[kenjackson]

Historically when taxes are raised, revenues tend to never get close to projections.

That needs a citation (projections vs reality). I've never heard the claim you've made before. I suspect it is no different than the inaccuracy of projections on tax revenue from conservatives that cutting taxes to the wealthy will provide.

[gsmaverick]

Laffer Curve is the more general concept. http://en.wikipedia.org/wiki/Laffer_Curve

[kenjackson]

The Laffer Curve also says that there is an optimal tax rate for which tax revenue will be maximized. It doesn't say that reducing taxes increases revenue, as this requires the tax rate to be sufficiently high that it is higher than the optimal tax rate.