Markey Tax Details Show He Paid 24% Rate

Photograph by Charles Krupa/AP Photo

Democratic U.S. Senate nominee, U.S. Rep. Ed Markey, D-Mass., at a campaign event in Boston, on May 8, 2013.

Democrat Ed Markey, seeking to quell attacks from his Republican foe in the Massachusetts U.S. Senate race, released some tax-return details this afternoon that showed he has paid an effective income tax rate of 24 percent going back to 2005.

Markey, first elected to the U.S. House in 1976, didn’t release his actual returns, making it impossible to see what deductions he took, how much he gave to charity or what income he had above the $174,000 annual salary that comes with his day job.

The records he did release show he made $1.2 million over 2005 through 2012 and paid roughly $288,000 in state and federal income taxes. His highest adjusted income over the period was $161,448 last year. The lowest was $140,777 in 2007.

Markey’s annual disclosure form, filed with the House clerk, show he had between $3,914 and $11,5000 in additional income last year.

Markey, competing in a June 25 special election to fill the seat Democrat John Kerry gave up to become secretary of state, has been under pressure for weeks from Republican candidate Gabriel Gomez to release tax information.

Gomez, a private equity investor and former Navy SEAL, released some income tax details during his successful primary campaign and this week offered additional information showing he made roughly $10.1 million since 2006 and paid $2.1 million in taxes, an effective rate of about 21 percent, according to the Boston Globe.

 

What do you think about this article? Comment below!