All other things being equal, lower tax rates probably will tend to lower government revenue. It depends on what the tax is, however, on what activity it is attached to, and on what particular form of tax relief is on offer.
Some tax cuts are more likely to stimulate investment and to stimulate growth offsets. Other forms of tax relief, such as lump-sum relief to individuals, are far less likely to have a long-term payback.
The other thing to bear in mind is that one ought to think of this, Mr. Chairman, on a present-value basis--in other words, that the stream of benefits the economy derives arrives over time and won't arrive within one year.