The Bush income tax cuts resulted in the rich paying more federal income tax and a greater share of the federal income tax, and the poor paying less federal income tax and a lesser share of the federal income tax. Federal revenue soared as both personal income tax and capital gains tax revenue increased. By 2007 the federal deficit was lower than in 2000.

Tax hikes slow economic growth. Lower tax rates pave the way for faster growth. The 1993 Clinton tax hikes slowed economic growth during that decade despite the common assumption that it was a period of rapid expansion. It was not until a tax cut later in the decade that growth took off. The 2003 Bush tax cuts helped the economy recover from a recession and put it on stronger footing to grow in the face of growing headwinds.