First two pages reported, paper jam at the accountant.
Posted on 10/15/2004 2:51:33 PM PDT by The Great Yazoo
Teresa Heinz Kerry Releases 2003 Tax Info; Paid Over $798,000 in Federal, State Income Taxes Fri Oct 15 2004 17:44:41 ET
Mrs. Teresa Heinz Kerry announced today that she has filed her final 2003 federal tax forms and as she said promised last spring, has released the top two pages of her 1040 tax filings.
Mrs. Heinz Kerry paid $798,820 in state and federal income taxes in 2003, approximately 35 percent of her gross taxable income, according to figures and federal tax forms she released today.
Mrs. Heinz Kerry paid $627,150 in federal income taxes on gross taxable income of $2,291,137, primarily from dividends and interest she receives from Heinz family trusts. In addition, she paid an additional $171,670 in state income taxes and had $2,781,791 of tax exempt interest income from state, municipal and public entity bonds. These taxes are separate from and in addition to the income taxes paid directly by the Heinz family trusts and by other beneficiaries who receive income from those trusts.
In 2003, Mrs. Heinz Kerry was responsible for more than $4.6 million distributed as charitable contributions, primarily through charitable grants by the Heinz Family Foundation, a 501(c)(3) corporation Mrs. Heinz Kerry established with her late husband, Senator John Heinz and later significantly expanded after his death in 1991 through her creation of the Teresa and H. John Heinz III Fund within that Foundation. The Heinz Family Foundation is principally funded by a charitable lead trust, the Teresa & H. John Heinz III Charitable Trust, established as a result of estate planning decisions made by Senator Heinz and Mrs. Heinz Kerry before his death.
The Heinz Family Foundation is separate from the Howard Heinz Endowment, of which Mrs. Heinz Kerry is Chairman, and the Vira I. Heinz Endowment, of which she is a board member, both of which were established by earlier generations of the Heinz family and make significant annual charitable grants. Both the Heinz Family Foundation and the Endowments file publicly available Forms 990 PF on an annual basis, forms which set forth the charitable grants as well as investments made by each entity.
In 2000, then-candidate George Bush filed an extension for his 1999 taxes, released some information in the Spring and then released his 1040 Form after he filed his taxes in October 2000. Mrs. Heinz Kerry files a separate tax return from her husband, Senator John Kerry, and received an extension for filing her 2003 returns until October 15, 2004.
While she is not a candidate for any public office and the release of this tax information is not required by law, it fulfills the commitment Mrs. Heinz Kerry made last May. The release of this information is in addition to the financial information Sen. Kerry and Mrs. Heinz Kerry already had disclosed through the forms required by the Senate Financial Disclosure Report and the Executive Branch Personnel Public Financial Disclosure Report, both of which are publicly available on Senator Kerry's campaign website, johnkerry.com.
"This tax information goes beyond any legal requirement, but John and I believe it strikes a proper balance between my family's privacy and the media's requests for additional information," Mrs. Heinz Kerry said.
nike == a new contraction of not like
This doesn't satisfy anything. This woman is hiding a lot.
Don't be fooled, she only paid 12.8%, besides, she took advantage of tax loopholes created by Kerry in 1997. Her contributions to Tides Foundations are for radical causes such as terrorists.
I'm sure the MSM media are hounding her for more documents as we speak (and Kerry's Form 180, too)...
Yeah, I bet they are. NOT!!!
I'm paying it. That comes under the definition of taxable income.
I really don't see any sense in pursuing this line. What are we going to say? Teresa should pay taxes on income that isn't taxable? Especially when we advocate reducing taxes across the board. I think it might make us look a little foolish. But that's just me.
You won't see the forms. She's filed for an extension. Read their press release:
http://www.johnkerry.com/pressroom/releases/pr_2004_0511b.html
Good heavens, my info in the above link is wrong. So sorry!
And John Kerry can raise taxes on the rich till the cows come home and Tereza is still gonna pay a lower marginal percentage than many working stiffs. For people who are so concerned about the rich paying their share, the Kerrys sure go to great lengths to lower their tax burden.
Too bad alcohol purchases aren't tax-deductable, otherwise she wouldn't have had to pay any taxes at all.
Federal income taxes 12.36%. Fed plus state income taxes 15.74%. Doesn't disclose miscellaneous taxes.
She had nearly 6 million in income and paid less than 800 thousand in taxes. That means she paid about 13 or 14 percent of her income in taxes.
I pay a greater rate that that. They tax people who earn money by working at high rates. The super rich pay very little in taxes. That is why the super rich from Bill Gates to Warren Buffet support the Democrats.
High tax rates are charged to people who are climbing the ladder of success. That means people trying to compete with Gates can't. That means someone trying to start a new Ketchup company has the deck stacked against them and Heinz has it stacked for them. The owners of Heinz have a huge advantage. The tax laws the Democrats enacted gives them a huge break. It is the guy starting from the bottom and trying to work his way to the top that is handicapped by the tax laws.
That is why 10 of the 10 richest Americans are all Democrats.
First two pages reported, paper jam at the accountant.
But guess what? Trusts don't pay tax on income until they spend it. If all she paid in taxes is $798,820, then that is really a rate of about 2%.
Even the estate tax isn't on the wealthiest Americans. It hits middle range wealthy Americans hardest.
So is the $550 million principal of the fortune Teresa Heinz inherited tax-free and John Kerry married tax-free.
This couple, who is worth $550 million dollars and who call two-income families earning over $200,000 "the wealthiest Americans" paid 0.145 percent of their total wealth in taxes for 2003.
Less than fifteen hundredth of a single percent of their total wealth in Federal taxes for 2003. That's it.
Is it any wonder that these people could not care less about raising the income taxes on hard-working couples?
Income taxes only significantly impact workers and not the truly wealthy such as Teresa Heinz and John Kerry.
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