Terrence Wall Trumpets Own Tax-Dodging?

Refuses to Take a Position on Jobs Bill


MADISON – To the surprise of many, multimillionaire, real estate magnate and tax-dodger Terrence Wall actually sent out a press release today highlighting the fact that he hasn’t paid state income taxes in nine of the last 10 years
 
In a pathetic attempt to criticize Senator Feingold for his support of a bipartisan jobs bill that “gives [Wisconsin] employers tax credits for new workers,” Wall trumpeted his history of tax avoidance and, at the same time, refused to take any position on the bipartisan jobs legislation currently making its way through the U.S. Senate.
 
“Unlike Mr. Wall, business owners across Wisconsin, who are in a position to take advantage of tax credits or incentives that Senator Feingold has fought for, actually pay their taxes,” said Mike Tate, Chairman of the Democratic Party of Wisconsin.  “It seems that Terrence Wall will actually talk about anything – including his long, detailed history of tax avoidance - to avoid telling us how he would vote on the issues that matter most to the people of Wisconsin.” 
 
In a recent interview with WIBA radio host Mitch Henck, Wall, the self-proclaimed “job creator,” admitted that he has laid off 15 workers, going from 50 employees to 35.
 
All while reports continue to surface about Terrence Wall not paying state income taxes year after year. The latest report from the Milwaukee Journal Sentinel millionaire Terrence Wall paid no federal income tax while making $2 million.  According to his 1040 form on his federal tax return, the self-proclaimed “successful businessman” reported “$3.8 million in business and real estate accounting losses.” 

Facts on Senate Jobs Bill

 

  • $13 billion Social Security tax break for businesses
  • Allowances for businesses to write-of legitimate business expenses, including      equipment
  • Crackdowns on off-shore tax shelters (Unfortunately, the bill did not crack down on Delaware tax shelters.)

 

 

What Others are Saying

  • Susan Collins (R-ME), Olympia Snowe (R-ME) and George Voinivich (R-OH) joined with Senator Feingold in support of the jobs bill.