Lower Tax Rates Yield Higher Tax Revenues
"Presidents Kennedy, Reagan and Bush II all understood what the Laffer Curve was all about. They all cut taxes, they all enjoyed consequent explosions of economic growth so vigorous that the Treasury was awash in ever greater tax revenue. This is not a matter of political opinion or partisanship; this is an empirical, objective fact backed by hard data.
The
U.S. budget deficit has fallen more quickly than even the Bush administration predicted, despite the tax cuts that Democrats moronically claim boost deficits. It is an excess of spending, not a dearth of taxation (the federal government confiscates about 18.4% of what the private sector produces), that causes deficits. If Democrats were genuinely concerned about red ink, they'd demand entitlement reform. That they stymie entitlement reform is all you need to know about their sincerity on deficits."
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