Campaign 2010

May 04, 2010

For Jim Renacci “Tax Fairness” Means Tax Breaks For Him and His Fellow Millionaires

For hardworking Ohio families, “tax fairness” means middle-class tax relief, but for Republican Jim Renacci (R-OH) it means tax breaks for him and his fellow millionaires.  Renacci claimed to be fighting for “tax fairness” when he repeatedly went to court to avoid paying taxes on $13.7 million of income while supporting property tax increases on Wadsworth families. 

Renacci must have been following that same definition of tax fairness when he declared his support of a tax plan that would give tremendous tax breaks for millionaires like himself while raising taxes on middle-class families. Under Renacci’s plan, middle income families in Ohio would see their taxes go up by $3,663 while the wealthiest 1% in the country would get a $225,000 tax break.

“Jim Renacci is great at avoiding his own taxes and is a tireless advocate for his fellow millionaires, but his own tax plan would raise taxes for middle-class Ohio families,” said Gabby Adler, Midwestern Regional Press Secretary at the Democratic Congressional Campaign Committee.  “Fighting for tax breaks for millionaires while sticking hardworking families with the bill doesn’t just show how out of touch Jim Renacci is, it shows he has no business representing the hard working families of Ohio’s 16th district.”

BACKGROUND:

When asked what he thought was the most effective tax system, Renacci cited the Fair Tax.  “I believe the, ah, I call it the consumption tax, which is the Fair Tax, is a good model, I think it’s a fair model….So I am a firm believer in the Fair Tax.” [Ohio 16th District Tea Party/9-12 Debate in Canton, OH, 3/09/10]

Under the Fair Tax, middle income families in Ohio would see their taxes increase by $3,663 while the wealthiest 1% in the country would see their taxes cut by $225,000. [Institute on Taxation and Economic Policy, September 2004]

When it was revealed that Jim Renacci went to court in his effort to avoid paying taxes on $13.7 million in income in 2007, Renacci’s campaign responded by said he was “proud of his fight…for tax fairness.” [Cleveland Plain Dealer, 4/26/10]

At the same time Renacci was fighting to not pay his taxes on $13.7 million in income in 2007, Renacci supported three separate measures to raise property taxes on Ohio residence while serving as the Mayor of Wadsworth, Ohio.  [Cleveland Plain Dealer, 4/26/10]

 

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