Ok, after this post I'll stop ranting unless I'm provoked
About tax cuts being good for the economy. In certain circumstances they are.
When you put more money into the private sector, its good for the economy. The reason being there is more capital available for business to invest and expand.
Budget deficits are bad for the economy for the same reason. When the federal government runs a deficit, they have to borrow (float T-bills) to pay for the deficit. This takes money away from the private sector, making less capital available for business investment and expansion.
So if you can cut taxes AND balance the budget, its great for the economy. If your tax cuts run up the deficit, then you're simply robbing peter to pay paul, there won't be more capital available in the private sector because what the government gives the economy in the form of tax cuts it takes away in the form of a budget deficit.
The Reagan economy wasn't good because of lower tax rates. The Reagan economy grew because of the end of the oil embargo, the development of new technologies such as fuel injection, which overnight doubled the worlds oil supply, (by doubling fuel economy) dropping the price of oil considerably, and defense spending at levels that literally turned our economy into a "wartime" economy. (And left us with 5 trillion in debt)
The economy grew under the Clinton administration as well, but he raised taxes. That alone is enough to make one skeptical of the idea that the economy is slow because taxes are too high.
Smart governing and fiscal responsibility (NAFTA, balancing the budget) plus the lucky timing of the dot com boom helped the economy during those 8 years.
Tax cuts when there's a surplus, yes that helps the economy. Tax cuts when there's already a record deficit AND we're fighting a war? Bad idea.