We often hear the republicans claim that tax cuts result in revenue growth. To support their claim they've offered up a graphic from Bush's Treasury Department. One can't blame Bush's people for highlighting his tax cut of 2003 and suggest that this somehow caused the curve to begin its upward climb.
It's interesting to note, though, that the Bush people didn't highlight what happened to revenues after his 2001 tax cut. So, I helped them with the grapic by adding the black arrow. As you can see, after the Bush tax cut of 2001, revenues fell. Their theory doesn't hold up to scrutiny - according to their own evidence.
