Is there any example where a tax cut to the wealthy/business that made a significant job growth and payroll taxes covered the cut?
Not that I'm aware of. Now, a tax cut to businesses would help, I think, because we're so far above the other nations. It's a significant tax on retirement investments and such.
That said, businesses don't expand and the wealthy don't invest unless they think they can get their money back, so when looking to stimulate the economy you need to always consider where the economy is lacking - supply or demand.
All the supply stimulus in the world won't do jack if there isn't enough demand seen to consume said supply. On the other hand, it doesn't matter how much demand there is if there isn't enough supply to go around, prices will merely rise to provide the same amount of supply.
I generally see demand stimulus as being better, because if you stimulate demand, supply WILL rise so long as there is credit available to borrow to increase supply.
Poor people, allowed to keep more of their own money, will tend to spend it, stimulating the economy faster and more reliably than giving rich people money.
Personally, I look at our historically low interest rates, and see the country and world awash in money looking for investments. Even at near 0% interest rates, there just aren't enough business cases out there that have rewards considerate with the risks.
So, supply is taken care of. Demand is what needs work.
The more I look at the house and senate plans, seems like we are going to be hosed. Appears that in time the deficit is going to be so great that taxes will be raised and services cut.
Yeah, balance the freaking budget dudes.
Has there ever been a tax cut that did NOT increase tax revenues from the resulting growth in the economy ??
Lots of them. In many cases the growth would have happened anyways. That said, deficit spending and the resulting interest that must be paid can create a false economy if the extra interest consumes the extra tax revenue and more.
We must always intelligently fight fraud, waste, and abuse. We need to cut spending before cutting taxes too much further.