In fact, trying to increase capital expenditure to achieve future income gains actually faces an anti-intuitive danger: most capital expenditure creates future depreciation/maintenance/ opportunity costs. So if you mis-allocate big chunks of capital expenditure (and centrally driven political decisions such as this have a high risk of that happening compared to decentralised/incremental/market decisions) your apparent fix can actually make the situation worse, as your big chunks of capital create future maintenance and depreciation and political liabilities which create (political) pressure for further draws on the future tax base.
There's a strong argument that various forms of past infrastructure spending that now require upkeep the local population can't afford (various road infrastructure in local municipalities) and rust belts are literally that.
Also, if the form of capital expenditure focuses on environmental resource consumption or uncosted externalaties, some forms of capital expenditure can be thought of as transferring future consumption into the present.
And then I haven't even touched upon whether the capital expenditure/expansion is funded via debt...