For the Third Year in a Row, Connecticut Candidate for Governor, Tom Foley, Paid No Taxes

For the Third Year in a Row, Connecticut Candidate for Governor, Tom Foley, Paid No Taxes

Gubernatorial candidate Tom Foley (R-Conn.) had an effective tax rate in 2013 of $0, the third year in a row the millionaire hasn't paid taxes.  In 2010, the investor spent $11 million of his own fortune in a failed attempt to defeat Dannel Malloy for governor of Connecticut, and Foley is trying again this year.  On Friday, he showed reporters summaries of his most recent tax returns, showing that after adjustments, his tax rate in 2013 was 0%, as it was in 2011 and 2012.

The fact that the millionaire candidate can find loopholes that allow him to avoid paying taxes that working families often struggle to pay is another sign that Foley is out of touch with the people of Connecticut.  They also provide evidence as to why his policy positions are at odds with the needs of Connecticut's residents.

The Malloy campaign criticized Foley in a statement on Friday:

Tom Foley owns a multimillion-dollar mansion, two British fighter jets and a $5 million yacht, yet takes advantage of tax loopholes middle-class families can only dream about, allowing him to pay no income taxes for three years. Tom Foley lives in a different world than most Connecticut working and middle-class families.

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This has been reposted from the AFL-CIO.

Posted In: Allied Approaches, From AFL-CIO