Art Laffer: Corporate Tax Cut Phase-in Is a ‘Killer’

EXCERPT:

LAFFER: "If they get rid of the state and local tax deductions I would like that very much. If they phase in the corporate tax cut, I think that’s a killer. That’s just the mistake we made in ‘81 and we caused a great recession of '81-'82 by phasing in the personal income tax cuts. I think they cannot do any phase-in on the corporate tax rate reduction. That would be really bad."