The "cut the tax" mantra - the magic economic pill?

Isn't the present advice from economists just more Reaganomics? Is the answer to every economic problem simply to cut the tax rate? 

I'm not an economic guru. I have a thing called common sense. Had to laugh at this from the Sydney Morning Herald:

• Q: How should we encourage people to work more? A: cut the company tax rate and the top rate on individuals. 
• Q: How should we encourage people to save more? A: cut the company tax rate and the top rate on individuals. 
•  Q: How should we encourage people to invest more? A: cut the company tax rate and the top rate on individuals. 
• Q: How should we encourage innovation? A: cut the company tax rate and the top rate on individuals. 
•  Q: How can we make the economy more agile? A: cut the company tax rate and the top rate on individuals. sydneymorningherald

It's a no brainer. You cut the tax rate and it goes into the pockets of people. It's not re-invested in the company.

Not unless there's incentives to do so? Oh yeah...........