Do Tax Cuts Promote Economic Growth?

Many politicians (and their wealthy supporters) claim that tax cuts promote economic growth. A chart from the New York Federal Reserve Bank illustrates the annual rates of economic growth during each quarter of the last 20 years. Does this chart show a significant increase in economic growth following the tax cuts of 2001 and 2003? How do the rates of economic growth in the decade after the tax cuts compare to the growth rates in the decade prior to the tax cuts?

Do the data support or refute the proposition that tax cuts promote economic growth?