Quote by Arthur Laffer

It has always amazed me how tax cuts don't work until they take effect. Mr. Obama's experience with deferred tax rate increases will be the reverse. The economy will collapse in 2011.

It has always amazed me how tax cuts don't work until they t

Summary

This quote suggests that the speaker finds it perplexing how tax cuts are not immediately effective but only start working after they have been implemented. They contrast this with the expectation that the proposed deferred tax rate increases by Obama will have an adverse effect on the economy, causing it to collapse in 2011. It implies a skepticism towards the effectiveness of tax cuts and a pessimistic outlook on the economic impact of potential tax rate increases.

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By Arthur Laffer

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