The circuit works fine with the schmidt trigger inverter disconnected; the capacitor discharges to ground when the switch is closed and recharges to almost 5V when its opened. With the inverter connected, however, the cap discharges to only about 0.8 volts. That's not low enough to trigger a change in the inverter's output. Why doesn't that cap voltage go to ground with the inverter connected?
Here are the components:
R1: 27K
R2: 27K
C: 1 microfarad.
D: 1N4001 (max forward voltage is 1.2V)
Inverter: SN74LS14N
Supply voltage: 4.9V