Laffer said tax cuts would have ‘near immediate’ impact

lafferIt wasn’t only Gov. Sam Brownback who thought that lowering the state’s income taxes would act “like a shot of adrenaline into the heart of the Kansas economy.” Economist Arthur Laffer (in photo), who consulted on Kansas’ tax plan, made a similar prediction. A 2012 report he wrote with Stephen Moore, who is now the top economist with the Heritage Foundation, argued: “The quality of schools also matters as does the state’s highway system, but it takes years for those policies to pay dividends, while cutting taxes can have a near immediate and permanent impact, which is why we have advised Oklahoma, Kansas and other states to cut their income tax rates if they want the most effective immediate and lasting boost to their states’ economies.”