JOHN KERRY PROVIDED BIG OVERSEAS TAX LOOPHOLE FOR HEINZ CORPORATION

WMCA-NY ^ | 7.15.2004

[KMC1]

NEW YORK - In recent days, at every campaign stop John Kerry talks more and more about the evils of allowing companies to take advantages of overseas tax breaks.

According to Senate legislation and the public record John Kerry believes in punishing companies who ship operations off of American shores - as long as he or his wife does not benefit from it personally.

According to reports, John Kerry, personally worked on tax legislation that was designed to punish companies for moving off shore. Kerry then pushed for a major loophole that would exempt the HEINZ corporation from the same penalties.

Donald Luskin who serves as Chief Investment Officer of Trend Macrolytics LLC made the issue public in a report on Wednesday.

Luskin contended, "Kerry's economic proposals seem tuned to serve his wife's economic interests. His proposal last March to end tax breaks for U.S. corporations that do business overseas was designed with a loophole that would allow the H.J. Heinz company keep its overseas tax breaks and get a lower domestic tax rate at the same time."

Reportedly Luskin went on to press for full disclosure of Ms. Heinz Kerry's tax records before the election. Luskin reported that with known information of what Ms. Heinz Kerry's worth is (upwards of 3.2 billion) her reported income for 2003 of only 5 million is laughable.

The speculation is that she is the worst investment manager of all time or she is quite adept at hiding investments.

[PersonalLiberties]

"Kerry's economic proposals seem tuned to serve his wife's economic interests. His proposal last March to end tax breaks for U.S. corporations that do business overseas was designed with a loophole that would allow the H.J. Heinz company keep its overseas tax breaks and get a lower domestic tax rate at the same time."

I recall hearing (reminded of this today due to the Martha Stewart case) that if you look at the investments of the members of Congress they regularly outperform the index. Probably in part due to using their (inside if you will) knowledge of what regulations/laws/loopholes are out there and what in in the pike. Only bring this up to point out that unfortunately this is nothing new (but it still burns my biscuits).

These guys are suppose to be looking out for the best interests of Americans as a whole but this seems to be an antiquated concept.

[PersonalLiberties]

should say "what is in the pipe"

[bray]

Talk about Benedict Arnold! He is talking about no American should be working in poverty and outsourcing jobs and he has made millions off of slave labor in American Samoa??? Let's see the tax returns and see how "evil" some rich people can be! If not the loan on his wife's house he would not be in the race!!

Pray for W and The Truth

[mewzilla]

BTTT.

[I-53]

what's sauce for Cheney should be sauce for Kerry bump