Eight of the last nine recessions have been under Republican presidents

[cthulu2016]

2. I do not think the tax relationship is causal

Low taxes on the wealthy do not, in themselves, cause economic calamity. Low taxes on the wealthy arise as part of an overall rich-friendly governmental mindset.

A lower tax rate is a good indicator of things like deregulation of the financial sector, or throttling down inflation. Whenever the rich are running the show there will be a whole pile of rich-friendly policies.

Causally, however, it would not doing anything for the economy today to raise tax rates on the rich unless every penny of that revenue were directed to a purpose more stimulative than whatever the rich would have done with the same money.

A surcharge on the rich to fund direct government hiring would be helpful.

A surcharge on the rich to reduce the deficit would (in today's world) be net-harmful to the economy.

It's all about what you do with the revenue generated.