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Why isn’t Ken Paxton releasing his tax returns?

This DMN story is actually about how Sen. Ken Paxton, currently in a runoff for the GOP nomination for Attorney General after leading the field in March, has done pretty well for himself as a lawyer since his initial election to the Legislature, but I kind of got hung up on the bit about his tax returns.

Sen. Ken Paxton

Ken Paxton was a small-town lawyer with no other business interests or sources of income before he was elected to the Legislature.

But since he joined the House in 2003, Paxton — now a Republican McKinney state senator running for attorney general — has started or become part of 28 business ventures, state records show.

They range from a cellphone tower company to an outfit that puts cameras in police cars. And his companies frequently trade in real estate.

Paxton, like other members of the Legislature, has voted on measures that could affect his personal holdings. State ethics law requires only that lawmakers avoid a direct conflict that affects their business. Many vote on measures affecting their broad industries.

Paxton said he’s become more active in trying to make money — not because he was a lawmaker, but because his family finally had the resources to invest.

“As many young professionals with children find, it’s their late 30s or early 40s before they are able to start meaningful savings for their retirement,” said Paxton spokesman Anthony Holm. “The Paxtons were this age in 2002 and were advised by one of their retirement counselors to begin one or two investments each year to allow them to responsibly plan for long-term financial security.”

Records show Paxton has a penchant for joining deals with other elected officials, usually friends in the Legislature or on the Collin County political scene. Those business opportunities with other lawmakers have had varying results. At least one went bust, costing Paxton and others more than $2 million.

Paxton has declined to say how much his net worth has grown since he joined the Legislature, and he’s refused to release copies of his federal tax returns. The state requires officeholders to list only broad ranges that their income and investments fall in, so it’s difficult to say how extensive Paxton’s business holdings are.

Wait a minute. Didn’t we spend almost the entire 2010 campaign debating whether or not Bill White needed to release every tax return he’d ever filed in his life and not just the ones he’d filed as Houston Mayor? Given Paxton’s disclosure issues and his susceptibility to getting fleeced by “Christian” con artists, you’d think he’d want to put his tax returns out there to head off questions like the ones being raised in this very story. Unless of course his tax returns would raise even more questions about his behavior, in which case the real question is why hasn’t Dan Branch made more of a fuss about this? To get a fuller idea of just how ethically compromised Paxton is, you should read Erica Greider’s devastating overview of his career. Here’s how she sums it up:

In running for attorney general, however, Paxton has continued to tout himself as a reformer. His campaign website lists “Protecting Taxpayers” as a priority issues, and elaborates: “The Attorney General plays a lead role in protecting taxpayers through investigating waste, fraud, and abuse, by reviewing and approving local bond packages, and through reviewing large state contracts.”

That would be nice. Unfortunately, there’s no reason to think Paxton would be well placed to do so if he wins. Looking over his record, he’s either surprisingly uninformed about what the state’s laws are, or surprisingly unconcerned about following them himself.

Go read the whole thing to see how she arrived at that conclusion. For an otherwise nondescript legislator who had people calling on Branch to clear the field for him after the March results were in, he’s sure got some issues.

On a side note, can someone please clarify for me what the unwritten rules are for statewide candidates and their tax returns? Sen. Leticia Van de Putte has released hers, while her fellow Senator and prospective opponent in the Lite Gov race, Dan Patrick is being criticized for not releasing his. My thought is that every statewide candidate ought to at least release a couple of years’ worth, for some value of “a couple of years”. If Democratic AG candidate Sam Houston hasn’t released a few of his tax returns I’d recommend he do so, and if he has or if he does I’d recommend he start bashing Ken Paxton about not releasing his. There’s clearly some material to work with here. BOR has more.

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One Comment

  1. PDiddie says:

    He’s taking the Greg Abbott strategy of hiding from the media. It’s worked out okay for him, after all.

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