In Pennsylvania, the Corbett-Cawley campaign today responded to millionaire Secretary Tom Wolf’s latest lie to the media as part of his scramble to cover up the fact that his company does not pay its fair share in Pennsylvania taxes through an exploitation of the Delaware tax loophole. Wolf is now refusing to release his corporate tax returns despite definitively stating in February that he would “absolutely” release them.
“It’s another day and another lie courtesy of millionaire Secretary Tom Wolf,” stated Communications Director Chris Pack. “Clearly Secretary Tom Wolf missed the memo that you never, ever lie to the media, who serve as the guardian of public trust, no matter what. Secretary Tom Wolf is willing to stop at nothing, no matter how many lies he has to tell to the media, in his attempt to get elected.”
On Friday, when asked by WHYY NewsWorks’ Dave Davies to release his corporate tax returns to prove that he is not taking advantage of the Delaware Loophole, the Wolf campaign stated that “they are a private company and will not be making any further information available.” However, in February, when Davies asked Wolf if he would release his corporate tax returns, Wolf responded with, “yes, absolutely.”
Wolf further elaborated, directly contradicting his argument on Friday regarding their privately held status by stating, “We’re a private company but I’ll share whatever people like you want me to share – my personal tax returns, the company information, I’ll be happy to share whatever anybody wants to see, that’s been my practice throughout my business career.”
Apparently not.
Background Information
In his campaign platform, “A Fresh Start,” Wolf pledges to close the Delaware loophole.
For a link to the State of Delaware’s Certificate of Incorporation for The Wolf Holdings Organization, Inc., please click HERE.
For a link showing The Wolf Holdings Organization, Inc. being incorporated in Delaware on April 21, 2006, prior to Wolf’s partial sale of the company on May 5, 2006 to the SERS-backed Weston Presidio investment firm, please click HERE.
Below is a verbatim transcript between Dave Davies and Secretary Tom Wolf from WHYY Newsworks and the Philadelphia Business Journal 2014 Gubernatorial Forum on February 5, 2014. During this forum Wolf gives Davies his word that he will release his corporate taxes [underlines added for emphasis]. Click HERE to view the video.
Dave Davies: “It’s a convention of modern campaigns that candidates release their tax returns so that people can understand something about their personal finances. I want to ask you specifically about your family business which is an important part of your personal narrative and an important qualification in your campaign materials – the fact that you retooled and kept the jobs in Pennsylvania, that you provide health care for your employees and share 20 to 30 percent of the profits with the employees. So, my question is, are you prepared to share with the media tax returns or other documentation that will independently confirm these important details about the business?"
Secretary Wolf: "Yes, and thank you so much for giving my campaign pitch on the 20 to 30 percent, I appreciate that. Yes absolutely."
Davies: "That’s it, okay. Swell! We’ll move right along, but just to follow-up, what are you going to show us? What will tell the story? I checked the SEC, I don’t know if you filed…"
Secretary Wolf: "We’re a private…we’re a private company but I’ll share whatever people like you want me to share – my personal tax returns, the company information…I’ll be happy to share whatever anybody wants to see, that’s been my practice throughout my business career."
For more information on the Corbett-Cawley campaign for a stronger Pennsylvania, visitwww.tomcorbettforgovernor.com.
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