No. They wont. Tax hikes generate less revenue. You know that. Taxes are probably roughly optimized for revenue generation right now. Bush screwed the left, got in on the credit for their programs and left them with no more money to create more. Its genius.
Yet Reagan's tax cuts were reversed.
Tax hikes don't always generate less revenue either. It depends on a lot of factors. A 40% tax rate will surely generate more revenue than a 90% tax rate but it will also generate more revenue than a 1% rate as well.
It is a moot point anyway. The american public just doesn't by the lower taxes equals more revenue.