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It's proven that tax cuts spur the economy and lead to higher tax revenues, to a point. You obviously can't cut taxes to 0% and improve revenues.
Revenues under Reagan were at an all time high after his cuts. However...if I give you an extra $100 a week and you spend an extra $300, you're going to be in a hole.
Raising taxes improves revenues in the very short term. There is a sudden influx of tax monies.
Reducing taxes improves revenues over a longer term. More money circulating, more people spending money, more people opening businesses and hiring people who in turn buy more stuff and pay taxes on their own income...more money moving around being used to buy things or used to invest in businesses. A single dollar that changes hands dozens of times and is taxed a little on each transfer will bring in more taxes than a single dollar that is given to politicians.
No matter what, though, until politicians learn to "live within their means" so to speak, it won't matter what happens, because we'll always be in a hole.
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