Science is about discovering the nature of this world, and this might or might not be directly useful for your day-to-day life.
However, science academia plants seeds for most of the major inventions, and often it takes a long time for anybody including academia and private industry to transform it into something you can harvest.
You're using LCD?
Who first discovered the liquid crystals? Yes, it's an Austrian chemist working at an Austrian university.
Did he invent LCD panel? Hell, no, it was RCA engineer who "invented" the fundamentals of LCD some 76 years later. At about the same time, UK government-funded engineers in Royal Radar Establishment developed long-lasting material that made the commercial application of LCD practical.
You're using GPS navigation?
You know that GPS was first proposed in 1956 as a test of general relativity by an American academic? That is because of the clocks running around in the earth bound orbit would have a different "tick" length than the ones on earth.
And general relativity was of course "invented" by another academic, a guy named Albert Einstein or something, in 1915.
And GPS was not possible without the accuracy of atomic clocks, which is entirely based on quantum mechanics of atomic transition, and the first guy who thought about using is as a clock is Lord Kelvin (1879), a British academic.
Oh, you're using internet? I wouldn't talk about DARPA, but anyway.
Between you and slashdot, your message goes through some fiber connection, and in that fiber travels laser light.
Yes, Laser.
It was Einstein (1917) who "invented" the theoretical foundation of laser, which is the rate equation for spontaneous and induced radiation. But that was of course based on Max-Planck's classical radiation theory.
But of course it was Bell Lab that patented the actual implementation of Laser in 1957 (BTW, unlike many many trivial patents filed by private corporations today, this was totally non-trivial).
And speaking of fiber connection, how about optical fibers, the principle of which was first demonstrated by French and Swiss physicists?
Are you seeing a pattern here?
Can you do without these useless, budget-eating science thingie?
Do the private companies care to invest in fundamental science which might or might not directly profit them in 50 years or longer?
I thought so.