* More details on Bruce Rauner’s money…
(A) spokesman says Rauner owns a stake in the Bulls as well as the Pittsburgh Steelers and Boston Red Sox.
Rauner says if he’s elected he’d put his holdings in a blind trust.
The sports teams are just his sexiest investments. Click here for the full list. His disclosure report (which is infinitely more detailed than mandated by law) shows stock holdings in British American Tobacco PLC and Imperial Tobacco PLC, Canadian Oil Sands Ltd, Education Management Group (which owns for-profit colleges), a partnership in Goldman Sachs, membership in Ken Griffin’s Citadel Tactical Trading and on and on and on and on. Tell us what you find.
The banner financial year Rauner had last year came with a cost. His tax forms show he paid $10.1 million in federal taxes in 2012, which amounted to an effective tax rate of 19 percent — a percentage still below what many middle-class families pay. Rauner paid state government $2.6 million in taxes for the year. […]
The immense wealth certainly doesn’t square with the common-man image Rauner has tried to portray to voters — that of a man who loves wearing an inexpensive watch, Wrangler jeans and Carhartt jackets, driving a “20-year-old camper van,” and toasting a rural Downstate audience with a swig of Stag beer.
But by openly putting his wealth on the table and releasing his taxes on the same day he filed his nominating petitions, Rauner moved to deprive his rivals from getting the first crack at defining him and his wealth.
I assume that Gov. Quinn will eventually demand that Rauner follow Mitt Romney’s lead and release all tax documents, not just the few pages he disclosed yesterday.
* React by two GOP opponents…
A theme of the governor’s race has been that a newcomer to politics, venture capitalist Bruce Rauner of Winnetka, has already put more than $1.2 million into his own Republican campaign for governor. And a Chicago Tribune story Monday described Rauner’s real estate portfolio, including a 6,870-square-foot home in Winnetka, two units including a high-rise penthouse in downtown Chicago, a $10 million penthouse along New York City’s Central Park, a waterfront villa in the Florida Keys, ranches in Montana and Wyoming, and a condo in a Utah ski resort. The story also noted that Rauner talks in a TV ad about his $18 watch.
Asked about that story, Dillard said he has “two kids and a mortgage.”
“I worry about how I’m going to send my children, financially, to college,” said Dillard, who also has a law practice. “And I just think when you have that much property and you flaunt it, it just shows you are out of touch with regular Illinoisans. I’ve seen these kinds of acts before in a combination of Rod Blagojevich and Dan Walker, and the people of Illinois should never let anybody buy the governorship. … It’s buyer beware.” […]
“What people tell me is they find it a bit hypocritical that you spend millions of dollars running an ad on an … $18 watch, and then you have all these mansions,” Brady said. “But you know, Bruce has earned it. He’s made a lot of money. You don’t fault anybody for living the American dream.”
Brady’s comment was right on the money. And if Sen. Dillard is that worried about sending his kids to college, maybe he should be working full time at his law firm and not running for governor. Just sayin…
* Rauner fired back…
“Why’s it bad in America to start up from a middle-class background and work really hard and be successful?” he said.
That ain’t what’s bad, Bruce. What’s wrong is that you’re a kazillionaire portraying yourself as an ordinary Joe. It’s kind of insulting to people who, unlike yourself, actually report income from wages on their tax returns.