Republican Primary Candidate Pays No State Income Taxes, Says He Owes No State Income Taxes
Madison, WI – Wisconsin State AFL-CIO President David Newby said today that multi-millionaire real estate magnate Terrence Wall had a lot of explaining to do about media reports that he paid no state income taxes in four of the last five years.
“Working families want to know why a multi-millionaire is saying he owes no state income taxes,” said Newby, “They also want to know why he isn’t paying any state income tax. What makes Terrance Wall special?”
According to a personal financial disclosure report Wall recently filed, Wall reported income between $3,494,197 to $15,273,332 and reported personal assets totaling $58,584,046 to $129,862,000. In a November interview with WisPolitics, Wall scoffed at the idea he’s not paying his fair share in taxes, saying, “There’s no such thing as ‘What is your fair share?”
“Wall supports the same economic policies that threw this country into the worst economic crisis since the Great Depression and he opposes the solutions we need to get us out of it,” said David Newby, President, Wisconsin State AFL-CIO. “Working families are angry with tax cuts for the wealthiest few, unfair trade deals that have outsourced jobs overseas, and rising health care costs.”
Newby cited Wall’s past support for President Bush’s economic policies and unfair trade deals, like NAFTA and expanded trade with China, that have shipped Wisconsin jobs overseas.
“Wall has said Wall Street shouldn’t be regulated and that our health care system isn’t broken. He couldn’t be more wrong,” Newby said, “I believe comments like that show how out of touch he is with working families who want Wall Street bankers to be held accountable, and who need health insurance reform and an economy that works for everyone.”
The Wisconsin State AFL-CIO represents over 250,000 members in over 1,000 affiliated unions and is a key part of the nation's largest and strongest labor federation—the AFL-CIO, which unites 10.5 million working women and men of every race and ethnicity and from every walk of life.
Wispolitics: 1/15/2010 –
The Wall Report: 5/2007 –
The Wall Report: 2/2008 –