As the Data Show, Higher Corporate Profits Mean Higher Investment (not)

Fans of economic policy are used to the old "night is day," "down is up," approach to economic policy. After all, much of the media are worried about robots taking all the jobs even as the data from the Bureau of Labor Statistics show that productivity growth (the rate at which robots are taking jobs) is at a record slow pace.

That's why it is hardly surprising to hear the argument being taken seriously that reducing corporate taxes will lead to more investment and thereby greater wage growth...