Economics is a vast and complex subject that can't be summed up by simple statements like "lower taxes means more revenue". That is always a republican talking point, but there is no proof one way or the other that it is true.
Just because revenue went up 20% over the last 8 years (I'm too lazy to check if it is true) doesn't mean this is due to the tax cuts. Revenue may have grown more if we didn't have the tax cuts.
The facts we do have are that the presidents that espoused this theory (Reagan & Bush II) are by far the worst when it comes to putting our country into a debt that we'll likely never get out of.
http://zfacts.com/p/318.html
"Some say Reagan had nothing to do with the debt's U turn
They say it was Congressional Democrats. Not true. Had things worked out just as Reagan proposed and predicted, the debt still would have gone up 85% as much. But even this is deceptive. The reason his predicted savings did not materialize was not Congress. The reason was that he predicted much more economic growth from supply-side magic than actually happened. So he counted on taxes that were never collected to help his budgets. In fact a study by the House found that Reagan asked for $29.4 billion more in spending than Congress passed."
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