This refers to the "normal" people not businesses or rich execs. Giving them for example 20 years instead of 5 doesn't change much, because 5 is already a lot. If someone does crime, because of poverty, being mentally ill, or because of addiction no jail time will be a strong enough deterrent.
If businesses actually would have fines that significantly hurt the business (and not being able to deduct it from taxes, if they were unable to pay, they would have to close down) would absolutely help and would change the calculation from fine being a cost of doing the business to a punishment for illegal behavior.
Having executives be personally responsible for decisions and go to a real jail would be even a stronger motivator.
The current problem is that there's no real deterrent.
If businesses actually would have fines that significantly hurt the business (and not being able to deduct it from taxes, if they were unable to pay, they would have to close down) would absolutely help and would change the calculation from fine being a cost of doing the business to a punishment for illegal behavior.
Having executives be personally responsible for decisions and go to a real jail would be even a stronger motivator.
The current problem is that there's no real deterrent.