[Non-Sequitur]

Any time there has been sustained and significant tax cuts (e.g., Kennedy, Reagan, Bush), gov't tax receipts increased, not decreased.

And in all cases so did the deficit. So the real issue is not that tax rates are so low but why is government spending so high? Attack that.

[econjack]

Agreed. There should be a tax cut and a spending decrease to get a long run boost to the economy. (The spending multiple for the gov’t is always one less than the private expenditures multiplier. That is, you get more bang for the buck when the private sector gets to keep and spend its own money.) Plus, following such a policy in Washington would give a huge boost to the credibility of politicians and might even suggest they're not idiots after all.