MADISON, Wis. — According to U.S. Rep. Tom Petri, the 9/11 terrorist attack caused such damage to his foreign investment portfolio that the millionaire Congressman did not pay any state income taxes for four years. Now, instead of apologizing for using a national tragedy as an excuse for paying no state income taxes, he has scheduled a Washington D.C. campaign fundraiser on the eve of the 11th anniversary of the attacks.
One Wisconsin Now Executive Director Scot Ross commented, “Rep. Petri continues to disgrace the memory of a national tragedy with his behavior.”
He continued, “First Rep. Petri used the terrorist attack as an excuse for not paying any state income taxes over four years. Now, instead of apologizing, he’s holding a Washington D.C. fundraiser to shake down the special interests he serves on the eve of the 11th anniversary of the attacks.”
In a recent news report revealing he paid no state income taxes in 2002, 2003, 2004 or 2005, a spokesperson for Wisconsin Congressional Representative Tom Petri laid the blame at the feet of 9/11 terrorists. This despite Rep. Petri consistently ranking as one of the wealthiest members of the U.S. House, reporting multi-million net worth, and earning over $600,000 in taxpayer funded salary over the same four year time period in which he paid no state income taxes.
Petri’s state income tax is emblematic of thirty years of Republican tax policy favoring wealthy investors over middle class and working families and the tax policies being advocated by Petri and the GOP presidential ticket of Mitt Romney and Paul Ryan would tip the scales even further in favor of the investment income that fuels the fortunes of the ultra-wealthy.