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Moseley Braun Releases More Tax Records

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Moseley Braun Releases More Tax Records

Carol Moseley Braun on Monday tried to stave off the barrage of bad press she's received since last week and tried to offer clarification on her financial situation.

At a briefing with two of her attorneys and her accountant, the campaign released five years of personal income tax filings. 

It was 2005 when the former U.S . Senator and ambassador to New Zealand started an organic tea business.  The company has produced at least $365,000 in losses.  

"So her losses result from money that she personally invested, money she made, she paid tax on," said attorney David Schaffer.  "And then she turned around and invested in this company and it lost money."

The details of Moseley Braun's losses are part of her business tax filings.  She is not releasing, for competitive reasons, those reports.  The other major candidates, Gery Chico, Rahm Emanuel and Miguel Del Valle, have already released their taxes.  

"This is what the other candidates, Mr. Chico, Mr. Emanuel, provided.  It is the exact same level of disclosure," said Schaffer.

Adds the Chicago Sun-Times:

    The 2007 tax return Braun released Monday was different from the 2007 tax return she released last week.

    Braun’s accountant, Vivian Funches, explained that the document released last week was a “draft” that incorrectly stated that Braun declared only $216 in taxable income from a $150,333 annuity she redeemed.

As for the four loans she'd taken out on her Hyde Park home, her team explained that the mortgage loan business has changed drastically since 2008.

"Many people were able to borrow, against their homes, amounts that were well in excess of what their homes are worth today," said Schaffer.  
 

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