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* Mark Brown put it best…
Now that former Sen. Carol Moseley Braun has changed her mind and released her federal income tax returns Tuesday, we not only have a clearer understanding of why she wanted to put it off until after the mayoral election but also what may have motivated her to come out of political retirement in the first place.
Simply put, it looks like she needs a job, and these tax returns aren’t going to help her get one on the 5th Floor of City Hall.
Following in the footsteps of Bill Brady and Alexi Giannoulias, Braun neither paid nor owed any federal income taxes for either 2008 or 2009, her returns show.
* The details are scant, but the numbers ain’t good…
Braun did not release schedules or statements to go along with her 1040 forms, so it is difficult to discern many details about her financial situation.
But her 2008 federal income tax return shows she lost more than $225,000 that year, including more than $200,000 in what she called a “net operating loss,” though the source of the loss was not identified. Braun, a former U.S. Senator, state legislator and county recorder of deeds, claimed no wages in 2009.
The $15,954 she claimed as net income in 2009 appeared to be derived largely from public pensions from her former public positions.
* And the campaign wasn’t providing a whole lot of answers…
Braun aides referred questions about her taxes to attorney Louis Vitullo, a Braun friend and campaign volunteer.
Vitullo said he wasn’t prepared to answer many questions posed by the Chicago Sun-Times — including how Braun was able to borrow money in 2008 in the face of apparent financial distress — but said he would seek answers in the coming days.
“We’re pursuing any questions you have,” Vitullo said.
* I’ve heard that CMB writes some of her own press releases, which could explain the typo…
In her news release, Braun portrayed herself as an everyday Chicagoan fighting to keep her business afloat and took a shot at two of her opponents, former White House Chief of Staff Rahm Emanuel and former Chicago School Board President Gery Chico.
“The reality is that unlike Mr. Emmanuel [sic] and Mr. Chico, who traded on their government relations for vast riches when they left office, I did not,” Braun said. “My tax returns are one measure of the fight I have waged to keep my business running. It is not unlike what many small business owners and regular Chicago families are going through.”
* Back to Mark Brown for this pithy remark about Braun’s blast at her rivals…
That’s a fair point for her to make, except there is some question in my mind about how much influence on which she had to trade.
Heh.
* This isn’t the first time that Braun has found herself in hot water over her income taxes. Eric Zorn has posted an extensive archive. Go check it out…
October 15, 1992: Democratic U.S. Senate nominee Carol Moseley Braun has refused to release copies of her 1988 income tax return, seven weeks after saying she would do so to prove that she was not paid for work as a lobbyist. Braun had promised to divulge her income sources for 1988 after denying an assertion by her Republican opponent, Richard Williamson, that she did lobbying work while in public office….”I have never lobbied for anybody, and my tax returns will show that I never earned $40,000 a year for any clients outside of” those she listed, Braun told reporters on Sept. 2. She said then that she would provide copies of her tax returns for 1988 and 1989. But Tuesday, Braun said a copy of the 1988 return would not be forthcoming. She previously released copies of what she said were her income tax returns for 1989 through 1991. “You’ve got more of mine than you do of my opponent’s. That’s all you’re going to get,” Braun said. Williamson, however, has released copies of what he said were his returns for 1988 through 1991.(Tribune)
* Meanwhile, Gery Chico’s rhetoric appears sound, but his plan is a bit on the thin side…
Calling City Hall the “number one impediment to job growth,” mayoral challenger Gery Chico unveiled a comprehensive plan Tuesday to “break down the bureaucratic wall” and attract the businesses and jobs Chicago so desperately needs.
The cornerstone of Chico’s plan is the appointment of a deputy mayor for business development and job creation who would preside over a “jobs cabinet” comprised of business, labor and academic leaders.
The deputy mayor would be singularly responsible for developing short- and long-term strategies for creating jobs, restructuring city departments and reducing taxes, fees and paperwork that serve as a disincentive to business. It would start with repeal of the $4-a-month-per-employee head tax despised by business.
“I’ve heard from way too many businesses that have tried to locate or expand in the city. All they tell you is their frustrating stories of having to deal with the maze of costly rules and regulations. In many cases, they simply don’t go forward. That means we lose jobs,” said Chico, whose first city job was in the Department of Planning.
No argument about the city being too much in the face of business, but how about coming up with a quick list of the problematic rules, paperwork, etc. that he wants to get rid of?
* And Carol Marin wondered aloud today about an attorney working for Burt Odelson, who is attempting to kick Rahm Emanuel off the ballot…
Even more interesting, though, was one of the attorneys assisting Odelson. His name is Tom Jaconetty, a $135,000 top aide to recently elected Cook County Assessor Joe Berrios.
Berrios also happens to be the chairman of the Cook County Democratic Party.
So should we assume that Berrios and the party are against Emanuel? That might be a good guess, since Berrios believes Emanuel was quietly backing his November opponent, Forrest Claypool. […]
Who is paying Jaconetty’s fee to dump Emanuel? “We haven’t really discussed it,” responded Jaconetty with a smile.
Weird, that. Madigan’s guy Mike Kasper is working for Emanuel and Berrios’ guy is working for Odelson.
* Related…
* No accounting for Braun’s bungling on the issue of her tax returns
* Lone bid for Taste of Chicago not going down well
* Alderman calls for hearings on $20 Taste of Chicago admission fee
* Report questions spending by former school board chiefs
* Man Gets Ticketed While Paying For Parking
* Preckwinkle removes Turner as head of job training program
posted by Rich Miller
Wednesday, Jan 5, 11 @ 5:50 am
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There is really a small circle of election law practitioners, so it is not surprising to find some curious arrangements at times. Bottom line: most of these attorneys are interested in being paid and follow the money. Political alignments, with a few notable exceptions, are usually fluid.
Jaconetty may be one of those exceptions on account of his working relationship with Berrios. Kasper is now in private practice although he continues to perform work for Madigan. He is no longer employed by Madigan exclusively as was the case sometime ago.
Comment by Honest Abe Wednesday, Jan 5, 11 @ 6:56 am
Rich: “Weird, that. Madigan’s guy Mike Kasper is working for Emanuel and Berrios’ guy is working for Odelson.”
How about Mike Noonan and Victor Reyes working for Braun? Weird and creepy.
Comment by Lakefront Liberal Wednesday, Jan 5, 11 @ 8:00 am
Looks like Meeks and Davis just left CMB holding the bag. They probably just needed a face saving way to drop out. Now we see CMB is the weakest of the 3.
Comment by just sayin' Wednesday, Jan 5, 11 @ 8:13 am
Appoint a Deputy Mayor. That’ll fix it. Almost as good as a Deputy Governor.
Comment by Excessively Rabid Wednesday, Jan 5, 11 @ 8:38 am
well, we know this for sure, the Emanuel side is populated with the likes of Claypool and Axelrod, the trio has been together for years. They may not be hired by Emanuel, but they are with him. Like them, or not, it says something and asking the question about who the lawyers are, where they come from (Jaconetty is an insider figure) is an interesting way of looking at at the campaign.
Comment by amalia Wednesday, Jan 5, 11 @ 8:56 am
One of the first people that Berrios relieved of her duties at the Assessor’s office was Kathy Anderson, who is Mike Kasper’s sister. She was making six figures.
Comment by Anon Wednesday, Jan 5, 11 @ 9:02 am
Wonder if Danny Davis is having second thoughts. Has he actually formally filed a withdrawal?
Comment by Niles Township Wednesday, Jan 5, 11 @ 9:17 am
–That’s a fair point for her to make, except there is some question in my mind about how much influence on which she had to trade.–
Still, it’s strange that a former U.S. Senator and ambassador who is a lawyer couldn’t get on the masthead at a law/lobbying firm somewhere, just for her Rolodex.
I know back when she was Cook County Recorder of Deeds, she got some bond counsel work (not lead counsel) for non-Cook County issues. So did John Stroger when he was County Board president. They were on the Official Statements.
Comment by wordslinger Wednesday, Jan 5, 11 @ 9:18 am
The more I think about it, she really couldn’t have become a lobbyist, with anyone? As a former member, she has floor privileges in both the GA and Congress. That has to be worth something to someone.
Comment by wordslinger Wednesday, Jan 5, 11 @ 9:44 am
Is there a company that is more Whole Foods buzzword compliant that Ambassador Orgainics?
In this story
http://www.theroot.com/views/another-former-presidential-contender-goes-green
She says they are profitable, wonder if that is still true
Comment by OneMan Wednesday, Jan 5, 11 @ 9:45 am
CMB as Mayor would be a frightening prospect.
Based on the information we have now her D-2 has been prepared by a principal of a lobbying firm with an initial campaign chest of 1,000.00. Through Oct 10 the committee reported new income of 55,425 and spending of just under 17,000. What is their interest in running an unimpressive candidate?
Who would the real Mayor be? CMB seems to be unable to show up for events that are being organized for her now. How could she govern? How would she run her ‘business’?
Comment by Plutocrat03 Wednesday, Jan 5, 11 @ 9:55 am
If city hall is “the biggest impediment to job growth”, wouldn’t that tarnish Chico’s record working in city hall?
Comment by matt Wednesday, Jan 5, 11 @ 10:10 am
I think I see the bigger picture here. Braun obviously wants to become mayor to force her healthy organic food into Chicago public schoolchildren’s lunches. CMB has become a hired gun in Michelle Obama’s war on my french fries.
Comment by Small Town Liberal Wednesday, Jan 5, 11 @ 10:23 am
Matt @ 10:10,
Chico’s easy counter-argument would be that City Hall became the problem after he left.
So it’ll be Rahm and ??? in the runoff? I’m guessing Chico.
Comment by Northsider Wednesday, Jan 5, 11 @ 10:24 am
I think all candidates should have to show a matching revenue stream when they propose a new Deputy Mayor with new positions below that, 250 new police officers (which may or may not be able to be paid for with TIF funds but even if it is covered under TIF that only covers one year), etc. The new mayor will need to cut jobs, cut spending, and raise taxes. Any candidate who says he doesn’t have to is not being truthful.
Comment by Jim Wednesday, Jan 5, 11 @ 10:35 am
Rich deleted my comment from two days ago wrongly…that there was a reason why Carol “Mo’Money” Braun wanted to keep her tax returns hidden is that she has a problem handling money which led to her losing her US Senate seta in a crushing by Peter Fitzgerald. She hasn’t learned obviously from her past mistakes and it looks like her finances are a lot worse now to which Chicago would be strongly advised to avoid this woman at all costs.
Comment by Segatari Wednesday, Jan 5, 11 @ 11:04 am
If Carol Moseley Braun had opted to remain the Recorder of Deeds rather than trying to become a superstar, she would probably have been reelected indefinitely. At first glance, here career vita looks impressive, but upon closer examination one realizes that she never really accomplished too much in any of her positions. I cannot think of a single case that she handled as an Assistant US Attorney. When she was Mayor Washington’s floor leader in the General Assembly, she was routinely ignored.
The thought of Braun as mayor is frightening. I am puzzled as to how the leaders of the black political community settled upon her as their strongest possible candidate. It makes no sense.
Comment by Honest Abe Wednesday, Jan 5, 11 @ 11:15 am
CMB=OOHL, LOL
Comment by dupage dan Wednesday, Jan 5, 11 @ 11:31 am
Apparently, CMB is an empty skirt in need of regular income. Maybe she should drop out and help one of the top contenders and be in the running for a city job so she can pay her taxes, debts, and other financial responsibilities that grown ups have, or she could just go away…that would be ok with me as well…
Comment by Loop Lady Wednesday, Jan 5, 11 @ 11:48 am
It is simply stunning that CMB could not parlay her celebrity and uniqueness of being the first AA woman senator into something more than she has. The great perk about being in politics at a high level is your ability to turn that into money via corporate boards, speaking gigs, etc. The one caveat is that you must keep your reputation (sort of) clean. I hate to say it but she must be dumber than she seems.
Comment by paddyrollingstone Wednesday, Jan 5, 11 @ 12:13 pm
Sorry forgot to add this - After she was elected and in office a few years, I told some supporters that she proved that you can be an AA female trailblazer and still be a hack.
Comment by paddyrollingstone Wednesday, Jan 5, 11 @ 12:16 pm
Why wasn’t Patricia Van Pelt-Watkins’ name in the mix with CMB and Danny Davis when a ‘consensus’ candidate was chosen? She probably wouldn’t have won, but neither will Moseley-Braun, and she would not be the embarrassment that Moseley-Braun is. She has a great personal story, and it would have increased her name recognition for future races. This ‘consensus’ business smacks of insiders trying to help CMB pay off her previous campaign debts.
“One of the first people that Berrios relieved of her duties at the Assessor’s office was Kathy Anderson, who is Mike Kasper’s sister. She was making six figures.”
Which family member did he give the job to?
Comment by SR Wednesday, Jan 5, 11 @ 12:57 pm
How is Jaconetty allowed to rack up those hours? Aren’t County employees supposed to keep the hours down so it does not have pension or work implications?
Comment by amalia Wednesday, Jan 5, 11 @ 1:13 pm
How did CMB get to be the “consensus” black candidate? BECAUSE THE OTHER CANDIDATES (Meeks, Davis) WERE EVEN WEAKER THAN HER. That is the really scary reality here.
Comment by Lakefront Liberal Wednesday, Jan 5, 11 @ 1:30 pm
Dorothy Brown, this was your year! LOL.
Comment by Honest Abe Wednesday, Jan 5, 11 @ 1:31 pm
The media should be giving her the same amount of coverage they are to the other marginal candidates, she really brings nothing more to the table.
Comment by Lincoln Parker Wednesday, Jan 5, 11 @ 1:59 pm
–The media should be giving her the same amount of coverage they are to the other marginal candidates, she really brings nothing more to the table.–
Get serious. How many were a U.S. Senator, ambassador, county-wide elected official, assistant U.S. attorney and Harold’s voice in the GA?
Like it or not, that’s her resume and that’s why she gets the attention.
Comment by wordslinger Wednesday, Jan 5, 11 @ 2:28 pm
==How many were a U.S. Senator, ambassador, county-wide elected official, assistant U.S. attorney and Harold’s voice in the GA?==
That’s an interesting employment record, but how effective was she in any of those positions? And when she went back into private life, how successful has she been in starting and running a profitable business?
No, I believe the leaders of the black community deserve the ‘John McCain’ award for picking the worst possible candidate (also Roland Burris before her). She’s Chicago’s version of Sarah Palin.
Comment by Wensicia Wednesday, Jan 5, 11 @ 4:18 pm
Wen, that was in response to a post that said she should receive the same amount of attention as “other marginal candidates.”
I’m quite certain that no other candidate for Chicago mayor, ever, has had that kind of resume. So marginal, she is not.
Comment by wordslinger Wednesday, Jan 5, 11 @ 4:29 pm
Word, I agree, she’s hardly marginal, but is she a wise choice for a consensus candidate, with the baggage she’s carrying? She can’t hide behind her race or gender like was once possible. Nor can she control her arrogance.
Comment by Wensicia Wednesday, Jan 5, 11 @ 5:01 pm
@amalia - If the County is paying Jaconetty as CoS for the County Assessor, he shouldn’t be spending ANY time at the BoE on petition challenges. Anybody know when Jaconetty hit the new payroll?
Comment by Indeedy Wednesday, Jan 5, 11 @ 7:20 pm