needs we have provided, the more excess wealth can be spent on luxuries which is what encourages capitalism in flourish in the first place.

There are ancillary benefits to having a progressive and aggressive tax system. If there's one thing business owners hate, it's giving money to the government. So if they can avoid being taxed by hiring more employees or paying them a higher salary, that's exactly what they'll do. It flips the incentives around revenue and pushes businesses to invest in the business.

That was a huge driving factor of the innovations in the 60s, 70, and early 80s. We've been stagnating since mainly because the government has been slowly pulling back on taxation making it much more profitable to horde rather than invest and innovate.