Real Gross Private Domestic Investment FRED St Louis Fed

The past year has seen one-fifth of the jump in investment that the boosters of the Trump tax cut were claiming would happen back in last 2017. One fifth. And I haven't seen a peep from anyone even expressing curiosity on why their miss was so great: Tyler Cowen (November 2017): Yes, a Corporate Tax Cut Would Increase Investment: "A common criticism of the current Republican tax plans is that they will not boost private investment. While I have major reservations about these plans as a whole, this particular objection is oversold. The most likely result is that lower corporate tax rates will lead to more investment projects and thus more aggregate economic activity.... When companies have more 'free cash' at hand, they tend to invest more.... The... 'giveaway' to business... is precisely the mechanism that tends to boost investment...