Fareed Zakaria in his Time article How Lower Corporate Taxes and Infrastructure Can Save the Economy suggest they can indeed. Borrowing low corporate tax rates, investment incentives, and a shift to a territorial tax system from Fed-Ex‘s Fred Smith, Zakaria adds government investment in infrastructure improvement to his economic plan.
Right now, because of tax and other policies, Smith notes, “if you have a dollar to invest, you are better off investing that dollar someplace other than the United States.”
Great ideas, but they must come with a long-term plan to address the US’s looming debt problem. We can’t fix it immediately without a terrible shock to a weak economy. At the same time, the problem becomes harder to correct every day. Meanwhile, Congress continues to play politics while the clock is ticking and the cliff looms closer and closer.
Read more: http://www.time.com/time/magazine/article/0,9171,2119336,00.html#ixzz20yvewHPv