The counter for that is that taxes change economic activity and so raising taxes doesn't bring in as much revenue as you would think because some activities are no longer worth doing (profitable) after paying higher taxes. (not to mention people looking for tax deductions).

Of course taxes are not a revenue optimization problem to those pointing the above out. It is the tax and spenders that should be looking at the above and are not (other than childish claims that trickle down doesn't work)