Bill Clinton raised taxes in 1993. What followed was the one of the greatest eras of job creation in American history. In eight years 22.3 million jobs were created and his second term ended with the a budget surplus, something we won't see again for decades.
Republicans believe the best way to create jobs is with tax cuts.
George W. Bush cut taxes in 2001 and again in 2003, calling the latter act the Jobs and Growth Tax Relief Reconciliation Act of 2003. The Bush era saw the creation of 1.1 million jobs in 8 years, 21.2 million less than during Clinton's two terms. He left office with the largest deficit in history.
Here is a selection of quotes form Republicans after Clinton's tax increase.
Rep. Newt Gingrich (R-GA), February 2, 1993: We have all too many people in the Democratic administration who are talking about bigger Government, bigger bureaucracy, more programs, and higher taxes. I believe that that will in fact kill the current recovery and put us back in a recession. It might take 1 1/2 or 2 years, but it will happen. (Congressional Record, 1993, Thomas)
Rep. Bill Archer (R-TX), May 24, 1993: I would much rather be here today supporting the President and I would do so if his proposals could expect to increase jobs and the standard of living for Americans, but I believe his massive tax increases will do just the opposite. (Congressional Record, 1993, Thomas)
Rep. Bob Goodlatte (R-GA), July 13, 1993: Small businesses generate the bulk of this Nation’s new jobs . And they will be the hardest hit by the Clinton tax-and-spend budget. Because, when you raise taxes, you kill jobs. (Congressional Record, 1993, Thomas)
Rep. Thomas Ewing (R-IL), February 21, 1993: The Clinton plan will hurt the economy and kill new job creation…By crippling small- and medium-sized businesses, the plan will kill jobs. (Congressional Record, 1993, Thomas)
Rep. John Kasich (R-OH), August 5, 1993: Do you know what? This is now your package. We will come back here next year and try to help you when this puts the economy in the gutter. And virtually every major economic estimating firm in this country says your bill is going to kill jobs. (Congressional Record 1993, Page: H6249)
Rep. Robert Dornan (R-CA), August 5, 1993: The problem with our economy is that there is too little employment and too little growth. This plan will do nothing to improve that condition and will actually make it worse. (Congressional Record, 1993, Page: H6148)
Rep. Christopher Cox (R-CA), May, 27, 1993: This is really the Dr. Kevorkian plan for our economy. It will kill jobs, kill businesses, and yes, kill even the higher tax revenues that these suicidal tax increasers hope to gain. (Congressional Record, 1993, Page: H2949)
Rep. Jim Ramstad (R-MN), March 17, 1993: These new taxes will stifle economic growth, destroy jobs, reduce revenues, and increase the deficit. Economists across the ideological spectrum are convinced that the Clinton tax increases will lead to widespread job loss. (Congressional Record, 1993, Page: H1355)
Rep. Phil Crane (R-IL), March 18, 1993: The budget proposal offered by the Democrats is a recipe for economic and fiscal disaster…It proposes to increase taxes at a time when we have a fragile economy–higher taxes will only stifle job creation and economic growth.(Congressional Record, 1993, Page: H1454)
Rep. Dick Armey (R-TX), August 2, 1993: The impact on job creation is going to be devastating, and the American young people in particular will suffer a fairly substantial deferment of their lives because there simply won’t be jobs for the next two to three years to go around to our young graduates across the country. (CNN)
Rep. Joel Hefley (R-CO), August 4, 1993: However Clinton wants to spin his tax plan, the bottom line is this: It will raise your taxes, increase the deficit, and kill over 1 million jobs. (Congressional Record, 1993, Page: H5745)