[mainsail that]

That includes federal and state taxes. I’m guessing he might have included state sales tax. It’s hard to see how he’d pay an AVERAGE income tax rate of 40% even in Chicago.

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Maybe, but most of his expenses are probably sales tax free. OR, he makes about $400K, something some figured out based on taxes paid. My guess is that he has one of those jumbo-mortgages to pay taken in the good old days of 2006-2007...

He’s right about one thing: the really rich, with tens of millions in income, apparently pay around 17% in total tax when averaged out. (I’m just pointing out the theoretical rate vs actual one. )

[Sooth2222]

"My guess is that he has one of those jumbo-mortgages to pay taken in the good old days of 2006-2007... "

That's my guess, too.

Treasury Secretary Timmy Geithner (and he's what Obama calls "an expert") bought his Larchmont, NY house for $1.6MM at the bubble peak.