Ash Housewares wrote: The

[Hobie]

[quote=Ash Housewares]

The Congressional Budget Office estimated that extending the Bush tax cuts of 2001-2003 beyond 2010 would increase deficits by $1.8 trillion over the following decade:
http://www.cbo.gov/ftpdocs/78xx/doc7878/03-21-PresidentsBudget.pdf
[/quote]

Ash: First this report was written in 2007. The only actual data is for 2006.

But just for the sake of discussion, take a look at page 56. The table projects that deficit/spending turn show reduced deficit spending until 2011 where it turns makes a significant change to the surplus side.

But all bet’s are off due to both Bush and Obama’s stimulus spending.

Regarding the Laffer curve, I think you are mixed up with the concept. Less tax rate = more tax revenue. Read more about increased revenue from the Reagan tax cuts here:

http://www.house.gov/jec/fiscal/tx-grwth/reagtxct/reagtxct.htm