If your statement is right then why not make tax rates zero? That would maximize tax revenues?
Obviously you are incorrect. During Clinton era tax rates went up and so did revenues. May be 39.5% is the bottom of the famous Laffer curve.
But tax rates is not the main reason I like the fiscal cliff. Why I like is because it mandates spending cuts. Our politicians on both sides, especially democrats, are not known for real spending cuts.
I’ve heard discussions that the problem isn’t a hike in the tax rates per se, but not knowing what they are going to be that is a big damper. You can’t make business decisions when you don’t know what tax rates will be in the next year. Heck, I can’t even finish my budget for next year, not knowing what our income tax rate will be.