In fact, early in Reagan's first term, Congress was forced to adopt emergency tax increases and spending cuts to restrain the ballooning budget shortfall.
["What was destroyed for George W. Bush on that day (9/11) was all that came before, and he seemed to welcome the destruction as if it filled a great void," The New Yorker's Philip Gourevitch once remarked. "Afterward, he joked that he could now increase the national deficit. War, recession, national emergency, he said: 'Lucky me, I hit the trifecta.'" And in August 2004, Bush "explained" why high taxes on the rich don't work: "Really rich people," he said, "figure out how to dodge taxes anyway." (Daily Press, August 9th)]
[One historic evening in 1975, Jude Wannisky and Arthur Laffer got together in a bar with some other supply-side confederates and, in a moment of lubricated inspiration, drew what became known as the Laffer Curve (illustrating the theory that, if taxes rise beyond a certain level, they will discourage economic growth and actually reduce government revenues) on a bar napkin... belonging to Dick Cheney.]