Oct 25, 2010
Canseco Attempts to Distract from His 23% Tax Plan, Failure To Pay Own Taxes
Francisco ‘Quico’ Canseco again lashed out at the Democratic Congressional Campaign Committee for exposing his true plan for a 23% sales tax on everything Texas families buy, from groceries to farming equipment. Canseco has publicly supported the controversial ‘Fair Tax’ which imposes a 23% sales tax while, earlier this year, the San Antonio Express-News exposed that Canseco faced $715,000 in liens for unpaid taxes and fees. Democrat Ciro Rodriguez supports tax relief and Independent Craig Stephens favors dramatically reducing taxes.
“It’s unfortunate that Quico Canseco doesn’t want voters to have information about where the candidates stand but if I had his record, I wouldn’t want to either,” said Jesse Ferguson, Southern Regional Press Secretary at the Democratic Congressional Campaign Committee. “Canseco has an out-of-touch agenda to impose a new 23% sales tax on everything Texas families buy and he supports it at the worst possible time for our economy. Only a millionaire Laredo banker like Canseco could think a massive sales tax increase is a good idea and only someone this out-of-touch could lash out at the people who are exposing it. It’s an undisputable fact that Quico Canseco supports a controversial tax plan to raise taxes on the middle class and a dangerous reality that his business record is so flawed he didn’t even pay some of his own.”
According to the Institute on Taxation and Economic Policy, Canseco’s ‘Fair Tax’ will raise taxes by $3,088 on the overwhelming majority of wage earners in Texas (bottom 80% of incomes).
Canseco supports the Fair Tax. [YouTube, 8/02/10]
San Antonio Express News exposed that “Republican congressional candidate Francisco “Quico” Canseco has been slapped with more than $715,000 in federal, state and mechanics liens over unpaid payroll taxes and contracting fees since the early 1980s.” [San Antonio Express News, 7/8/10]
The Institute on Taxation and Economic Policy found that the ‘Fair Tax’ will increase taxes by $3,088 on the bottom 80% of wage earners while cutting taxes by $220,753 on the top 1% of income earners. [Institute on Taxation and Economic Policy, 2004]