Moseley Braun Tax Returns Reflect Business Struggles
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CHICAGO (WBBM) — Mayoral candidate Carol Moseley Braun reluctantly addressed her tax returns that revealed her struggles as an entrepreneur, during an unrelated campaign appearance in Englewood on Wednesday.
Mosley Braun came to the South Side to talk about violence near 69th Street and Marshfield Avenue, where three men have been killed by gunfire recently.
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However, reporters wanted to know how she could pay her bills with a money-losing organic food business and a heavily mortgaged home.
“We did fine,” she said. “I struggled [but] I didn’t fire I anybody … I made that little business work.”
Braun paid $785 in federal income taxes on her $15,561 in adjusted income in 2009 and paid $2,509 in taxes in 2008 despite reporting an adjusted loss of $225,908, according to tax returns she released Tuesday.
In 2008, Braun reported $55,000 in wages, $17,757 in business income, $4,842 in IRA distributions and $21,988 in pensions. But she also reported a loss of $120,614 from “Rental real estate, royalties, partnerships, corporations, trusts, etc.” and a “net operating loss” of $203,702.
In 2009, she reported no wages, but took $28,237 in pension and $5,558 in business income. At the same time, she reported $17,505 in losses from “Rental real estate, royalties, partnerships, corporations, trusts, etc.”
Braun wanted to focus on stopping gun violence in Chicago. She stood on a blood-stained street where three men were gunned down and vowed to do more to stop the violence in Chicago’s gang-infested neighborhoods.