Capitol Fax.com - Your Illinois News Radar

New Rauner digital ad goes after Pritzker’s off-shore banking: “Hide your money in the Bahamas!”

Posted in:

Illinois
YouTube
Updated Posts

* It’s not yet running on Facebook, and the ad is currently unlisted on YouTube [Update: It’s now listed], but commenters have said in the past that the Rauner campaign has been all over Hulu…

Today, the Rauner Campaign is launching a new digital ad titled “JBahamas Bank.”

Working with its sister company, “Pritzker Plumbing Inc.,” JBahamas Bank serves people who want to dodge taxes by keeping their money in offshore accounts, just like JB Pritzker.

The Chicago Tribune reported that Pritzker set up several shell companies between 2008 and 2011, some of which are based in the Bahamas. Despite Pritzker’s claims that his offshore dealings are “only providing charitable contributions,” JBahamas Bank is hard at work behind the scenes managing Pritzker’s business dealings and helping him dodge taxes in the beautiful sunshine of the tropics.

* The ad…

* Script…

You work hard to provide for your family. Saving for a house in a good neighborhood. Budgeting for a summer vacation, or maybe a new car. But just think what your budget would be if you avoided paying taxes!

Well, at JBahamas Bank, we can help Illinois families like yours! We’ll hide your money offshore, far from the IRS, on the sandy beaches of the Bahamas, just like JB Pritzker did. And considering our man JB’s plan to raise taxes on every family in Illinois, there’s no better time to open an account than today

Hide your money in the Bahamas!

posted by Rich Miller
Monday, Sep 24, 18 @ 9:33 am

Comments

People in glass mansions shouldn’t throw stones.

Comment by Honeybadger Monday, Sep 24, 18 @ 9:37 am
A smiling, brightly lit JB juxtaposed with images of tropical vacations and happy families.

Comment by Arsenal Monday, Sep 24, 18 @ 9:39 am
Okay, this is pretty hilarious and clever.

Comment by Political Guru Monday, Sep 24, 18 @ 9:40 am
Everything about this makes JB look delightful and fun. I’ve never seen better images of him.

Nothing left in the tank at Camp Rauner.

Comment by lakeside Monday, Sep 24, 18 @ 9:44 am
I don’t understand this at all. Clearly, BTIA(TM) is not aware of the “sound off” test for spots.

You’re supposed to make the target look sinister. This looks like a Disney Resort family vacation spot.

Comment by wordslinger Monday, Sep 24, 18 @ 9:48 am
The spot comes across more like an SNL spoof commercial than a serious campaign ad.

Comment by Cubs in '16 Monday, Sep 24, 18 @ 9:49 am
That is the best ad to get me to vote for JB that I have seen. The American dream is to one day be rich enough to not have to pay taxes.

Comment by The Real Captain Monday, Sep 24, 18 @ 9:50 am
GovJunk keepin’ the fact checkers busy. Likely to be another “false” decision. Works nicely with the continued drum beat of lies and failures. BTW GovJunk talkin’ about bankin’ reminds all of his work in Georgia where he ran bank with so many subprime loans they went bust BEFORE the ‘08 depression was given to u by Bush-Cheney.
As campaign strategy this is shear genius.

Comment by Annonin' Monday, Sep 24, 18 @ 9:51 am
I frankly don’t care if JB keesters his money.
My issue is Rauner
Making more investment income
His first year in office
Than he did before office
How does that work?
Blind trust my keester.
Pinstripe patronage
No bid contracts
Sure help stick prices go up.
Oh and securing EDGE deals with
A non foia
For profit Intersect illinois
Sure hides your
Financial tracks

Comment by Honeybear Monday, Sep 24, 18 @ 9:51 am
Never thought I’d see a creepier sun than the one on that Teletubbies show until now.

Comment by City Zen Monday, Sep 24, 18 @ 9:52 am
My guess is after this rolls out on TV, the top search term on Google will be JBahamas Bank.

Who wouldn’t like to get in on that too?

Comment by Streator Curmudgeon Monday, Sep 24, 18 @ 9:53 am
I’d put this one in the same category as JB’s costume attack ad on Rauner. It’s funny to political insiders, but does it resonate with regular folks who are only paying half attention?

And I don’t think the “he’s richer than me” line- of-attack works all that well for Rauner.

Comment by Roman Monday, Sep 24, 18 @ 10:02 am
A lot of people don’t care that JB had $15 million dollars in taxable income in 2016 from his 3.4 billion dollar fortune and Bruce Rauner earned $91 million in 2016 and paid an effective tax rate of 26% because JB will keep the Madigan agenda in place.

Does anyone think JB paid an effective tax rate of 26%?

Comment by Lucky Pierre Monday, Sep 24, 18 @ 10:06 am
===A lot of people don’t care that JB had $15 million dollars in taxable income in 2016 from his 3.4 billion dollar fortune and Bruce Rauner earned $91 million in 2016 and paid an effective tax rate of 26% because JB will keep the Madigan agenda in place.===

If any of that jibberish makes any sense, the takeaway is what monies *both* make doesn’t matter… and the taxable rates don’t matter too.

So I’ll expect you to stop talking about Pritzker not paying any state income tax.

Thanks.

Comment by Oswego Willy Monday, Sep 24, 18 @ 10:12 am
It’s a funny ad. Doesn’t make me mad or upset he does it, makes me chuckle.
Wish I had his accountant.

Comment by DuPage Bard Monday, Sep 24, 18 @ 10:14 am
It’s cute. It completely ignores the $154 million his trusts paid in Federal and State taxes, but hey, why should anyone let the facts get in the way during campaign season.

Oh, and it just doesn’t work for Governor Payton Prep. Like sports, politics is all about the matchup and because of Rauner’s own issues and offshore accounts and multiple homeowner expemption, etc, this matchup on this topic is at worst a wash for JB.

Comment by Anon0091 Monday, Sep 24, 18 @ 10:25 am
Oh, and here’s the link for LP to remind himself of before going off half cocked.

http://www.chicagobusiness.com/article/20171127/BLOGS02/171129925/pritzker-kennedy-lift-veil-on-their-tax-returns

Comment by Anon0091 Monday, Sep 24, 18 @ 10:26 am
Tax rates don’t matter for JB Pritzker because his billions are stashed in the Bahamas. No wonder he has no problem raising tax rates.

Tax rates matter very much for businesses and people as far as determining where they want to live and where businesses want to invest and expand their workforces.

Pretending otherwise is nonsense

Comment by Lucky Pierre Monday, Sep 24, 18 @ 10:30 am
Complete non-sequitur LP, but thanks.

Comment by Anon0091 Monday, Sep 24, 18 @ 10:36 am
This report is much more detailed

“Pritzker, an heir to the Hyatt hotel fortune and entrepreneur, released three years of partial tax returns that showed the candidate and wife Mary Kathryn nearly quintupled their income from 2014, when they had a federal adjusted gross income of $3.1 million, to $14.95 million last year. The couple paid $4.1 million in federal taxes for 2016.”

JB is one of only 17 billionaires in Illinois and somehow had only $3.1 million in taxable income in 2014 before he was a candidate?

That sure is some gibberish that doesn’t make sense.

http://www.chicagotribune.com/news/local/politics/ct-met-illinois-governor-candidate-filing-20171127-story.html

Comment by Lucky Pierre Monday, Sep 24, 18 @ 10:39 am
==Complete non-sequitur LP==

As opposed to any other comments he makes?

To the post -

The ad falls flat with me because it’s one rich guy attacking another rich guy. It’s silliness.

Comment by Demoralized Monday, Sep 24, 18 @ 10:47 am
Am I and honeybear the only ones who’ve noticed that Rauner made more money when Illinois had more debt, and less money when Illinois had less debt,and Rauner has done and proposed nothing to get Illinois out of debt?

Comment by Hottot Monday, Sep 24, 18 @ 10:55 am
Not sure if you’re being deliberately obtuse LP or you genuinely don’t understand.

Comment by Anon0091 Monday, Sep 24, 18 @ 11:03 am
“Lucky Pierre”, LOL

Rauner has made more money the years in office then leading up to being governor, including secret back porch deals.

You keep wanting transparency, where’s Rauner’s?

Comment by Oswego Willy Monday, Sep 24, 18 @ 11:04 am
Good message for middle class undecided
voters. Shows that the GOP can engage in us vs. them income inequality ads as well as the Dems.

Comment by Texas Red Monday, Sep 24, 18 @ 11:05 am
==The ad falls flat with me because it’s one rich guy attacking another rich guy. It’s silliness.==

That’d be true Demoralized if the rich guy hiding his money from taxes wasn’t the same one pushing tax hikes.

The whole “we need to raise taxes on people like me” thing is a little disingenuous when you see he’s actually dodging his fair share.

Comment by ANON Monday, Sep 24, 18 @ 11:07 am
Dead vets, lying to the Cardinal, calling Ives “Madigan’s favorite republican”, sanctuary state, lying about multiple issues, Village People costumes, claiming the judiciary is corrupt,dropping g’s, years without a budget and claiming victories for legislation passed over your veto have all contributed to his current polling numbers. Rauner is an epic failure. He still doesn’t answers questions. What’s more likely, a second term or the humiliation of coming in 3rd? Conservatives aren’t going to vote for him and moderates are going blue.

Comment by Trapped in the 'burbs Monday, Sep 24, 18 @ 11:11 am
When will JB start to pay his fair share instead of just paying lip service?

He says he reinstalled the toilets, when will he repatriate his billions from the Bahamas to Illinois?

What am I missing here? Another hypocritical liberal billionaire who thinks he can just talk about paying his fair share while doing the exact opposite.

Comment by Lucky Pierre Monday, Sep 24, 18 @ 11:19 am
Very upbeat ad that makes me want to do business with this bank. Not sure it had the desired effect.

Comment by Barrington Monday, Sep 24, 18 @ 11:33 am
The Mike Madigan as Mr. Sunshine cameo at the end is cute.

Comment by Grand Avenue Monday, Sep 24, 18 @ 11:53 am
===Another hypocritical liberal billionaire who thinks he can just talk about paying his fair share while doing the exact opposite.===

Meh.

Worked for Bruce Rauner, lol

Comment by Oswego Willy Monday, Sep 24, 18 @ 12:15 pm
–…when will he repatriate his billions from the Bahamas to Illinois?–

Pritzker has “his billions” in the Bahamas? Could you provide a source for that?

I mean, a guy like you, wouldn’t just make it up, right?

Comment by wordslinger Monday, Sep 24, 18 @ 12:31 pm
Premium Hulu and premium YouTube is worth it folks.

Comment by Precinct Captain Monday, Sep 24, 18 @ 12:35 pm
=That’d be true Demoralized if the rich guy hiding his money from taxes wasn’t the same one pushing tax hikes.=

The tax code requires US citizens to pay taxes on foreign investments and wages.

If you have proof that this is not happening please provide that evidence. Until then, you, LP, and Rauner can take a nap.

Comment by JS Mill Monday, Sep 24, 18 @ 12:38 pm
Lucky Pierre @ 10:26 == lot of people don’t care that JB had $15 million dollars in taxable income in 2016 from his 3.4 billion dollar fortune==

I’m still wondering where anyone is getting their numbers for JB’s wealth. As I’ve said before, I suspect that the vast majority of his income comes from trusts created by the family patriarch, which he has no control over. This suspicion is supported by the Crain’s article linked by Anon0091, which says the big variation in his taxable income over the years was from the line on the form that includes trust income, and which also contains JB’s statement that his trusts paid a lot of taxes over the years. A link in a post the other day included the SEC statement about stock in Hyatt, where the voting rights are controlled by the Pritzkers, and included language from a court filing that was made by other Pritzkers acting as trustees, again indicating a trust. Property in a trust does not belong to JB, and it isn’t controlled by him unless he is a trustee (and even then he has to follow the trust document), and he only gets the income the trust document says he gets. Any income that is distributed to the beneficiaries is taxed to them, any income that is retained is taxed to the trust.

All this tells me that JB has a lot of income, but nothing like the $3 billion in wealth. This would explain why he is so silent about his income and wealth and the Hyatt labor dispute — everything is in a trust he did not create and does not control, and he is living on gifts from daddy plus some of his own investments from those gifts. Does not look good.

Comment by Whatever Monday, Sep 24, 18 @ 12:41 pm
The only thing this makes me think is Rauner is hiding his money somewhere too.

It’s what lawyers and accountants for rich people do.

Comment by Cheryl44 Monday, Sep 24, 18 @ 12:50 pm
===All this tells me that JB has a lot of income, but nothing like the $3 billion in wealth===

He claims that the inherited wealth stored offshore is used to fund his charitable giving. He has said he doesn’t repatriate the money as personal income. He does use the money to invest in US companies, however (that boat company, for one).

But he also hasn’t released enough tax info to completely verify the claims. Although it seems likely, considering the taxable income he’s reported.

Comment by Rich Miller Monday, Sep 24, 18 @ 12:51 pm
When you make up fake names in your ad, you are also more likely to make up fake data and claims. Snarky frat boy humor does not sway me.

Comment by Jibba Monday, Sep 24, 18 @ 12:57 pm
Well, I mean… Why not?

Comment by Hynes Guy Monday, Sep 24, 18 @ 1:01 pm
Unless i missed one, this is the first ad I’ve seen where rauner targeted people outside what should be his base. The new republican party obviously dont care where thier candidates “taxable” income or investments are located, so this can’t be aimed at them.

Comment by Anonymous Monday, Sep 24, 18 @ 1:35 pm
===outside what should be his base===

Meh. People will conveniently forget about their ideological principles when partisanship takes over.

Comment by Rich Miller Monday, Sep 24, 18 @ 1:37 pm
“When will JB start to pay his fair share instead of just paying lip service…”

Still missing the whole his Trusts paid $154 million in taxes plus the millions he paid in personal taxes, aren’t you. So yea, I’ll go for deliberately obtuse as an answer to my question from earlier.

Comment by Anon0091 Monday, Sep 24, 18 @ 2:46 pm
===All this tells me that JB has a lot of income, but nothing like the $3 billion in wealth===

That’s the Forbes estimate. I don’t think I’ve heard any of the Pritzkers beef about the estimates.

https://www.forbes.com/profile/jay-robert-jb-pritzker/#734df6341224

Comment by wordslinger Monday, Sep 24, 18 @ 3:24 pm
I would be more concerned if the rich guys running for office did not use legal tax breaks to pay less taxes than if they did not. I want them to use that same approach when governing our state. Looking for ways to save money.

Comment by Groucho Monday, Sep 24, 18 @ 3:28 pm
Groucho.looking for ways to save money. Me too.

Comment by blue dog dem Monday, Sep 24, 18 @ 7:41 pm