Capitol - Your Illinois News Radar » Rauner attacks Pritzker for not revealing his trust fund names
SUBSCRIBE to Capitol Fax      Advertise Here      Mobile Version     Exclusive Subscriber Content     Updated Posts    Contact
To subscribe to Capitol Fax, click here.
Rauner attacks Pritzker for not revealing his trust fund names

Tuesday, Dec 5, 2017

* From the Rauner campaign…

JB Pritzker may call for higher taxes in Illinois, but what he pays might not be as big as expected.

Pritzker, whose family has a history of off shore holdings and avoiding taxes, refuses to release even just the names of his trusts.

With JB Pritzker in Springfield, Illinoisans will be paying higher taxes, but don’t expect Pritzker to be paying his fair share.

More from Rich Miller’s column ‘Rich Is As Rich Does’:

    …He refused to divulge the tax returns for those trusts (which really would be “complex”) because, his campaign claimed, other members of his extended family also benefit from those trusts. OK, fine. But how about divulging the names of his trusts? Tracking down these trusts is a difficult business because they’re shrouded in such secrecy. Names would help.

    When a politician refuses to divulge something, particularly after criticizing others for not doing so, you gotta wonder what that person is hiding.

    The Pritzker family all but invented off-shore trusts. “No family in the U.S. can copy the Pritzkers in using offshore entities to gain tax advantages,” claimed Forbes magazine back in 2003.

    In an attempt to pry Pritzker’s information loose, I reached out to Chris Kennedy’s gubernatorial campaign and asked if they would release the names of the trust funds Kennedy benefits from. They did.

    …JB Pritzker’s sister Penny, who served as President Barack Obama’s Secretary of Commerce, is mentioned in the so-called “Paradise Papers,” a massive ongoing research project into the uber-wealthy and mega-corporations conducted by journalists all over the world. Ms. Pritzker transferred shares from two Bermuda companies to a company owned by trusts that benefit her children after she was confirmed for the Cabinet post. Her family’s myriad offshore trusts were a big issue during her confirmation hearing.

    Alas, Kennedy’s decision to reveal his trust funds’ names did not move the Pritzker campaign one iota closer to disclosing the names of Pritzker’s trusts.

    This ain’t over.


- Posted by Rich Miller        

  1. - Montrose - Tuesday, Dec 5, 17 @ 9:35 am:

    oooh. A good ol’ fashioned billionaire “who avoids more taxes?” fight.

  2. - Ray del Camino - Tuesday, Dec 5, 17 @ 9:37 am:

    I don’t think Baron von Carhartt is the guy to be bringin’ this up.

  3. - Joe Bidenopolous - Tuesday, Dec 5, 17 @ 9:37 am:

    That’s rich (pun intended)

    I’m sure BVR’s holdings are all publicly known. Oh, they’re not?

  4. - HL Mencken - Tuesday, Dec 5, 17 @ 9:39 am:

    Republicans attacking democrats for being too rich constitute the “Chutzpah” award for 2017.

  5. - LUC/ND 47 - Tuesday, Dec 5, 17 @ 9:41 am:

    It used to be the standard that a candidate for a governor would release their tax returns, and would do several years’ worth. While the drumbeat for more info from Pritzker will continue, it’s absurd for Bruce Rauner to attempt to claim any high ground on this issue whatsoever.

    Rauner is not off the hook, just because he releases a list of 100 acronym-laden LLC’s and LLP’s that mean nothing to anyone and highlighting his hit on Pritzker without proper context will only serve to lower the standard for what transparency we can expect from gubernatorial candidates going forward.

  6. - cicom - Tuesday, Dec 5, 17 @ 9:42 am:

    Biss will likely re tweet this and whine further. Still waiting for your plan, Danny.

  7. - A guy - Tuesday, Dec 5, 17 @ 9:42 am:

    THE Rich Miller sure is getting quoted often.

  8. - DuPage Bard - Tuesday, Dec 5, 17 @ 9:46 am:

    LOL are you really going there? I guess we know who Rauner doesn’t want to battle in November.
    Haven’t heard a GOP attack on Biss or Kennedy in a while?
    Don’t count your chickens though
    Tick tock there is a chill in the air, winter is coming and the name is Ives

  9. - Grandson of Man - Tuesday, Dec 5, 17 @ 9:46 am:

    While we’re at it, let’s see how much money Rauner and his firm made from the public sector and collectivism he despises. That’s lots and lots of years of business.

  10. - The Crane - Tuesday, Dec 5, 17 @ 9:49 am:

    Biss’ campaign put out a new ad about JB’s tax returns. Does anyone really read them?

  11. - 47th Ward - Tuesday, Dec 5, 17 @ 9:50 am:

    Did they get permission to use your column? That’s a pretty lengthy excerpt for “fair use.”

  12. - Duopoloy - Tuesday, Dec 5, 17 @ 10:01 am:

    If an individual is using a legal means to minimize their tax burden, isn’t the beef with the US Congress or state legislature who approves the law? Why isn’t the beef with tax policy with the Congress or state legislature? Aren’t they the ones who could address the issue?

    After all, most people (including corporations) support our two-party system of legislating and enacting laws. Why not work through that system instead of criticizing law-abiding individuals?

  13. - Chicago Cynic - Tuesday, Dec 5, 17 @ 10:05 am:

    Glass House much?

  14. - SSL - Tuesday, Dec 5, 17 @ 10:05 am:

    Rauner is a disaster, but when JB talks about raising taxes on the wealthy it is fair to bring this issue up. JB is criticizing Rauner at every turn, not that it is difficult to do so. I would like to know how JB plans to increase taxes, including how the tiers of his progressive tax structure will be set. Will he include retirement income.

    Many more than the 1% will be impacted. So if JB is hiding income offshore and in complex legal entities, that’s a problem.

  15. - Chris Widger - Tuesday, Dec 5, 17 @ 10:10 am:

    ==So if JB is hiding income offshore and in complex legal entities, that’s a problem.==

    Assuming that Pritzker is complying with the tax code (which is very likely), it’s not coherent or interesting to characterize his behavior as “hiding” income.

  16. - SSL - Tuesday, Dec 5, 17 @ 10:15 am:

    Sorry about that Chris. I’ll be sure to check with you in the future.

    I meant to say that when JB says the wealthy need to pay their fair share, it is perfectly okay if he doesn’t.

    Of course some logical people might call that problematic.

  17. - Rich Miller - Tuesday, Dec 5, 17 @ 10:18 am:

    ===sure is getting quoted often===

    Rauner retweeted me twice yesterday. lol

  18. - Chris Widger - Tuesday, Dec 5, 17 @ 10:19 am:

    ==I meant to say that when JB says the wealthy need to pay their fair share, it is perfectly okay if he doesn’t.==

    That’s often a complaint levied at people like Warren Buffett when they propose tax code changes to increase revenue, and it’s always weird to me. Are you suggesting that Pritzker just voluntarily pay more than he has to and that that’s the answer to tax reform? Can taxes ever be raised by anyone?

  19. - People Over Parties - Tuesday, Dec 5, 17 @ 10:23 am:

    Pritzker’s financial hypocrisy is going to be an issue. He better get his story straight, if he can, because that’s just more easy ammo for Rauner and his Dem opponents.

  20. - Just Blocked By Rich - Tuesday, Dec 5, 17 @ 10:46 am:

    =need to pay their fair share=

    How do you determine “fair share” within legal options for a tax filings?

  21. - Not a Billionaire - Tuesday, Dec 5, 17 @ 11:02 am:

    Will Rauner release his partnership and s Corp income sources?

  22. - Jocko - Tuesday, Dec 5, 17 @ 11:05 am:

    As others have stated, Bruce might want to get the log out of his own eye. How I wish a reporter would ask about Bruce’s (not-so) blind trust.

  23. - Blue dog dem - Tuesday, Dec 5, 17 @ 3:00 pm:

    I wonder what the GOP governors candidate thinks about this. Hopefully she’ll be releasing a presser soon.

Sorry, comments for this post are now closed.

* How Jason Van Dyke's projected 96-year sentence wound up being 81 months
* Pritzker campaign official pushes back hard against latest lawsuit
* Reader comments closed for the holiday weekend
* Question of the day
* Pritzker orders "comprehensive review" of problems, opportunities at state veterans' homes
* SUBSCRIBERS ONLY - This just in...
* It's just a bill
* "Trooper's trooper" laid to rest
* RNUG: Vallas' plan "appears to make Chicago's pension problem manageable"
* Because... Chicago!
* SUBSCRIBERS ONLY - Update to this morning's edition
* What's up with this lawsuit threat?
* It's Time To Put Our Progressive Values Into Action
* Money isn't yet flowing toward Burke's challengers
* Lock up your guns and vaccinate your kids!
* SUBSCRIBERS ONLY - Today's edition of Capitol Fax (use all CAPS in password)
* Yesterday's stories

Visit our advertisers...








Main Menu
Pundit rankings
Subscriber Content
Blagojevich Trial
Updated Posts

January 2019
December 2018
November 2018
October 2018
September 2018
August 2018
July 2018
June 2018
May 2018
April 2018
March 2018
February 2018
January 2018
December 2017
November 2017
October 2017
September 2017
August 2017
July 2017
June 2017
May 2017
April 2017
March 2017
February 2017
January 2017
December 2016
November 2016
October 2016
September 2016
August 2016
July 2016
June 2016
May 2016
April 2016
March 2016
February 2016
January 2016
December 2015
November 2015
October 2015
September 2015
August 2015
July 2015
June 2015
May 2015
April 2015
March 2015
February 2015
January 2015
December 2014
November 2014
October 2014
September 2014
August 2014
July 2014
June 2014
May 2014
April 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
August 2013
July 2013
June 2013
May 2013
April 2013
March 2013
February 2013
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
August 2006
July 2006
June 2006
May 2006
April 2006
March 2006
February 2006
January 2006
December 2005
April 2005
March 2005
February 2005
January 2005
December 2004
November 2004
October 2004

Blog*Spot Archives
November 2005
October 2005
September 2005
August 2005
July 2005
June 2005
May 2005


RSS Feed 2.0
Comments RSS 2.0

Hosted by MCS SUBSCRIBE to Capitol Fax Advertise Here Mobile Version Contact Rich Miller