Graph: Results of Tax Cuts on Revenue to the Federal Government

Democrats, led by President Obama, frequently advance the argument that the deficits that the federal government has been running since 2001 (~$500 billion under Bush's 8 years, ~$1500 billion during Obama's 3 years) are the result of the Bush Tax Cuts (which Obama and the Democrats continued and extended), thus it is the Republicans and George W Bush's fault for the current nation-destroying federal debt. Let's look at the data:

Drawing on data provided by the White House's Government Printing Office, we can see here a history of the revenue or money collected by the national government since 1980. I went ahead and drew some lines in to indicate 4 of the arguably largest tax cuts that occurred during that time.

As we can see, the revenue that the federal government collected immediately grew by substantial amounts after the tax cuts in 1981, 1986, and 1997, giving us three solid data points from which to draw a conclusion that tax cuts, especially on the wealthy and on business, lead to the federal government getting more revenue to defend our borders and provide services for the truly needy. The Bush Tax cuts of 2001 though did not lead to immediate and substantial growth of revenue- but after another tax law in 2003 was passed which accelerated the tax cuts and added more of them, the result was an explosion of revenue for the government, jumping from $2 trillion to $2.6 trillion in only 7 years.

All other things being equal and the logic being consistent to what was seen in earlier tax cuts, the implementation of the Bush Tax cuts led to an additional $600 billion a year in revenue for our federal government, leading to better protection of life, liberty, and property for the citizens of the United States of America.

Who doesn't like that?

UPDATE: To take this a little further and show you how crazy I am, I suggest that there is a way to cure our current deficits, and the cure is more cowbell. If previous tax cuts led to increased federal revenue, then more tax cuts could also lead to more federal revenue- by my estimate, if taxes were cut by the same level as Bush+Clinton+Reagan, then we'd be able to raise enough revenue to balance the budget.

So there you go- Democrats and liberals and Obama, Pelosi, Reid, Stabenow, and Peters are all backwards again- rather than raising taxes to balance the budget, they should be massively cutting taxes. The prosecution rests.

Educate yourself- try Return to Prosperity: How America Can Regain Its Economic Superpower Status by Arthur B. Laffer.