Posted on 10/07/2004 5:49:37 AM PDT by OESY
...Talking about health care, Vice President Dick Cheney noted that his opponent set up a personal corporation that allowed him to avoid paying $600,000 in Medicare taxes.... Senator Edwards responded that he had paid all the taxes he owed -- which was never in dispute -- and that he favored the closing of all such loopholes. "They ought to be closed whether they're personal, and they ought to be closed whether they apply to a corporation," he averred....
Democrats have made much out of the fact that Vice President Cheney still receives deferred compensation from his former company, Halliburton, even though this is standard practice and the payments are insured so that he has no stake in the financial well-being of the company. Mr. Edwards also received deferred compensation from his old law firm, Kirby & Edwards, for most of his Senate term. Wouldn't it be better for both parties if there was no need to shift income around in such artificial ways that allow opponents to suggest something underhanded is going on?
Democrats say they want to preserve the existing system because it is progressive -- that is, it taxes the rich more than the poor. If that's their objective, Senator Edwards acknowledged in the debate that it's not working....
That sounds a lot like a line we've heard President Bush use on the stump. Try to raise taxes on the rich using the current rules and all you get is more tax avoidance....
...John Kerry's mega-millionaire spouse, Teresa Heinz Kerry, is estimated to pay only about 15% of her income in taxes, because so much of it is sheltered in various foundations and trusts. We can't be sure because Mrs. Kerry has so far refused to release her complete tax returns....
(Excerpt) Read more at online.wsj.com ...
One thing is for sure, that being the practice of paying yourself thru dividends thru your S-Corporation is going to skyrocket thanks to an Edwards candidacy. The man is nothing but an advertisement for tax avoidance.
If he really beleived this, he would have submitted legislation to accomplish this.
Excellent point! Well spoken!
John Kerry/John Edwards : "I got mine."
You forgot the 2nd half.
I got mine...Pull up the rope.
Tax avoidance? Damn straight! Legally avoid all the taxes you can!
Anyone with an accountant that can walk and chew gum at the same time will suggest that a person do what Edward's did. Why should Edwards or anyone else pay huge amounts into a system that will pay them back (if they ever use it) the same amount it pays to someone that put basically nothing in?
There should be a limit on the amount anyway. Just like there is a taxable maximum on income for social security benefits. Which is another total ripoff and transfer of wealth from someone who just happens to be making money TODAY to someone who is not. I went to http://www.ssa.gov/OACT/quickcalc/calculator.html an "calculated" my benefits at age 62.1 (a ways away thank goodness) and the monthly benefit is about a days pay for me.
We need to chunk the whole stupid income tax and replace it with something else. As far as medicare and social security please let me opt-out. I'll put the money somewhere else and come out way ahead.
I like Dick Cheney and I can see his point but I see nothing wrong with what Edwards did. I've done the same thing.
This law was introduced by Kerry, and passed, for the only purpose to benefit his wife, paying only 10% taxes in her billion assets.Kerry and Edwards are scammers, taking advantage of this loophole which they created, and Cheney should have brought up Tereza's usage of this loophole as well thanks to Kerry's actions.
Its easy for Kerry to say he is going to tax the very rich. What it will come down to however, is that the very rich will stay uneffected as their money is already hidden in shelters like Kerry and Edwards. It is the small business owners and the people that make up the upper middle class that will be the ones to pay. The upper class will escape.
I am praying that GWB will get the guts to reform the tax system, and give people like me a break.
It's wrong because he is using economic class warfare to glean votes. He lambastes poolside sitters who count their money for not paying more in taxes, yet does the same himself. If he were not running for office on those points, I would agree with you.
Senator Edwards responded that he had paid all the taxes he owed -- which was never in dispute -- and that he favored the closing of all such loopholes.
Hmmmm, still trying to parse that one.
A Taxreform bump for you all.
If you would like to be added to this ping list let me know.
John Linder in the House & Saxby Chambliss Senate, offer a comprehensive bill to kill all income and payroll taxes outright, and provide a IRS free replacement in the form of a retail sales tax:
I can't take watching that thing for several years. Add that to the creepy undertaker John Kerry and it's just too much. They are like the dead clawing their way out of the graves in the Michael Jackson thriller video.
My biggest complaint about Kerry/Edwards is the negativity. Those guys would find something bitch about after getting a BJ from Pamela Anderson.
Quite colorful in a Thompson-esque style. Your posts are fun to read. And yes Virginia, Pamela Anderson does have sharp teeth.
Yup. If Kerry brings this up in the next debate, Bush should immediately ask Kerry to name the bills that he has sponsored to do it.
I was able to sneak over the constantina wire again today without getting caught or too cut up. I went book shopping.
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