Rana Foroohar, Time's Managining editor claimed that tax cuts don't spur growth - despite the fact that the Bush tax cuts created 8 million jobs and spurred 50 months of uninteruptted economic growth.
Laslty, the claim that China is more efficient was debunked by Michale Schuman at Time Business on October 1.
http://business.time.com/2012/10/01/dispelling-the-myth-of-chinese-efficiency/