Big Paychecks, Tiny Tax Burdens: How 21,000 Wealthy Americans Avoided Paying Income Tax

[Demonaut]

Source: By Amy Bingham | ABC OTUS News



The richest woman in Wisconsin, Diane Hendricks, is worth an estimated $2.8 billion, but she did not pay a dime in state income tax in 2010, the Milwaukee Journal-Sentinel first reported.

Because of a change in how her company, ABC Supply Inc., the country's largest distributor of roofing, windows and siding, is structured, Hendricks reduced her personal state income tax burden from $2.3 million in 2009 to zero in 2010, according to records the state Department of Revenue released to the Journal-Sentinel.


A recent IRS report showed that 20,752 households that reported earning more than $200,000 in 2009 paid no federal income taxes. About 1,500 of those tax-free Americans were millionaires.

Read more: http://news.yahoo.com/big-paychecks-tiny-tax-burdens-21-000-wealthy-100029578--abc-news-politics.html;_ylt=At.ZBdfDgh43_vpZEY3Nkaas0NUE;_ylu=X3oDMTNsMDdpbDhkBG1pdANUb3BTdG9yeSBGUARwa2cDN2ZiOWU5MzUtNzQ4NS0zZDUxLWE1MzEtY2E5YWZhN2MyMmE0BHBvcwMxBHNlYwN0b3Bfc3RvcnkEdmVyAzZhOWEwOWExLWFiZDEtMTFlMS05ZGViLWIzMjRjY2FkZThlOA--;_ylg=X3oDMTFlamZvM2ZlBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

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was she the walker woman "divide and conquer" ?

[JDPriestly]

1. Yes.

Hendricks owns ABC Supply, the nation’s largest wholesale distributor of roofing, windows and siding. Hendricks had a seven-figure tax bill in four of the previous five years, the records show.

Hendricks, a financial supporter of conservative causes, and has given Walker’s campaign more than $500,000. She recently garnered attention when a documentary trailer was released that showed her and Walker discussing Republican strategies.

The video captured Walker talking about a “divide and conquer” strategy in dealing with state employee unions in his budget adjustment bill. The legislation eliminated collective bargaining for most public employee unions and touched off huge demonstrations that will culminate in a recall election next week.

http://www.postcrescent.com/article/20120531/APC010405/305310113/Beloit-billionaire-Diane-Hendricks-Gov-Scott-Walker-s-largest-campaign-donor-owed-no-state-taxes-2010

[pansypoo53219]

2. WHERE ARE JOBS, THE JOB CREATORS ARE MAKING?

i say this economy is the RESULT of the bush tax cuts. TRY SOMETHING ELSE.

[Oldtimeralso]

3. They Are Making Jobs...

for their crooked accountants.