Unspoken here is that the tax cut produced MORE revenue for the Treasury, not less. Thus raising the rate will produce LESS revenue. Obama appears not to get this very simple concept, btw. He was asked about it specifically during hte campaign and basically said I dont know and I dont care.
it was not until 2005 before we slightly passed what we were collecting in taxes in the year 2000, before the initial 2001 tax cuts... and when taxes are not cut, tax revenues do not go down each year, they continue to go up in unison with our gdp growth....
we have not made up in tax revenues since 2005... when our gvt FINALLY pulled in a little more in revenues than in 2000, what we lost in tax revenues that would have been collected without the tax cuts in 2001, 2002, 2003 and 2004.... was what was found in my last review of it.