By Mike Flannery, FOX 32 News Political Editor - bio | email
CHICAGO (FOX 32 News) -
When Fox Chicago reported exclusively on Rep. Judy Biggert's income tax returns two weeks ago, we noted that she is believed to be the wealthiest member of Illinois's Congressional delegation. Her Democratic challenger, though, is even wealthier, a point underscored in her new attack ad.
A Foster spokesman said the 11th District congressional candidate is, indeed, a multi-millionaire. But he called just about everything else in his opponent's new ad misleading. He said a theatrical stage lighting company Foster co-founded in 1975 did layoff 61 people during a downturn a decade ago, but it now employs more than ever: 650 in the U.S.
The new ad debuted as Foster released his income tax returns for the first time ever. One surprise in a review by Fox Chicago News: while preparing his campaign to return to Congress, Foster earned so little last year that he owed no income tax. His wife, Aesook Byon, also a physicist like Foster, filed her taxes separately. She made more than $200,000 in 2011. So, the couple paid about $55,000 in taxes -- 24.7% of their income.
While Foster sold his interest in the lighting company to his partners in 2007, the payout will take 16 years and be taxed at the lower, capital gains rate. In 2010, for example, Foster and his wife received a combined $1.5 million, with 18.6% their effective joint tax rate.
Other congressional candidates, too, are releasing their returns, including Rep. Robert Dold. The Kenilworth Republican released his, and called on Democratic challenger Brad Schneider to do the same.
Matt Bogusz, 26, is Des Plaines' mayor-elect, the youngest mayor in the northwest suburbs and one of the youngest city leaders' in recent Illinois history. He spoke on his plans for his town, and about the big victory.
Matt Bogusz, 26, is Des Plaines' mayor-elect, the youngest mayor in the northwest suburbs and one of the youngest city leaders' in recent Illinois history. He spoke on his plans for his town, and about the big victory.
Kelly's election is a big win for New York's Mayor Mike Bloomberg. He and others worried that the Democratic primary in February might have been won by a candidate with an "A" rating from the NRA.
Kelly's election is a big win for New York's billionaire Mayor Mike Bloomberg. He and others worried that the Democratic primary in February might have been won by a candidate with an "A" rating from the NRA.
FOX Chicago snagged the first post election interview with Obama campaign advisor David Axelrod. He was critical to Tuesday night's victory - and he gets to keep his mustache.
FOX Chicago snagged the first post election interview with Obama campaign advisor David Axelrod. He was critical to Tuesday night's victory - and he gets to keep his mustache.
President Barack Obama's Kenyan half-brother told FOX Chicago News exclusively that he's so proud, and hopes to keep with the family spirit in his own political pursuits.
President Barack Obama's Kenyan half-brother told FOX Chicago News exclusively that he's so proud, and hopes to keep with the family spirit in his own political pursuits.
Just like in 2008, many people are racing to get political souvenirs from this year's election with Obama's re-election. One Chicago store on Michigan Ave expects to see and increase in sales.
Just like in 2008, many people are racing to get political souvenirs from this year's election with Obama's re-election. One Chicago store on Michigan Ave expects to see and increase in sales.
It was a rough night for the Republican Party, not only in the presidential race, but also in three matchups in the Illinois suburbs. Illinois GOP Chair Pat Brady joined Good Day to explain.
It was a rough night for the Republican Party, not only in the presidential race, but also in three matchups in the Illinois suburbs. Illinois GOP Chair Pat Brady joined Good Day to explain.
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