Braun Sends Troops Out to Answer Tax Questions

By Chuck Sudo in News on Jan 11, 2011 3:15PM

At this point Carol Moseley Braun figures that personally answering any questions regarding her financial matters would provide the "drilling down" she warned the media against doing last week when she said she wouldn't answer further questions. So she had her lawyers and accountant answer questions yesterday, instead. And that team walked a fine line between transparency and legalese.

Of particular importance is how Braun is able to declare losses and minimal income, while still paying her bills (and opening campaign offices throughout the city). David Schaffer, one of Braun's attorneys, said that, since Braun's company CMB One Corp. is a partnership, "the profits and losses flow right through" to Braun. Braun drew a salary through her Good Food Organics company, reporting a high salary of $95,000 in 2007. Schaffer said Braun drew no salary in 2009 as a strategic move to put money back into the floundering business.

Braun also released her 2005 tax returns Monday. But that and the $2 million in debt incurred on mortgages on her Hyde Park home paint an incomplete picture as to the full extent of her financials. "You don't know what her financial condition is," Schaffer told reporters.

Yeah, that's why we were hoping you would be clear for her.