Lie #4: Tax cuts always increase revenue.
Thanks to supply-side snake oil salesman Arthur Laffer and his magical Laffer Curve, conservatives have been peddling this mythsince the age of Reagan. Tax cuts, which GOP doctrine now claims is theuniversal cure-all for surpluses and deficits, male pattern baldnessand erectile dysfunction, are at the center of every Republicaneconomic program. As John McCain put it during the campaign, "tax cuts, starting withKennedy, as we all know, increase revenues." And in February, TexasRepublican Senator Kay Bailey Hutchison offered the purest statement of Arthur Laffer's fantasy:
"Every major tax cut we've had in history has created more revenue."