Tax cuts are for the ECONOMY. They bring in MORE REVENUE because more jobs are created, which creates more taxpayers. The largest earners wind up paying more taxes with lower rates because it's cheaper than paying accountants to shelter the income.
The only reason the deficits are high is because of ENTITLEMENT SPENDING, which is 70 percent of the federal budget.
Tax cuts are for the ECONOMY. They bring in MORE REVENUE
You're speaking of the "Laffer Curve." The fundamental prediction of the Laffer Curve was that cutting tax rates would increase tax revenues. In 40 years of supply side economics, that has NEVER EVER happened.
Look at the bottom curve. The ONLY time net income tax revenues increased was during the Clinton admin. Because Clinton RAISED taxes in 1993; top rates went from 31% to 39.6%; corporate rates from 34% to 36%.
The other big prediction that goes along with the Laffer Curve is that tax increases will damage the economy. Again, the Clinton admin proves that claim is also false. Clinton alone produced a booming economy, low unemployment, and BALANCED BUDGETS. Clinton succeeded, voodoo economics FAILED.
