"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"

This quote by Arthur Laffer is describing the financial policies of former President Obama. Laffer is expressing his wonder at how tax cuts do not seem to have an effect till they are in fact implemented. He then goes on to say that Obama's experience with deferred tax rate increases will be the opposite. He believes that the economy will collapse in 2011 due to the deferred tax rate increases. This quote is an example of Laffer's belief that tax cuts are advantageous to the economy, while tax increases are detrimental. He thinks that the deferred tax rate increases will have a negative impact on the economy which it will cause a collapse in 2011. This quote is a testament to Laffer's financial beliefs and his opinion on the impacts of tax policy.