Dems Whack Griffin Over Anti-Tax Amendment Contribution, Griffin Responds
We reported in this morning’s The Illinoize Newsletter that Illinois’ richest person, billionaire investment guru Ken Griffin, has contributed $20 million to one of the groups opposing Governor Pritzker’s graduated income tax constitutional amendment.
This morning, the “Vote Yes for Fairness” chairman Quentin Fulks, a close Pritzker advisor, attacked Griffin for his contribution:
“Ken Griffin and his billionaire friends have collectively made more than $42 billion a week since the Coronavirus pandemic began, and yet he pays the same tax rate as our essential workers. Mr. Griffin reportedly made $1.5 billion last year, and under the Fair Tax, he would have had to pay $45 million more in taxes while 97% of Illinoisans would have seen their taxes go down or stay the same. It’s no surprise he’s now doing everything he can to protect the special deal he gets under Illinois’ current tax system. If Mr. Griffin would like to explain why he thinks it’s fair that he pays the same tax rate as our nurses and grocery store clerks, that’s a conversation we welcome having.”
If Griffin made $1.5 billion in 2019, he paid about $75 million in taxes to Illinois alone.
Fulks’ statement did not mention that Governor Pritzker, who has an estimated worth over $3 billion, has contributed over $50 million to the campaign to pass the tax increase amendment.
(UPDATED: 5:07pm)
Griffin, meanwhile, issued a statement calling for lawmakers to spend tax dollars more wisely:
“People aren’t waiting until November to vote against the economic hardship created by the Springfield’s spending addiction – they’ve been voting with their feet for the past decade as Illinois has lost more residents than any other state in the nation. In that time, two tax increases have already failed to improve our situation, and what’s now being marketed to voters under the guise of a “fair tax” is nothing more than a graduated tax scheme engineered to extract the greatest amount of money possible from all Illinois taxpayers. As we’ve seen in other states with a graduated tax scheme, everyone inevitably pays a higher rate. It’s time the Governor and Illinois legislature stop taking advantage of constituents and wasting hard-earned taxpayer dollars. It’s time for the Governor and the legislature to focus on spending our money wisely to provide for better schools, better public safely, better infrastructure and greater opportunities for all our citizens.”
The “Stop the Proposed Tax Hike Amendment” committee, the beneficiary of Griffin’s contribution, has received $100,000 contributions from Republican donors Craig Duchossois, Richard Uilehein, and Sam Zell in recent weeks.