What valleyfarm said.
A few whacks with a hefty rubber mallet may help loosen it.
I just rebuilt/painted my 4 ft. Rotary Cutter.
I found it just as easy to remove the stump-jumper pan from the gear shaft, with baldes still attached, pulled the whole thing out, then went after the blades.
If you already have the blade nuts loose, you are halfway home.
you can also try to penetrating oil from topside and underneath.
If you are tempted to hit it, use a block of wood, no hammer-against-metal for fear of buggering the threads.
I am a firm believer in anti-sieze grease, especially on things like implements.
Oh, BTW.... I busted a 1 1/8" Lockwasher while doing my rebuild, they are the standard lockwasher for a Rotary Cutter blade bolt.
I had to buy a box of 10 of them (McMaster) If anyone has trouble finding them, and needs one or two, give me a hollar.
I checked TSC they didn't carry just the Lockwasher, but had the entire bolt,nut, washer assembly for a hefty chunk of money.
Lockwashers, get em while their hot.