Tuesday, August 19, 2014

Deconstructing GTCR



 The tax savings shenanigans of gubernatorial candidate billionaire Bruce Rauner are getting curiouser and curiouser. The Sun-Times has revealed that not only has Bruce's personal investments in the Cayman Islands saved him mucho tax dollars at the public's expense, he's also used the Caymans for his private equity firm GTCR. Their sleuthing reveals GTCR set up a dozen investme...nt funds there between June, 2009, and July, 2011, when Rauner chaired the firm. GTCR wouldn't answer The Sun-Times inquiries about how much is invested collectively in those funds, why they are based in the Cayman Islands, whom those funds are open to, and if there are minimum-deposit requirements.

Illinois voters would normally not give a hoot about some billionaire who uses clout and power and wealth to game the tax codes to become richer and richer. They should care mightily when one of those one hundredth of one percent of the wealthiest wants to become governor to funnel more and more of badly needed state resources back to the wealthiest Illinoisans.

Maybe GTCR is a cipher that stands for Got To Conceal Rauner holdings.

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