youbet
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The Vanguard LT Investment Grade Corporate bond fund (VWESX) is yielding more than 7%. So, in a 3% inflation world, you could withdraw 4%, and reinvest 3%, and pretty much keep the inflation-adjusted value of your bonds constant over time, which would allow you to grow your withdrawal rate with inflation. Of course, if inflation exceeds 3%, all bets would be off.
I'm surprised you would advocate the the fixed portion of a portfilio would be 100% long term corporate........
And even if you did take that undiversified approach, and I'd hardly recommend it, your scenario has no real growth.