State Corporate Income Tax Analysis

10% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0% 1H-83/2H-09 2H-83/1H-10 1H-84/2H-10 2H-841H-11 1H-85/2H-11 2H-85/1H-12 1H-86/2H-12 2H-86/1H-13 6-Month Periods Since the Start of Each Recovery 1H-87/2H-13 Figure 2 6-Month Real GDP Growth Rates (Annualized): Reagan and Obama Compared (6-month periods, Reagan: 1H-83 to 1H-89; Obama 2H-09 to 1H-16) ■Reagan Obama 1911 2H-87/1H-14 1H-88/2H-14 2H-881H-15 1H-89/2H-15 1H-16 18 10% 9% 8% 7% 6% Reagan 5% 4% 3% Obama 2% 1% 0%

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