Posted on 10/16/2004 7:55:27 AM PDT by libs_kma
Heinz Kerry Hiding $45 Million in Income, Paid Just 1.2% in Taxes
Teresa Heinz Kerry earns approximately $50 million in annual income, ten times what she revealed on tax forms released late Friday, according to the New York Times.
The staggering sum generated a mere 1.2 percent federal income tax liability, unless Heinz Kerry paid additional federal taxes not shown on the forms released Friday.
The average middle class American family pays 20 percent of their income in taxes, a rate 16 times higher than the would-be first family.
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Noting that the Kerry campaign has not challenged an estimate earlier this year that Heinz Kerry's net worth is close to $1 billion, the Times said Saturday, "Even a modest 5 percent return would have generated $50 million of income." Tax forms released Friday show she paid a puny $628,000 in income taxes. While that figure represents 12.3 percent of the $5 million annual income disclosed on the documents, that number would decline to 1.2 percent when calculated against the Times' income estimate for Heinz Kerry.
The $45 million in income not disclosed by Heinz Kerry was likely derived from Heinz family trusts that benefit the would-be first couple.
Portions of Heinz Kerry's tax return not made public would detail her personal investment accounts, accounts controlled by the family trust and any offshore investments she controls, the Times said.
Financial experts cited by the New York Post on Saturday said that the Kerry family's reported $5 million annual income wouldn't come close to covering their lavish lifestyle, which includes five estates, multiple cars, a $3.5 million Gulfstream V jet complete with plasma TV, gold fixtures and two bathrooms, a yacht worth $750,000 to $1 million and servants in every location.
Tax forms released Friday show she paid a puny $628,000 in income taxes. ...
...a yacht worth $750,000 to $1 million ..."
She paid less in taxes than her yacht alone is worth. Quite odd I'd say for someone who's running around talking about others paying their "fair share."
"Geeves, bring the car 'round..No not the Bently today. I'm feeling saucy make it the Rolls. And Geeves, don't forget to bring the Grey Poupon like your predecessor."
And they want those who worked hard for their money to have to give most of it up to provide free abortions for those who don't want to work. Socialists --- but aristocratic socialists who believe they should not have to part with any of their inherited wealth but should be allowed to sock it to those lowly types --- the serfs --- who do have to work.
And she hasn't released everything, either.
Is this information in the major newspapers, or are they conveniently not reporting it? I want all of the downtrodden poor liberals to read this. Why was it in Newsmax instead of the NYTimes.
Of course it's all Bush's fault...if he hadn't passed that tax cut for the rich Tereeza would be paying her fair share. </sarcasm
BUMP IT!
It could be a LOT worse than this. The above figures are predicated on a 5% return on $1 billion. However, the L.A. Times estimated her worth at between $0.9 billion and $3.2 billion, in a recent article.
Let's be fair for the moment and take the middle figure, here, $2.1 billion. Five percent return (what would you like to bet it's higher than five) on $2.1 B is about $100 million. Now I've heard that some of her loot is locked up in tax-exempt securities (education and other various state/municipal bonds, I guess), but not THAT much.
Folks, I'd put her income closer to $100 Mill than $50 Mill.
John Kerry filed a Massachusetts income tax form.
Tereeeeza filed a Pennsylvania income tax form.
Don't they live together?
bump
Nights with white raisins
never reaching the end.
Letters from doctors
say I'm 'round the bend.
Walking around half-pished
with my eyes glazed o'er.
Just what the truth is
I don't care anymore.
Chorus:
'Cause I own you,
yes I own you,
oh, how I own you.
Time to do away with foundations and other tax schemes for the very rich and have a National Retail Sales Tax where everyone pays their fair share...
Typical. They just don't want others to join them in that elite economic club.
ROTFLOL!
Here I was trying to get that miter to flow with the Claribell the Clown Howdy Doody song - when it suddenly hit me!....
BTTT
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