Republican Tax Cut Still Not Spurring Capital Investment

Big businesses appear to be using their tax cut for share buybacks and mergers. So maybe it’s small businesses who will lead the charge of economic growth by using their tax cut to increase capital investment? Apparently not:

This comes via Dean Baker, who comments:

The Trump administration told us that the corporate tax cuts would lead to a massive boom in investment which would increase the capital stock by one third above the baseline projection. But for some reason the nation’s businesses haven’t gotten the message….There is no evidence here of any uptick in investment whatsoever and certainly not of the explosive increase promised by the Trump administration. Maybe if Trump did some more tweeting on the issue it would help.

Patience, Dean. Those tax cuts will supercharge the economy any day now. Just you wait.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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