Raise Taxes or Raise Revenue

I've said it before but it bears repeating again:

The idea on the left that the Bush tax cuts have been horrendous and need to be reversed simply isn't borne out by the facts. Yes , there was some decrease in government revenues in Bush's first term, but the last four years have seen the most rapid increase in tax revenues in the entire postwar period. That's because tax cuts fuel economic growth, which in turn raises revenue.

Even if we accept Obama's mischaracterizations of his own tax plan and say that he only wants to raise taxes on the rich, that tax raise would have the effect of slowing growth, and would therefore result in a leveling off of the steep rate at which government revenues have been growing. That's just bad policy.