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Pritzker tax claim rated “False”

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Illinois

* JB Pritzker in the Sun-Times…

“It’s laughable that Bruce Rauner is complaining about my taxes,” Pritzker said after a Democratic gubernatorial candidates’ forum at the historic Second Presbyterian Church on the South Side. “I released way more information than Bruce Rauner has, and it’s important to recognize that unlike Bruce Rauner, who, yeah, he paid taxes, but you know how he made his money? By cutting jobs. By buying companies and firing people.”

* Politifact…

Rauner, a wealthy private equity investor, has made a practice of releasing 1040 tax forms that give just a hazy outline of his annual earnings and taxes paid. He released three years of tax returns — for 2010, 2011 and 2012 — when he first filed to run for governor in 2013 and has continued to release his 1040s every year since then. […]

The more telling information is contained in what are likely dozens or hundreds of pages of schedules, forms and supporting documents attached to 1040s that detail how investment and capital gains income was derived, business losses or gains, and deductions for charitable donations. […]

Rauner has never released those supporting materials, nor did Pritzker or Kennedy when they disclosed the contents of recent 1040s in late November. […]

When we asked what constituted “way more” on Pritzker’s returns, the Pritzker campaign pointed to a statement he also released about taxes paid by trusts of which he is a beneficiary.

Pritzker is descended from a family of wealthy entrepreneurs who launched the Hyatt Hotel chain, and his fortune is derived in part from inheritances passed down through trusts. Pritzker did not release the trust tax forms themselves, however, so there is no way to independently verify the accuracy of that disclosure.

That said, holding out the trust numbers as the evidence for more fulsome disclosure than Rauner is a curious tactic. As Rauner often points out, his fortune was self-made, he inherited no money and receives no income from trusts. In short, Rauner has made no trust disclosures because he says he has no trusts.

posted by Rich Miller
Monday, Dec 11, 17 @ 9:50 am

Comments

If the IFT is backing J.B.- hold onto your wallets. The only was to satisfy the demands of the public sector is to hose the people who pay their salaries and benefits.

Comment by Sue Monday, Dec 11, 17 @ 10:06 am
Sue

I hope you are holding on your wallets with Rauner signing HB40, a sanctuary bill, billions in inappropriated fiscal spending, and growing the bill backlog to $16 billion.

Comment by Real Monday, Dec 11, 17 @ 10:10 am
===a sanctuary bill===

Though I’m sure it’s fun to run through the list of right-wing boogeymen, the TRUST act won’t cost anything at all. And before you bother responding, please just go read it.

Comment by PJ Monday, Dec 11, 17 @ 10:16 am
To the topic. How does this issue help either candidate. Both are uber wealthy and have complicated holdings and voluminous tax returns.

Will some of the more astute commenters please address to whose advantage this “my tax return is bigger than yours” gambit favors?”
Thanks.

Comment by don the legend Monday, Dec 11, 17 @ 10:21 am
It’s not about comparing wealth. He made a claim that he was being more transparent than the governor and it turned out to be a totally false statement. His transparency thus far is disappointing.

Comment by People Over Parties Monday, Dec 11, 17 @ 10:25 am
JB has more and pays less, Rauner has less and pays more. Who do you think is smarter, who do you want in charge

Comment by Rabid Monday, Dec 11, 17 @ 10:34 am
Self made? Convicted felon Stu Levine helped. So did a federal judge which signed off on a “Bust out” saving him from a billion dollar death verdict. Rauner made his money with the help of numerous co-conspirators some might say based upon observation of facts.

Comment by Anonymous Monday, Dec 11, 17 @ 10:38 am
===“I released way more information than Bruce Rauner has, and it’s important to recognize that unlike Bruce Rauner, who, yeah, he paid taxes,…====

This almost reads like an admission that Rauner paid his and JB didn’t. He might want to phrase this better the next time.

Comment by A guy Monday, Dec 11, 17 @ 10:45 am
=== He might want to phrase this better===

Agreed

Comment by Rich Miller Monday, Dec 11, 17 @ 10:47 am
==Pritzker did not release the trust tax forms themselves, however, so there is no way to independently verify the accuracy of that disclosure. ==

And just how would you verify the accuracy of the returns if he did provide them? How do you verify the accuracy of his returns?

==In short, Rauner has made no trust disclosures because he says he has no trusts.==

How do verify the accuracy of this statement? Income from partnerships, trusts and some other sources all get lumped together on one line on the 1040, and he has a number on that line on his returns. So he could very well have trusts.

Comment by Whatever Monday, Dec 11, 17 @ 11:24 am
Rabid. I know who is not in charge.

Comment by Blue dog dem Monday, Dec 11, 17 @ 11:36 am
After many months it has become clear that JB and his staff do not know how to deal with the several tax issues he is carrying around like a weight and they do not have a workable narrative to mitigate that. Their best hope is that enough voters do not care about this–which is possible I suppose–but unlikely.

Comment by Responsa Monday, Dec 11, 17 @ 11:37 am
and J.B. made his money by… inheritance. Which is the easier route.

Comment by Anonymous Monday, Dec 11, 17 @ 11:40 am
Merry Christmas to you too, Sue.

Comment by James Knell Monday, Dec 11, 17 @ 11:46 am
“and J.B. made his money by… inheritance. Which is the easier route”

Inherited about a billion. Turned it into 3 1/2. Try to keep up.

Comment by Anonymous Monday, Dec 11, 17 @ 11:47 am
==Inherited about a billion. Turned it into 3 1/2. Try to keep up.==

A billion dollars invested in the stock market 20 years ago would have similar if not better returns than that.

Comment by City Zen Monday, Dec 11, 17 @ 12:44 pm
Easy to make $3 billion when you start wth $billion. Much harder to make the first billion. I know. I’m still trying.
but it’s good to know commenters on this site now approve of and admire wealthy people.

Comment by jim Monday, Dec 11, 17 @ 1:39 pm
One might even say that J.B. has been forced to (chuckle chuckle)…eat his words.

I can’t be the first person that ever made this joke about him, right?

Comment by ITK Monday, Dec 11, 17 @ 1:51 pm
so JB is a self made multi-billionaire now

Comment by Rabid Monday, Dec 11, 17 @ 2:01 pm
Rauner “inherited no money”?
Who got the double-wide?

Comment by 37B Monday, Dec 11, 17 @ 2:14 pm
rauner claims he has no trust, that is a trustworthy statement

Comment by Rabid Tuesday, Dec 12, 17 @ 2:26 am