"Ten Myths of the Bush Tax Cuts" recently published by The Heritage Foundation shows that, contrary to conventional wisdom:

• Current tax revenues of 18.4% of GDP are now above the historical average;
• Even if the Bush tax cuts are made permanent, CBO projects revenues will still surge to a record 22.8% of GDP by 2050;
• Negative GDP, investment, and jobs trends immediately reversed after the 2003 tax cuts were enacted; and
• The Bush tax cuts actually shifted the total tax burden even further towards the rich, according to CBO.

For more details on these and many more mythbusters go to:

http://www.heritage.org/Research/Taxes/bg2001.cfm

I hope you find these useful to answer the myths raised in the media and by those who never saw a tax they thought could not be higher.

Brian Riedl is Grover M. Hermann Fellow for Federal Budgetary Affairs at The Heritage Foundation