The Gipper did say that, but he was wrong, we ended up with a huge deficit until Clinton raised those taxes in the early 90's. The federal tax rate has not gone up since then (and the Clinton tax increase only affected the top few percent of taxpayers) they have only gone down since then, most notably with the Bush tax cuts.
Which makes you wonder why the Tea Party members are busy stapling tea bags to their hats. In the past 15 years federal income taxes have only gone down. Even Obama cut them last year.
As with any Religion it is taken on Faith and not reason! They have turned all this into a Religion, and turned off their brains, since it is so much easier to just do what the authority figure tells you is the Right thing to do!
At this point, I'm pretty certain greenspan is a retard.
That doesn't mean that the tax cuts should stay in place, just that "because greenspan said so" simply means you should check that advice about a thousand different ways before assuming anything other than it is stupid.
Personally, what I think we need right now are new taxes with a well defined method of dodging them. We need to get people sitting on lots of liquid capital to start spending. I think giving it to the government is about the most inefficient thing you could do with it, so it is best to give a useful option other than sending it to the IRS.
lamparty
Even Greenspan says to let the Bush tax cuts expire! Of course you will never get a lot of republicans to admit that this is true, since Saint Reagan said that tax cuts on the Rich means more tax revenue collected!