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* Mountain out of a molehill…
A small investment firm launched by GOP gubernatorial candidate Bruce Rauner was involuntarily dissolved by Secretary of State Jesse White last month because of what Rauner’s campaign characterized as an “inadvertent” paperwork snafu on the candidate’s part.
Gov. Pat Quinn’s campaign immediately jumped on the disclosure as proof that Rauner is “again cheating on his taxes” and is unfit to run state government, which he has said he wants to operate like a business.
Oh, please. It’s a fee. It’s not a tax.
* This is more serious, but pretty darned old. From the union-backed Illinois Freedom PAC press release…
Another Failure of a Rauner Company to Pay Illinois Taxes Discovered
Rauner’s former company, GTCR, failed to pay nearly $13,000 in taxes in 2005
Chicago, IL – Multimillionaire GOP gubernatorial candidate Bruce Rauner’s company, GTCR, failed to pay nearly $13,000 in unemployment taxes in 2005, which resulted in the State of Illinois placing a lien on the business. Rauner was a principal at GTCR from 1981 to 2012.
The news comes a day after a Chicago Sun Times report on a “clear failure” by Rauner’s current company, R8, to pay the state’s business license fee.
Ironically, Rauner released a campaign document yesterday decrying special interests that do not pay their fair share in taxes.
“It’s the height of irony for Rauner to complain about taxes when his companies have failed to pay them,” said Neal Waltmire, Communications Director for Illinois Freedom PAC. “It’s further proof that Illinois’ middle class can’t trust Bruce Rauner.”
* And from the Quinn campaign regarding Rauner’s push to reform EDGE tax credits and other government incentives to business…
DECLARES WAR ON CORPORATE WELFARE AFTER PROFITS ALREADY MADE FROM CORPORATE WELFARE
Bruce Rauner’s pamphlet also addresses the issue of corporate welfare. News reports show that Griffin and his billionaire pals have directly benefited from corporate welfare.
Not only has Billionaire Bruce’s funder-in-chief Ken Griffin directly benefited from hundreds of millions of dollars in TARP bailout money, Rauner himself, through the GTCR vulture capitalist house he helped to found and build, received millions of dollars in largesse from taxpayers.
Examples include:
* GTCR health benefits company APS Healthcare, which also is the subject of a current fraud lawsuit, has received more than $1.3 million in tax credits/rebates/grants/loans from New York since 2008. Read more here.
* The GTCR outsourcing company Zenta got $8.5 million incentive package from North Carolina in 2010. Read the story here.
* The GTCR electronic payment processor National Processing Company got $4.2 million from the Kentucky Business Investment Program in 2007 and 2010. Read about it here and here.
* The GTCR company CuraScript Pharmacy received a $1.868 million Qualified Target Industry Refund in Florida in 2003. Later that year, GTCR sells the company to Express Scripts. Read more here and here.
* GTCR medical device company Devicor received a $1.48 million Job Creation Tax Credit in Ohio in 2010 and $130,000 in other assistance in 2011 and 2012. Read more here and here.
* And speaking of that union PAC…
A union-backed political group that spent more than $3.4 million bashing GOP gubernatorial hopeful Bruce Rauner during the Republican primary is back for a second swing at him, having replenished its war chest with hundreds of thousands of dollars in recent days.
Illinois Freedom PAC, whose heavy spending was almost enough to knock Mr. Rauner out in the March 20 primary, has raised a little more than $700,000 this month, with the bulk from two unions: $325,000 from an affiliate of the Illinois Federation of Teachers, and $330,000 from the American Federation of State, County and Municipal Employees. Another $50,000 has come from the national Democratic Governors Association.
The donation represents only about a quarter of the $2.5 million in new funding the Rauner campaign received on June 11 from Chicago finance mogul Ken Griffin, but it is still a nice chuck of cash that will keep Mr. Quinn and/or his issues on TV without having to dip into his own cash pile.
Discuss.
posted by Rich Miller
Thursday, Jun 26, 14 @ 10:22 am
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This site has become a great example of why campaign finance reform can never work. It’s essentially an anti-Rauner platform, funded mostly by Dem incumbents. Repeal Citizens United and you’d just have more money flowing into sites like this through subscriptions, ads or whatever.
Comment by abc123 Thursday, Jun 26, 14 @ 10:28 am
Oh please Quinnsters. Please learn the lessons from the boy who cried wolf. If your rhetoric is OTT nuclear on every little thing, nobody will notice when something is really important. It’s a freakin fee.
Also, Quinn opponents, can you please learn how to stage these things so they don’t all get lost in one big dump.
Comment by Chicago Cynic Thursday, Jun 26, 14 @ 10:34 am
On point, given Rauner’s statements.
Is this why he said he wanted to “reform” corporate tax credits in his “Step 3″, not end them.
Would Rauner agree these credits should not have been paid to his affiliated companies? Would he end using tax credits as a tool in competing with other states for company locations?
Or is his “Step 3″ just hot air?
Comment by walker Thursday, Jun 26, 14 @ 10:35 am
abc123, are you completely blind? This site is an equal opportunity offender. Just look at today and then take a breath.
Comment by Chicago Cynic Thursday, Jun 26, 14 @ 10:35 am
The unions will go all out on this. Rauner already stated he thought “union bosses” were the problem. I expect if Rauner is elected, he will work to repeal the right of public employees to have representation, abolish prevailing wage, and make Illinois a right to work state.
If the unions don’t fight back against a candidate like that, they are asleep at the switch.
Comment by DuPage Thursday, Jun 26, 14 @ 10:41 am
“abc123, are you completely blind?”
At least exceptionally myopic and blinkered.
All that “Dem incumbent” money has really worked well for Blago and Rahm around here, right? No negative coverage of them, as incumbents.
Comment by Chris Thursday, Jun 26, 14 @ 10:42 am
- abc123 -,
Give it a half hour, the Dems will scream that Rich is hammering at a Dem about something too..
Comment by Oswego Willy Thursday, Jun 26, 14 @ 10:45 am
abc123 –
As one of the ‘Rauner’ defenders as it were, no this site isn’t anti-Rauner
It does understandably and not surprisingly considering it’s subject matter attract a state employee or two to it’s comments section.
Also I would argue not surprisingly that some of these folks are not going to be real Rauner fans. There are plenty of people who do not work for government who are also not Rauner fans.
The thing I would suggest you notice is that there are not a whole lot of Pat Quinn fans here IMHO, the may think Quinn is a better pick than Rauner but there are not a whole lot of people who seem to have the attitude of “Thank The Supreme Being you may or may not believe in we might have another 4 years of Pat Quinn”
Also as a member of the anyone but Quinn squad as it were, some of what they complain about in terms of Rauner is right on the money. But like some feel anyone is a better choice than Rauner, at this point some of us feel the same way about Quinn..
Comment by OneMan Thursday, Jun 26, 14 @ 10:50 am
Where are the great minds and high-priced talent of the Rauner campaign? Did they not do an opposition research project on their own candidate? Did they not anticipate this Quinn blowback? Just what the heck are they doing except re-packaging wax fruit and trying to convince us it’s fresh?
I really do not understand, but I’m beginning to think that the Emperor and his court have no clothes.
Comment by LincolnLounger Thursday, Jun 26, 14 @ 10:57 am
Saying “Rauner took advantage of tax credits and grants and now claims to want to fix or end them” sure sounds bad, but when you think about it, it’s the exact equivalent of saying “Quinn participated in the state retirement system for decades and now claims he was put on earth to fix it.” If there is any difference, it is that Rauner would have to answer to his investors for not taking money that the states waved at his companies while Quinn wouldn’t have had to answer to anyone if he chose to work for free all these years.
Comment by Anon. Thursday, Jun 26, 14 @ 11:05 am
It’s Thursday. Just another day. More of the same. I wouldn’t say this is an “anti-Rauner” site. It’s a neutral (enough) site with a lot of anti-Rauner sentiment. Big Whoop. There are more than a “couple” state employees here, so that’s a little disingenuous. For the most part, with few exceptions, the loyal opposition are treated with decency. It’s definitely not a Pro-Quinn site. Everyone’s laundry is fair game here. The key: don’t change clothes too often, you’ll get noticed.
Comment by A guy... Thursday, Jun 26, 14 @ 11:12 am
It’s been so long,but let us remember that Illinois has produced many government reformers, Adlai E. Stevenson, Paul Douglas, Paul Simon,Ab Mikva.
Does anyone seriously believe that Bruce Rauner is of their tradition? Is he going to try to curb the power of big business? Clean up our environment. Clamp down on utility companies which gouge consumers.
Other than crushing unions which are the only voice for working people, Rauner would allow business, and I mean business, as usual.
Workers and consumers, watch out!
Comment by truthteller Thursday, Jun 26, 14 @ 11:45 am
== nearly $13,000 ==
Golly, that’s less than the $15,770 the NRI gave to the ghost prisoner re-entry program at the day care we read about yesterday.
But yes, cue the outrage.
Comment by Formerly Known As... Thursday, Jun 26, 14 @ 12:20 pm
They (the Dems) don’t get it, and that’s why they will lose. If they are gonna throw knives, then at least throw sharp ones. It is as if the “Little Boy Who Cried Wolf” is running the Quinn Campaign. Sooner or later, somebody needs to take charge of the Quinnster’s campaign.
Come on—-“again cheating on his taxes”. This is a pitiful attempt. The Quinn Guard need to call a team meeting this afternoon, and revamp strategies. Of course, this is just one man’s opinion.
Comment by I am back Thursday, Jun 26, 14 @ 2:12 pm
Rauner may get some traction on ‘ending corporate welfare’ from non Repubs but not enough to matter because everyone knows both Q and R are inconsistent.
Let’s be honest, if private equity firms like GTCR were are evil as Quinn and Illinois Freedom PAC say, then, well, places like the Illinois Teachers Pension Plan should divest the ~ 11% of its assets in Private Equity. Quinn and the GA could pass legislation prohibiting pension plans from holding private equity.
If Quinn doesn’t like special tax deals to companies like Sears or Merc, he should veto them. If he likes them, he should do more.
Comment by bigdaddygeo Thursday, Jun 26, 14 @ 2:55 pm