MADISON, Wis. — A recent pro-Romney super-PAC television ad features Joseph Buechel of Wisconsin, who identifies himself as a small business owner, decrying the Obama Administration’s tax policy. However, tax records obtained by One Wisconsin Now show Buechel’s business, Natural Stone Veneers International, Inc., has paid nothing in state corporate income taxes in any of the last five years, and, based on his reported personal state income tax liability, it appears he, like 97% of small business owners, would not be affected by President Obama’s proposal to allow the Bush tax cuts for those with incomes over $250,000 to expire.
One Wisconsin Now Executive Director Scot Ross commented, “Mr. Buechel has a lot to say about taxes and the Obama administration for someone whose business hasn’t paid a dime in state corporate income taxes for the entire first term of the President and who would almost certainly would not pay more by President Obama’s proposal to ask millionaires to pay their fair share of taxes.”
Information obtained by One Wisconsin Now from the Department of Revenue shows the business Mr. Buechel owns, Natural Stone Veneers International, Inc., paid no state corporate income tax between 2007 and 2011.
One Wisconsin Now also reviewed Department of Revenue records of the personal state income tax paid by Mr. Buechel between 2007 and 2011. The tax liability he reported appears to be based on an annual income far below $250,000, meaning he would not be paying any tax increase that could occur if, as President Obama has proposed, the Bush tax cuts for the wealthiest Americans were allowed to expire.
Ross concluded, “Once again, the right-wing rhetoric on taxes isn’t meeting the reality. You can’t say a business like Mr. Buechel’s, that hasn’t paid any state corporate income taxes in the last five years, is overburdened. And unless he’s hiding hundreds of thousands of dollars in personal income, asking millionaires to pay their fair share of taxes isn’t going to add a dime to his tax bill.”