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Report: Griffin recouped his anti-Fair Tax spending in about a year

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Illinois

* “Some of the state’s richest people spent big to defeat a ballot initiative that would have enabled a higher tax rate on the rich. Using IRS data, ProPublica estimated how much some of the biggest backers saved when the measure failed”…

posted by Rich Miller
Thursday, Jul 7, 22 @ 9:23 am

Comments

Poor guy all he ever wanted was to be treated like a king. Proving that you can make, and spend, a boatload of money and still be miserable.

Comment by Pundent Thursday, Jul 7, 22 @ 9:30 am
Yeah, sadly for Ken, I think he’ll find moving to Miami doesn’t make him happy either.

Comment by Anonymous Thursday, Jul 7, 22 @ 9:31 am
I get the point, but I would wager that a majority of Griffin’s income is outside the state.

Comment by Ducky LaMoore Thursday, Jul 7, 22 @ 9:32 am
If the think about the absolute phonies that’s got played…

There’s a possibly of losing the ILSC in a way that makes that “wake up call loss” of the retention vote almost worth it for Dems.

Rodney Davis? Won’t see him no more…

They won the Fair Tax vote, but lose their piggy bank?

It’s not that Griffin wanted to change Illinois. It’s that Griffin wanted to control Illinois policy for his own interests.

That’s why Griffin is so “upset” he left. The control not the change factor

Comment by Oswego Willy Thursday, Jul 7, 22 @ 9:33 am
Money can provide for happiness, but it can’t buy it for some folks.

https://www.fox32chicago.com/news/how-much-money-you-need-to-make-happy-living-illinois-study

Comment by Anon221 Thursday, Jul 7, 22 @ 9:33 am
Sweeter than a rushed parking meter deal.

Comment by Roadrager Thursday, Jul 7, 22 @ 9:35 am
A penny spent is a penny saved.

Comment by Baloneymous Thursday, Jul 7, 22 @ 9:37 am
-It’s not that Griffin wanted to change Illinois-

Griffin didn’t want to pay a higher marginal rate. He’s not. Florida’s zero rate beats the great unknown.

Comment by Steve Thursday, Jul 7, 22 @ 9:41 am
Philip Friedmann certainly got a good deal too. Donating tax free to a personal foundation that then illegally backed the anti-Fair Tax campaign.

Comment by Google Is Your Friend Thursday, Jul 7, 22 @ 9:47 am
===illegally backed===

Explain please. Use your friend Google if need be

Comment by Oswego Willy Thursday, Jul 7, 22 @ 9:50 am
There really is an interesting dichotomy between the personalities of JB and KG.

Awhile back I learned of some mental health programs that exist for extremely wealthy people. People tend to think being wealthy will solve all their problems, but a funny thing happens to the psyche when all those base needs you worry about every day are no longer a concern. If not properly attended to and managed, it can cause a self-destructive spiral. One of those issues is hoarding, be it objects or money. KG seems to not have tamed that demon yet, and is stuck in the ‘always wanting more’ in every situation he is in. He’s no different personality-wise than the people who fill their houses up with old newspapers.

Watching this all unfold, I can almost say with certainty that JB has gone through some of those personal development programs, and Ken has not.

KG might have saved some money here, but he clearly is acting like he’s lost something much more valuable. I hope he can figure it out one day, as it’s a miserable way to live the one life you have. But as long as he has his current personality, he can let the door hit him on the way out.

Comment by TheInvisibleMan Thursday, Jul 7, 22 @ 9:52 am
So with an average annual income of $1.7 billion, Griffin pays more than $80,000,000 a year in state income taxes.

By contrast, JB Pritzker’s income averages about $4 million, and he’d only pay about $200,000 in state income taxes.

They’re both billionaires. Sure, Griffin is worth more than JB. But look at this and tell me who you think is paying their fair share, and who is using every loophole in the book to avoid taxes.

Comment by Taxation Thursday, Jul 7, 22 @ 9:53 am
===Watching this all unfold, I can almost say with certainty that JB has gone through some of those personal development programs, and Ken has not.===

That’s a mighty interesting thing to speculate on not only mental health but how one is going about it?

Comment by Oswego Willy Thursday, Jul 7, 22 @ 9:54 am
The money Griffin saved he wasted on utterly failed political campaigns this year. It would have been much better spent on the people of Illinois, and to further improve our financial standing.

Comment by Grandson of Man Thursday, Jul 7, 22 @ 9:55 am
So Kenny saved $51,000,000 annually. To a guy like me that seems like a lot of dough. For a guy like Kenny, it is under 3% of his annual income. Probably his decorating allowance for his new place in FLA.

Comment by Henry Francis Thursday, Jul 7, 22 @ 9:55 am
- Taxation -

Didn’t Pritzker release exactly what he paid in taxes? No speculation….

Didn’t Griffin give alleged taxes paid, but no release of any tax information?

Comment by Oswego Willy Thursday, Jul 7, 22 @ 9:59 am
=It would have been much better spent on the people of Illinois, and to further improve our financial standing.=

This has, and always will be, about what’s best for Ken Griffin. He was committed to making things better for himself, not the state. When he saw that was no longer possible he left.

Comment by Pundent Thursday, Jul 7, 22 @ 10:04 am
=So with an average annual income of $1.7 billion, Griffin pays more than $80,000,000 a year in state income taxes.=

If you sincerely believe that Ken Griffin is paying $80 million in taxes to the state of Illinois annually then I have a very large, very expensive bridge to sell you

Comment by Joe Bidenopolous Thursday, Jul 7, 22 @ 10:23 am
===Griffin pays more than $80,000,000 a year in state income taxes.===

What? No write-offs? No Goodwill, United Way, nothing?

That seems odd.

Comment by Oswego Willy Thursday, Jul 7, 22 @ 10:24 am
We have no actual idea what Grifffin paid.

Further, his donation the the museum, no tax benefit there? Even “one time”?

Comment by Oswego Willy Thursday, Jul 7, 22 @ 10:33 am
“That’s a mighty interesting thing to speculate on”

It sure is.

When you’ve participated in something like that, it’s easy to see the aspects of it being implemented by others who have learned the same things.

Choose to believe me or not, no worries. But do be aware that participating in these types of personal growth programs are fairly common among the wealthy for the simple reason that money does not buy happiness.

JB demonstrates it often during his public interviews.

KG displays the lack of that knowledge just as often in his public behavior. More specifically, KG often demonstrates having been exposed to these ideas, but has chosen to reject them because the ‘need for control’ aspect of his personality is winning.

Rauner demonstrated knowing these skills, but was tripped up in implementing them across the too large of a divide he created between his personal and public images(which is amusingly one of the things taught to avoid).

I’m not saying these things to elicit pity for the wealthy, just as an aspect of their lives that most people will never come across.

It informs the personality you will see publicly.

Comment by TheInvisibleMan Thursday, Jul 7, 22 @ 10:50 am
So OW- in the meantime- read yesterdays WSJ multi page analysis of State economies post pandemic. Illinois is going to miss Ken G. We were already in the bottom 5 of all States in terms of post pandemic job recoveries

Comment by Sue Thursday, Jul 7, 22 @ 10:56 am
=== It sure is.

When you’ve…===

It’s a bit crass to speculate on others mental health or if they’ve sought help.

===But do be aware that participating in these types of personal growth programs are fairly common among the wealthy for the simple reason that money does not buy happiness.===

I have no idea why this is a thing for this. Aren’t we warned not to be armchair psychologists?

===Rauner demonstrated knowing these skills, but was tripped up in implementing them across the too large of a divide he created between his personal and public images(which is amusingly one of the things taught to avoid).===

Or maybe Rauner was/is a bad guy and no matter what even his wife, the doctor, saw, telling us he’ll “drive us nuts”… sometimes people are just bad people in their own narcissism in that specific lens of at specific measure.

Comment by Oswego Willy Thursday, Jul 7, 22 @ 10:56 am
Oh - Sue -

Between your “I’m not coming back to comment” and still living here in Illinois, it’s difficult to take you seriously to actual facts, unvarnished and removed from your wanted reality.

=== Illinois is going to miss Ken G. We were already in the bottom 5 of all States in terms of post pandemic job recoveries===

What is the unemployment number? Is there an unemployment problem in Illinois?

How foolish is it if your concern is for Griffin yet you also stay?

I’d like to see the Griffin tax returns, as Griffin announced $130 million in charity donations “on the way out”…

Comment by Oswego Willy Thursday, Jul 7, 22 @ 11:00 am
Read thdd we article. The facts are there for you and are done by moody. The actual UE rate is a meaningless number. The issue is comparisons of job recoveries and new jobs added. You are entitled to your opinion. If you like I can join in odhominem. Not very mature

Comment by Sue Thursday, Jul 7, 22 @ 11:02 am
Taxation, One pays 5%, one pays 4.7%; so there is not much of a difference.

Comment by James the Intolerant Thursday, Jul 7, 22 @ 11:05 am
===The actual UE rate is a meaningless number===

… and yet, folks like you would say “unemployment is at ‘X’ percent, we can’t have that”

That’s my point, you, IPI, Wirepoints… even - Lucky Pierre -…

It’s not there’s disagreement where things need to change, I’ve yet to read. at any time, you pleased about anything “Illinois”

===You are entitled to your opinion.===

I asked what was the unemployment rate…

You didn’t like me asking that, it seems.

Comment by Oswego Willy Thursday, Jul 7, 22 @ 11:06 am
Sue

Aren’t you the one who’s simple mind thinks that if only everybody had Republican leadership everything would be rainbows and roses?

Comment by Demoralized Thursday, Jul 7, 22 @ 11:10 am
Can’t buy me love…..
….but sure can buy me government.

Thanks for Cit United, Supreemies.

Comment by sal-says Thursday, Jul 7, 22 @ 11:18 am
Since - Sue - won’t, I’ll close the loop, Illinois unemployment sits at 4.6%

The Federal Reserve considers a base unemployment rate (the U-3 rate) of 5.0 to 5.2 percent as “full employment” in the economy.

For Griffin, looking at the state as a place for his wants, not a policy for the state, you have to wonder how unwanted facts hurt his thoughts… so much that “crime” was Griffin’s go-to for Irvin.

Now, Griffin is leaving…

Comment by Oswego Willy Thursday, Jul 7, 22 @ 11:27 am
=Illinois is going to miss Ken G.=

Ken G. kept our taxes higher so his wouldn’t be raised. He won’t be missed.

Comment by Pundent Thursday, Jul 7, 22 @ 11:52 am
===He (Griffin) won’t be missed===

Nope. He and Rauner.

They purposely hurt Illinois. They did it because they knew as governor and a wealthy patron… they could.

Will NOT be missed.

Comment by Oswego Willy Thursday, Jul 7, 22 @ 11:59 am
“Will NOT be missed” …

The dude paid enormous sums of money in taxes to IL , provided thousands of jobs, was generous to charitable and philanthropic groups, and on his way out to Miami gave Pastor Brooks $5 Million for Project H.O.O.D - and yet you all hate him because you disagree with him - good to know

Comment by Donnie Elgin Thursday, Jul 7, 22 @ 1:05 pm
===provided thousands of jobs===

Not all the Chicago jobs are going to Florida.

The press release tells me so

===and on his way out to Miami gave Pastor Brooks $5 Million for Project H.O.O.D - and yet you all hate him because you disagree with him - good to know===

So… after some social services damaged or were forever ruined by Rauner and his patron Griffin, as long as they donate money to other things, you can overlook the societal damage done by both Rauner and Griffin.

“Good to know”

Comment by Oswego Willy Thursday, Jul 7, 22 @ 1:13 pm
=yet you all hate him because you disagree with him - good to know=

Hate is a strong word. But maybe you can tell me why the rest of us should pay more in taxes so Ken Griffin pays less? Or why social service agencies should go unfunded because Ken Griffin deems holding a budget hostage necessary? Or why police and firefighters should have their pensions cut?

The damage inflicted or intended by Ken Griffin is far greater than his tax revenue. And from where I sit there’s a whole bunch of people in this state that are better off with Ken Griffin gone.

Comment by Pundent Thursday, Jul 7, 22 @ 1:17 pm
If you are upset the person who financed a campaign to get you to vote against your best interest is leaving the state after causing so much damage and learned he can’t cause any more damage through elections…

It’s like the projection of Stockholm Syndrome, while bemoaning a man who fooled you to help him keep you down.

Comment by Oswego Willy Thursday, Jul 7, 22 @ 1:19 pm
Hate is a strong word

I despise how Griffin (and Rauner) purposely hurt Illinois.

How’s that.

Comment by Oswego Willy Thursday, Jul 7, 22 @ 1:20 pm
Money well spent. Less cash from the taxpayers for JB, Harmon, Welch, and company to waste. Also, if you trust the General Assembly to not have used the graduated tax to raise taxes on the middle class, I got a bridge to sell you. I hope Griffin spends his savings from the graduated tax’s defeat on something nice … another house or maybe a yacht. He deserves it!

Comment by Kane County Critic Thursday, Jul 7, 22 @ 1:24 pm
===taxpayers===

We’re all taxpayers, friend. Keep up.

Unless you’re in the Top 3%, you got played and still don’t realize it. Griffin thanks you.., and he still left, lol

Comment by Oswego Willy Thursday, Jul 7, 22 @ 1:28 pm
=Also, if you trust the General Assembly to not have used the graduated tax to raise taxes on the middle class=

The General Assembly can raise taxes on the middle class at any point with or without the graduated tax.

Comment by Pundent Thursday, Jul 7, 22 @ 1:39 pm
The idea that Ken Griffin or any other wealthy person opposed the graduated income tax out of personal interest doesn’t pass the smell test.
If money is the motivating issue, rich people can simply move their state domicile. Which Griffin just did and thousands of Illinoisans recently did before him.

Comment by Person of No Interest Thursday, Jul 7, 22 @ 1:53 pm
After Ken G won the campaign against the fair tax which would have benefited most the people voting against it we clearly see why Ken saw no wrong in choosing a charlatan to run for Gov. He sees that he was able to fool right wing voters then and believed he could do it again. Sue, still believes he is a hero so there goes that.

Comment by Real Thursday, Jul 7, 22 @ 2:10 pm
Since the Pritzker Amendment only received a 45% YES vote, clearly more than just “fooled” right wing voters rejected it.

Comment by Soapbox Derby Thursday, Jul 7, 22 @ 2:15 pm
=== Since===

You can fool…

See, then Irvin… not fooled.

But, you keep telling yourself you weren’t played.

Griffin left. Won, and still left, lol

Comment by Oswego Willy Thursday, Jul 7, 22 @ 2:18 pm
The article referred to secret IRS information.
Makes you wonder who in State Government or the IRS provided personal tax records to this news outlet.
Not saying they paid too much or too little in taxes, but I do believe these citizens should be granted their right to privacy to not have state or federal employees disclose tax information.

Comment by Back to the Future Thursday, Jul 7, 22 @ 2:54 pm
==The General Assembly can raise taxes on the middle class at any point with or without the graduated tax.==

As long as you have the 60-30-1 or 71-36-1.

Comment by Just Sayin Thursday, Jul 7, 22 @ 3:14 pm
===The idea that Ken Griffin or any other wealthy person opposed the graduated income tax out of personal interest doesn’t pass the smell test.===

LOL…

Shall we reflect on the “farmer” who was opposed to the fair tax and had to be “reminded” they world see their taxes increased?

Is this snark? Seriously… was this a joke?

There’s an altruism element to rich folks not wanting their taxes raised?

=== Which Griffin just did and thousands of Illinoisans recently did before him.===

… and yet that didn’t occur.

Good try, no.

===As long as you have the 60-30-1 or 71-36-1.===

Let’s not bring actual process to the angry rich folks’ phony, they won already.

:)

Comment by Oswego Willy Thursday, Jul 7, 22 @ 3:21 pm
All of you folks congratulating yourselves and declaring Illinois is better off- Tribune just reported that Ken G donated 130 million to 40 local charities to bids them over until they can figure out what to do to replace their most important benefactor. Better use of money then our Governor spending 50 million on the Republican primary. Oh what fools

Comment by Sue Thursday, Jul 7, 22 @ 3:35 pm
- Sue -

Will you be donating to any charities?

Charity starts at home.

:)

Comment by Oswego Willy Thursday, Jul 7, 22 @ 3:39 pm
=Ken G donated 130 million to 40 local charities to bids them over until they can figure out what to do to replace their most important benefactor.=

So you’re ok with paying more in taxes to make things “easier” for Ken Griffin? Cause that’s my takeaway.

And I would also point out that Ken G. was also responsible for an agenda which deprived the state of a budget and created a hole which we’re now getting ourselves out of. But billionaires being benevolent is nothing new. Where would An Ounce of Prevention be without JB Pritzker’s help?

Comment by Pundent Thursday, Jul 7, 22 @ 3:41 pm
=== Better use of money then our Governor spending 50 million on the Republican primary. Oh what fools===

Bailey *IS* the ILGOP base.

He got 57% in a 6-way race.

The fools are the ones not recognizing that Bailey IS the party, not Griffin

Comment by Oswego Willy Thursday, Jul 7, 22 @ 3:41 pm
OW. Don’t think you want to start comparing our charity donations. My wife and I help send a minority student to medical school every year. And I donated more to HP fund tgen you pay in taxes

Comment by Sue Thursday, Jul 7, 22 @ 3:45 pm
===Ken G donated 130 million to 40 local charities===

Wonder how many of those charities got stiffed during the impasse that he backed. Taxpayers were on the hook for a billion dollars in interest alone.

Comment by Rich Miller Thursday, Jul 7, 22 @ 3:52 pm
- Sue -

“Be careful that you don’t do your charitable. giving before men, to be seen by them, or else. you have no reward from your Father who is in heaven.”

Matthew 6:1

I didn’t know comparing charity was a Christian thing…

Comment by Oswego Willy Thursday, Jul 7, 22 @ 3:57 pm
Sounds like Ken Griffin was championing the cause that Sue cares about the most - wealth preservation.

Comment by Pundent Thursday, Jul 7, 22 @ 4:28 pm
Griffin got politically routed by the patriots, the GOP voters. What do he and his supporters have to say about such a strong rejection from his own party?

Comment by Grandson of Man Thursday, Jul 7, 22 @ 4:33 pm
Back to the post,

===Using IRS data, ProPublica estimated===

Here’s the thing for me;

I’m being told all these rich folks are paying all these monies (or not) with an estimation, and in same breaths I hear of billionaires not paying a dime, or paying “even less than you or me”

Until the returns are seen, even talking about folks showing “everything but the schedules”, this instance of Griffin, the man donated $130 million “now”, and in the past a museum that will now bare his name, it’s “estimates to speculation” for me, let alone the state return.

If you’re feeling like this is a piling on, we should be praising Griffin, and wholly ignoring the real actual damage Griffin and Rauner did… worry not… Griffin isn’t thinking about anyone in Illinois, never has, never will, vanity charity is still vanity, and I can appreciate the dough while recognizing the man is “what” helped Rauner hurt or ruin social services in Illinois.

Comment by Oswego Willy Thursday, Jul 7, 22 @ 5:08 pm
Now with Griffin gone, we now need to somehow get GameStop out of business (especially after today’s management shakeups), and then RobinHood to go belly up, and then our nation and economy would be better off.

Comment by Just Sayin Thursday, Jul 7, 22 @ 7:43 pm
For all those concerns about Griffin cutting all charitable ties with Illinois… if he chooses to do that, then his true colors are once again flying at high staff. Moving out of a state does not somehow limit one’s ability to donate to charitable causes. Greed and Avarice, yes. Moving, no.

Comment by Anon221 Friday, Jul 8, 22 @ 7:23 am