Opinion: Heath W. Fahle: Cutting taxes with Governor Malloy
Dannel Malloy's first major initiative as governor was to call
for the second largest tax increase in Connecticut's history in
2011. In conjunction with legislative allies, Gov. Malloy
expanded or increased at least 77 taxes at that time in hopes of
raising nearly $2 billion in additional revenue. He did this
while at the same time touting Connecticut as "open for
business."  You could say that the messages were mixed.  To his
credit though, Gov. Malloy's actions since then demonstrate that
he does recognize the power of tax cuts to improve the economy.
The only problem is that after raising taxes on everyone, the
Governor likes to pick tax cut winners and losers. For example,
the company of the state's richest man, Ray Dalio, was a winner.
Bridgewater Associates, the company Dalio founded, will receive
$115 million in tax breaks to move from Westport to Stamford. To
date, tax breaks through the First Five Program and its
successors reduced the burd