In the spirit of Independence Day I'm sharing an article taken directly from the Wall Street Journal and sharing it:

Sometimes, simple ides are the best ideas, said Stephen Moore in the Wall Street Jounral. Take supply-side economics, which holds that tax cuts ultimately boost economic activity and lead to more tax revenue, not less. Ronald Reagan was the first to take the supply-side plunge, and was vindicated. He slashed the highest personal income tax rate to 28 percent from a "confiscatory" 70 percent. The result? An economic boom that doubled federal tax receipts. Now we have "overpowering confirming evidence" that the first time was not a fluke. In 2003, President Bush cut taxes on dividends to 15 percent from 39.6 percent, and on capital gains to 15 percent from 20 percent. As a result federal tax revenues have surged by 15.4 percent in the first 8 months of fiscal 2005 over the same period in 2004. Federal, State, and City deficits were shrinking, and some states were building surpluses. The controling power now is insisting "we can't afford" to make the bush tax cuts permanent. In Fact, the evidence points to the opposite conclusion: "We can't afford not to make the tax cuts permanent."

In Conclusion: Both times in Recent History when we lowered taxes the Government collect more money!