In 2017, then-President Donald Trump reduced the corporate tax rate from 35 percent to 21 percent. He said it would encourage companies to invest more in the United States and spur economic growth. He said the cuts would pay for themselves and help the country pay off its debt.
But economic advisor Paul Krugman says that never happened, and as a percentage of GDP, there was no bump in private investment in the years after the cut.
NTD spoke with Michael Busler, professor of finance at Stockton University, about his thoughts.