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You will probably not be surprised to learn that the tax break in question has been expanded dramatically as part of the Trump/Ryan tax cuts. washingtonpost.com/us-policy/2019… 
Follow the logic in that CEA statement:
> If gov makes it cheaper for business to buy equipment, then
> Businesses will buy more equipment, which will
> Make workers more productive, which will
> Make businesses pay them more.
washingtonpost.com/us-policy/2019…
> If gov makes it cheaper for business to buy equipment, then
> Businesses will buy more equipment, which will
> Make workers more productive, which will
> Make businesses pay them more.
washingtonpost.com/us-policy/2019…
What actually happened:
> Gov made it cheaper to buy new equipment
> Businesses invested in new equipment, rather than in their employees
> ~fin~
washingtonpost.com/us-policy/2019…
> Gov made it cheaper to buy new equipment
> Businesses invested in new equipment, rather than in their employees
> ~fin~
washingtonpost.com/us-policy/2019…
It's worth questioning why so much of our economic policy is predicated on the notion that "tax cuts for the rich" will lead to "benefits for the middle class." Maybe a better way to help the middle class would be to just... help the middle class? washingtonpost.com/us-policy/2019…
Last point: this is yet another example of how policymakers have turbocharged the rise in economic inequality we've witnessed over the past four decades. The 400 richest families don't end up owning more than the bottom 150 million by accident. washingtonpost.com/us-policy/2019…
