Strong economic growth helps bring down the deficit, bring down unemployment, correct the income slump.
From Pappa Bush, through Clinton, then to W lowering taxes for the most wealthy did none of these things. The economy grew when taxes were raised.
“Bill Clinton and the elder George Bush both raised taxes in the early 1990s, and conservatives predicted disaster. Instead, the economy boomed, and incomes grew at their fastest pace since the 1960s. Then came the younger Mr. Bush, the tax cuts, the disappointing expansion and the worst downturn since the Depression.”
SOURCE: David Leonhardt, NYT, September 15, 2012