David Malpass: Bring on the Tax Revolt

“Right now. We could create 300,000 jobs in the six months.”

I found it slightly amusing to hear David Malpass say a “tax revolt” is coming. That’s exactly what happened last year with our county executive race here in Nassau County (where Bruce Blakeman was originally from, before moving into his ivory tower on the upper-east side of Manhattan). We had an actual “Tax Revolt” ballot line, which delivered enough votes to put the under funded longshot challenger Ed Mangano over the Tom Suozzi, the incumbent with a ridonkulous amount of money.

Hmmm…a longshot challenger defeating a well funded incumbent. Interesting…

David Malpass is uniquely qualified to discuss taxes, because while everyone with an (R-State) after there name tried to lay claim to the legacy of Ronald Reagan, Malpass actually helped engineer the Reagan tax cuts while at the Treasury Department. And he took his tax-revolt message to (no sleep ‘til) Brooklyn recently…

“Voters and small business owners are at a breaking point, tired and worried about the tax and spend policies in national and state governments…” Malpass warned of a “coming onslaught of tax hikes and regulations, Small businesses are getting a one-two punch, a real double whammy from Washington and Albany. And it directly impacts on jobs for New Yorkers,” said Malpass, who worked in the Reagan and first Bush administrations on economic, budget and foreign affairs issues as assistant deputy director of the treasury and state department…

Malpass’s solutions include “an end to the MTA payroll tax, immediate reduction in the federal regulatory mandates causing high property taxes, stopping looming tax hikes, and allowing banks to offer credit to small businesses without being penalized by Washington regulators.”

Among the pending federal actions Malpass warned about were the expected income tax hike, a capital gains tax rate increase impacting homeowners and small business owners, and limits on tax deductibility of mortgages and property taxes “impacting New York harder than any other state.”

If NY had it’s primary at a normal time instead of Sept. 14th (leaving less than two month until the general), Malpass could already be taking it to Sen. Gilligan. For the time being, he just has to keep proving why he’s the strongest candidate to face her.

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