This one's going to leave a mark.
Republican U.S. Rep. Tom Petri did not pay any state income taxes from 2002 through 2005
Tom Petri is a long term incumbant in the Wisconsin 6th Congressional district located in the central eastern part of the state.
Petri, who is regularly listed by the Center for Responsive Politics as one of the wealthiest members of Congress, was the only member of Wisconsin's eight-person U.S. House delegation who didn't pay state income taxes for any years over the past decade. Liberal advocacy group One Wisconsin Now provided the Department of Revenue tax records exclusively to The Associated Press.
"Tom Petri can shamelessly blame 9-11 for how he avoided taxes for his foreign portfolio, but it's 30 years of Republican tax policy that benefits rich investors over hard-working middle class Americans that's the real outrage," Ross said.
Petri paid no taxes despite the fact that he reported net worth of $5.6 million in 2002, $5.2 million in 2003 and $6 million in 2004. In 2005, Petri did not report his net worth but instead said in his House disclosure statements that he had investments worth between $5 million and $40 million.
The Department of Revenue records show that for 2001, Petri paid $7,488 in state taxes. He paid nothing for the next four years, than in 2006 he paid $45,935. Taxes he paid since then ranged from a low of $24,915 in 2011 to a high of $215,095 in 2009.
No information on his federal tax payments was listed in the article, however Republican candidates withholding federal tax returns is spreading in this state since Mitt Romney refused to release but 1 full and 1 partial year of his own tax returns and US Senate Candidate (and former Governor) Tommy Thompson is refusing the release ANY of his tax returns.
Petri is in a relatively safe district and has had to do little, if any, campaigning in the past facing poorly financed candidates. This revelation might be a game changer.
Petri, 72, is running for a 16th term representing the 6th Congressional District in east-central Wisconsin. The district includes Oshkosh and Fond du Lac, where Petri lives. He faces Democrat Joe Kallas in November.
Petri is again being opposed by Democrat Joe Kallas, a 63 yeaar old retired teacher.
Petri defeated Kallas 71% to 29% in 2010 and has won re-election with at least 64% of the vote for the past 20 years. Petri has a huge financial edge over Kallas in this election as well, with $930,000 on hand compared with less than $5,000 for Kallas.
Scot Ross, executive director of One Wisconsin Now:
"Tom Petri can shamelessly blame 9-11 for how he avoided taxes for his foreign portfolio, but it's 30 years of Republican tax policy that benefits rich investors over hard-working middle class Americans that's the real outrage," Ross said.
The issue of tax fairness is one of the major themes in the presidential race, with Republican Mitt Romney and Ryan arguing for extending all of the existing Bush-era tax cuts due to expire on Dec. 31. They also want to cut tax rates 20% across the board.
Petris Demcratic opponent, Joe Kallas, has said that this revelation indicates the need for serious tax reform.
Theincome tax structurein Wisconsin is very harsh with even the poorest people being taxed:
Incomes of 0 - $10,700 pay 4.60%
$10,070 - $20,130 pay $463.22 + 6.15% of the amount over $10,700
$20,130 - $151,000 pay $1,081.91 + 6.50% of the amount over $20,130
$151,000 - $221,660 pay $9,588.46 + 6.75% of the amount over $151,000
$221,660 + over pay $14,358.01 + 7.75% of the amount over $221,600
Aside from being narrow, with millionaires paying the same rate as the upper middle class, everyone is supposed to pay - even the poorest workers. The fact that Petri somehow found a way to totally avoid it is outrageous.
The Kallas web site is here and you can help Joe Kalls via Act Blue here.
Major Update: I have a breaking news diary up here about the start of protester arrests at the State Capitol. Due to the nature of this diary, I chose not to add it here, but to take the extroardinary measure of posting it (yes, sorry, two diaries in one day is something I don't do) on it's own.
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