What to think of a policy of fiscal deficits used to reduce tax on corporate earnings?

Many OECD countries (the United States of course, but also the United Kingdom, France and Japan) have chosen to increase their fiscal deficits in order to reduce tax on corporate earnings. Is this a wise choice? It raises three questions: Will the reduction in tax on corporate earnings drive up corporate investment (which is normally the case if companies are financially constrained) or merely their share prices? Could the fiscal deficit have been better used (to increase public investment or reduce other taxes)? Is the fiscal deficit that results from the reduction in earnings tax sustainable and easy to finance? The main problem seems to be that other uses of fiscal deficits may have been more effective: increase in spending on education and training; reduction in social contributions; improvements to the health care system. Corporate investment seems constrained by profits only in the United Kingdom.