No surprises in Lisa Madigan’s taxes
Wednesday, May 26, 2010
* I met with Attorney General Lisa Madigan yesterday to take a look at her tax returns. As we’ve discussed before, her campaign originally refused to release the returns, but then Madigan called and offered to let me take a look at them.
Pretty much all the income the couple reported for 2009 was AG Madigan’s state salary. Madigan’s husband Patrick has been focusing his time as a stay-at-home father and reported less than $1,000 in income from his cartoonist gig. They reported a $3,000 capital gains loss and had an adjusted gross income of just under $137,000. They paid $14,518 in federal taxes.
Patrick did much better in 2008, earning $66,880. The couple reported an adjusted gross income of $187,6612 and paid $38,432 in federal taxes. She showed me the 2007 returns as well, and they were pretty much the same. $126,656 in income for Lisa, $31,966 for Patrick, an AGR of $160,452 and $27,749 in federal taxes.
Bottom line: No surprises.
* AG Madigan’s Republican opponent Steve Kim e-mailed me his 2009 tax returns yesterday. Kim reported $69,204 in income and paid $11,314 in federal taxes. He reported income from three different sources, his law firm ($54,207 in passive income), the Korea UIC Education Group ($35,000 in nonpassive income) and S & C Corp ($20,003 in nonpassive losses).
* The Bill Brady campaign was saying this week that Jason Plummer didn’t have to disclose his income tax returns because Lisa Madigan hadn’t done it, so this story ought to be the end of the lame excuses and I am absolutely certain that Plummer will be following through soon and keeping his campaign promise to always be scrupulously transparent and accountable.