And Chris Shays is the first to release his tax returns for 2011. With income, taxes and the 99 percent vs. 1 percent likely to be a big part of the fall campaign, we’re waiting for returns from all the Democrats and Republicans running for U.S. Senate.
Looks like Mr. Shays may be on the bubble for the 1 percent club. His adjusted gross income was $373,694 for 2011. The cutoff for one percenters was $343,927 in 2009, according to the IRS. His gifts to charity came to $7,900. Shays’ bill was $63,438, which means he likely paid more of his income in taxes than Mitt Romney, but less than President Obama.
UPDATE: Democrat Chris Murphy reports that his return shows that he and and his wife paid $49,288.88 in taxes on $220,353 in income. That’s going to leave him well out of the running for 1 percent honors. The Murphys federal tax rate was 22.4 percent.
Campaign manager Kenny Curran also reports:
Because they did not keep complete records of their expenses, Chris and Cathy did not take any deductions other than mortgage interest and taxes paid. For instance, Chris and Cathy did not deduct their 2011 gifts to charity, though they gave to several organizations, including the United Way, the Center for Childrens’ Advocacy, and NARAL Pro-Choice Connecticut.
Murphy’s 2011 tax return is here.
The rest of Shays’ 2011 tax return is here.
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8 Responses to The Great Senate Tax Return Race Of 2012: Who Are The 1 Percenters?
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Fifth district fundraising numbers are very telling!
http://ourqueensview.blogspot.com/2012/04/first-quarter-fundraising-numbers.html
Shays looks to pad his pension
http://ourqueensview.blogspot.com/2012/04/shays-already-has-over-hundred-thousand.html
Fast loose and sneaky they all try
Hide this, move this, keep on getting by
Can’t get this past the Queen’s nose
For the truth she always knows
You can’t get much past the Queen’s eye
The Queen will discover the truth
She lives in the world of proof
Don’t ever call her bluff
She’ll unearth this liberal stuff
Follow her highness into the voting booth
It’s now the Queen’s show
She’s forgotten more than you’ll ever know
Liberals tell us to relax
As they find something new to tax
Secret service getting a blow
GSA and Secret Service have gone wild
Obama don’t care he’s only a child
Media gives Barry a free pass
Secret Service getting some ass
Barry’s the worst and that’s putting it mild
The Murphys sure are a generous couple. Absolutely no gifts to charity? But then again, who’s really surprised? he is a democrat after all.
Al Gore donated $300 bucks! Typical democrat, great at raising taxes, not paying them…quick to tell others to be gernerous, but seem to have lost their personal checkbooks.