Should we have corporate welfare reform like we did for people?

You have highlighted an essential task if the American economy is to survive in the long-term. Let's be blunt about it - in economic terms, corporate globalism is nothing other than communism. It is a (relatively) small collection of people working the economy to their own benefit and to the extreme detriment of everyone else. Those at the top only let in those who are of a like mind and brown-nosed enough to want to get there. It has nothing to do with merit or innovation.