May 13, 2013
Boston, Massachusetts- Massachusetts Democratic Party Chair John Walsh today said Gabriel Gomez’s newest “tax loophole of the week” is one more reason why he needs to reveal exactly how much money he pocketed by exploiting an obscure “tax scam” to give himself a more than $280,000 scam tax break.
As detailed in today’s Boston Globe, Gomez declared carried interest on his financial disclosure form in March regarding his separation agreement from Advent International. This loophole is used by the wealthiest individuals in order for them to qualify for a lower effective tax rate.
This loophole comes on the heels of last week’s Boston Globe revelation of a $281,500 federal tax deduction Gomez received on his historic Cohasset home in 2005 because he pledged not to make any changes to the exterior of the home. According to Cohasset bylaws, Gomez was prohibited from making any alterations to his house, but still claimed one of the “Dirty Dozen” tax loopholes.
“Gabriel Gomez has taken advantage of every deeply buried tax loophole he can find to lower his tax rate below the rates of hard working Massachusetts families. He claims to be a new kind of Republican, but it is clear that Gomez walks in lockstep with the Republicans in Washington who fight to protect corporate tax loopholes for the wealthy and do whatever they can to protect the wealthy from paying their fair share of taxes. The money that people like Gabriel Gomez are pocketing at the average taxpayer’s expense is outrageous, especially when this money could be used to invest in education and infrastructure. Unless Gomez starts answering questions, we are left to continue investigating what could possibly be the next loophole of the week.” said Walsh.