And speaking of class warriors, Rachel Anspach has a good piece on the Republican One Percenter, Bruce Rauner, including:
Rauner’s stance on financial issues is in line with his own interests–Rauner’s wealth is estimated at $500 million. He made around $53 million in 2012 alone. And it is not clear where much of the income at his private equity firm in Winnetka came from; although he has run into criticism for his company’s deals with nursing homes, which were sued multiple times for patient neglect and wrongful death.
Although Rauner has flip-flopped on the issue, he originally stated that he was in favor of lowering Illinois’ minimum wage to the federal level of $7.25–a stance that is quite rich coming from someone who made over half-a-billion dollars in one year. Thus, his election could devastate the legislature’s current opportunity to raise the state’s minimum wage to $10.65. At the same time as he supports further squeezing the working class, Rauner wants to lower the state’s personal and corporate income taxes, and is against a implementing a graduated income tax. Increasing the minimum wage would inject more cash into the economy, as those at the bottom of the income spectrum spend most of their income. On the other hand, lowering the tax rate on the wealthy would only put more money into their pockets while increasing our state’s budget woes.
Rauner constantly touts his business experience as enabling him to address the state’s budget issues. Yet he has offered little in the way of specifics (beyond cutting taxes, which clearly will not help budget shortfalls). A state is not a company, and the Republican claim that being a CEO prepares one to run a government has become trite and tired. The purpose of government is not just to turn a profit; it is also to govern in a way that maximizes the human rights of all.
(click here to continue reading The 99 Percent in Illinois Cannot Afford Bruce Rauner as Governor – Gapers Block Mechanics | Chicago.)
Sadly, Pat Quinn, the incumbent Democratic Governor, is in real danger of losing to this Mitt Romney clone. For the sake of Illinois, I hope that doesn’t happen, but Quinn is tepid dishwater, at best, so he might very well lose.
As mentioned by Ms. Anspach above, running a company, especially a private equity firm, has next to zero similarity to running a government. You can’t just fire your non-productive citizens, sell off your troubled bridges and other assets, and make Wall Street happy. Governments don’t work that way.
You ran one of Chicago’s biggest private equity firms, GTCR, for years. How does that prepare you to be governor? Being a successful CEO, where I’ve driven a bottom line, assembled teams, driven results, that’s a critical benefit to running the state government. A CEO’s job is leadership, problem solving, and team building. I’ve done that my whole career.
(click here to continue reading Bruce Rauner Answers 13 Questions on Running for Governor of Illinois | Chicago magazine | June 2013.)