If The Stupid Keep Buying It The Politicians Will Keep Selling It

SEE HERE There are a couple of reasons why the soaking the rich narrative doesn't work. Reason 1: There are not enough rich and those there are are already paying a disproportionately large portion of the income tax. Reason2: The rich can move their income around to evade the taxes when they get too high so they don't pay them if they are too onerous. The methods include investing in tax exempt securities, finding ways to receive income that are not reported as income (legally some things cannot be monetized until they are actually turned into money), and another is Reason 3: They are more mobile and can simply move away out of the reach of the tax collector.

In any case the record is quite clear. When you cut taxes you raise revenue. That's been the case every time. The problem is not that the revenue goes up, it is that the Congress then increases spending. So we have to cut taxes and cut spending and then we'll address the deficit problem.