It’s an economic fact that less taxes and regulation leads to a stronger economy and more tax revenue. It’s been proven time and time again, yet ideologues like our “president” fail to see that, and they drive us further toward a depression.
Obama recently said wouldn’t extend the Bush tax cuts. Which shows he has no idea how to fix this economy. He is only going to make it worse.
UPDATE: This article does a good job of explaining why tax cuts increase government revenue. If the government were smart (ha) it would have a flat tax like they dio in Russia. Yes, sad as it may be, Russia has a flat tax and a growing economy and we have this abomination called the tax code, and have a stagnant one. It’s a sad day when the former Soviet Union has a better tax system than we do.