A series of disincentives caused mainly by government:
Banks are flush with cash as forced by the fed but cant lend because of Dodd Frank, which is still being implemented and will get worse.
Companies and individuals will not sign up for unlimited and unknown liabilities by nature. The future cost of an employee cant be known because of Obamacare. The president hasn't decided today if he will change the law for tomorrow regarding the employer mandate.
International companies are flush with cash. By operation of tax law, they are allowed to set up subsidiaries in countries where the corp rate is lower. If they bring the money back, they still owe the tax in the foreign country plus the differential in US rates. They wont.
Regulations, compliance and insurance burdens are huge impediments. The rules are so complex an individuals and businesses cant fully comply.
The primary driver in all of this is an overall disdain for freedom and capitalism by the left. A constant stoking of class warfare and obsession with fairness and redistribution stops economic expansion.