On Thursday, the Housley for Senate campaign released a new advertisement entitled “The Good Life”. The ad, which calls attention to Tina Smith’s hypocrisy, is the campaign’s fourth broadcast spot of the election cycle.
“For Tina Smith, politics really is the good life. She personally benefits from the very same things she rails against politically – and that self-serving interest isn’t how we do things here in Minnesota,” said Karin Housley, Republican nominee for U.S. Senate in Minnesota’s special election. “Throughout Tina Smith’s decades-long political career, she has consistently demonstrated a willingness to leverage political issues into personal gains – and that’s not right.”
Tina Smith profited from the opioid crisis.
As Tina Smith claims to take on ‘Big Pharma’, financial disclosure form shows she and her husband own between $250,000 and $500,000 in stock for Abbott Laboratories, which was one of the leading marketers of the powerful opioid Oxycontin.1 Through its agreement with Purdue Pharma, and its use of aggressive and misleading sales tactics, Abbott Laboratories became a major contributor to the opioid epidemic ravaging our communities.
Tina Smith supported the highest tax hike in state history.
During Tina Smith’s seven years in the governor’s office, the administration proposed the biggest tax increase in state history.2 Smith’s proposal would have raised almost $4.2 billion in new revenue by raising taxes on Minnesotans’ income and more.
Tina Smith hid her money in a Bermuda tax shelter.
While Tina Smith has called for closing corporate tax loopholes that allow businesses to “shelter income”3,4, her financial disclosures show an investment between $500,000 and $1 million in a hedge fund called the Pine Grove Offshore Fund, a notorious tax haven located in Bermuda.5 According the U.S. Public Interest Research Group, Minnesota ranks sixth in annual income tax revenues lost to tax havens, losing almost $2 billion annually.6
Housley continued: “Tina Smith manufactures political outrage at the same time she cashes in on her stock dividends, advocates for a massive tax increase, and hides her money in offshore accounts. I don’t know what they call that in Washington, but in Minnesota, we call it hypocrisy.”
You can watch the full ad by clicking here.
1 Wegmann, Philip. “Sen. Tina Smith Condemns Drug Companies but Invests More than a Quarter Million in Them.” Washington Examiner. August 03, 2018. Accessed October 18, 2018. https://www.washingtonexaminer.com/opinion/sen-tina-smith-condemns-drug-companies-but-invests-more-than-a-quarter-million-in-them.
2 “GOP, DFL Leadership Reacts to Gov. Dayton’s Budget.” The UpTake. February 15, 2011. Accessed October 18, 2018. http://theuptake.org/2011/02/15/gop-leadership-reacts-to-gov-daytons-budget/.
3 “FACT SHEET |Closing Corporate Tax Loopholes.” 2017 Budget for a Better Minnesota. May 1, 2017. Accessed October 18, 2018. http://mn.gov/gov-stat/pdf/2017_01_04_FINAL_corporate_tax_reform_fact_sheet.pdf.
4 “Governor Mark Dayton and Lt. Governor Tina Smith Propose Tax Cuts for Over 450,000 Minnesotans.” Office of Governor Mark Dayton and Lt. Governor Tina Smith. January 07, 2017. Accessed October 18, 2018. https://mn.gov/governor/newsroom/?id=1055-270175.
5 Scher, Brent. “Dem Senator’s Husband Has $1 Million in Bermuda Hedge Fund.” Washington Free Beacon. August 27, 2018. Accessed October 18, 2018. https://freebeacon.com/politics/sen-tina-smiths-husband-1-million-bermuda-hedge-fund/.
6 “The Hidden Cost of Offshore Tax Havens.” January 2013. Accessed October 18, 2018. https://uspirg.org/sites/pirg/files/reports/USPIRG_State_Tax_Havens_0.pdf.