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Teresa Heinz's 2003 income tax - paid only 12.5% federal tax

Discussion in 'Free-For-All Archives' started by bb_baptist, Oct 16, 2004.

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  1. bb_baptist

    bb_baptist New Member

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    John Kerry's near-billionaire wife, Teresa, reported more than $5 million in total income last year but paid only 12.5 percent in federal taxes — less than the average middle-class family — according to documents released yesterday by his campaign.

    Teresa Heinz (that's the legal name on the tax return, NOT HEINZ KERRY [​IMG] )reported a total income of $5,072,533. She paid $628,401 in federal taxes, or a rate of 12.47 percent. The average middle-class family pays more than 20 percent.

    George and Laura Bush pay 30.4% of their income to taxes.
     
    #1 bb_baptist, Oct 16, 2004
  2. bb_baptist

    bb_baptist New Member

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    #2 bb_baptist, Oct 16, 2004
  3. Daisy

    Daisy New Member

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    Did you notice the document is dated 1983, more than 20 years ago? Is that investment worth anything today?
     
    #3 Daisy, Oct 16, 2004
  4. Craigbythesea

    Craigbythesea Active Member

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    In the United States our Federal Tax obligation is NOT based on our “total” (gross) income, but on our taxable income. The problem, if there is one, is not with Teresa, but with our tax system. Therefore, the facts and figures in this post are irrelevant to the campaign—but of course that is the very nature of Republican campaign strategy when they have a candidate like Bush on the ballot.


    [​IMG]
     
    #4 Craigbythesea, Oct 17, 2004
  5. Pastor Larry

    Pastor Larry <b>Moderator</b>
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    I do think to a large degree that it goes to the heart of the rich not paying their fair share. If these people (kerry and Edwards) were so devoted to the rich paying their fair share, why are they hiding it in various tax shelters? It certainly shows an inconsistency when they says "We ought to raise the taxes" but then hides their own money until they are forced to pay.

    It is legal and should remain so. But it is also hypocritical to say that the rich should pay more while you are hiding your money to avoid paying more.
     
    #5 Pastor Larry, Oct 17, 2004
  6. just-want-peace

    just-want-peace Well-Known Member
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    My thoughts exactly! If they are so bound and determined that the rich ought to pay more, then why don't they do it; nobody's twisting their arm to take advantage of the loopholes.

    Can you say "HYPOCRITES"?
     
    #6 just-want-peace, Oct 17, 2004
  7. bb_baptist

    bb_baptist New Member

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    WASHINGTON, D.C. - John Kerry has repeatedly called for increasing taxes on the "wealthy" so the affluent "pay their fair share" for the "common good." Ironically, John and Theresa Heinz Kerry, who comprise one the richest families in the world, pay relatively little income tax.

    Last year, John Kerry and his wife paid just 12% of their combined income in income taxes, despite their assertion that the rich should contribute increased amounts to government coffers. In contrast, President and Mrs. Bush, who had a substantially lower income than the Kerry's, paid over 28% in taxes.

    "John Kerry wants other Americans to pay higher taxes while he and his wife manage to pay a rate lower than most of the middle class," said ATR President Grover Norquist. "Apparently, the Kerrys think everyone else should pay higher taxes but them."

    In addition to finding loopholes and write-offs to decrease his taxes, John Kerry has declined to pay a small, voluntary tax in his home state. The Massachusetts state income tax code contains a provision allowing payers to contribute an extra .6% of their income to benefit the commonwealth. Kerry has consistently failed to pay the extra money, which would have amounted to $687 dollars last year.

    "John Kerry thinks other hardworking Americans should pay more taxes while he and his billionaire wife pay as little as possible," continued Norquist. "The hypocrisy John Kerry shows on his own tax return is not indicative of the character and judgment America needs in our President."

    Americans for Tax Reform is a non-partisan coalition of taxpayers and taxpayer groups who oppose all federal and state tax increases. For more information or to arrange an interview please contact Christopher Butler at (202) 785-0266 or by email at [email protected].

    http://www.atr.org/pressreleases/2004/pr-kerrystaxes-9-7-04.htm
     
    #7 bb_baptist, Oct 17, 2004
  8. Daisy

    Daisy New Member

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    They play by the rules, nothing hypocritical about that.

    Kerry wants to change the rules to favor the middle-class while Bush wants to change the rules to favor people like Kerry and his wife (and Bush and his wife).

    What Kerry & Heinz pay is still more total dollars than what the Bushes pay.
     
    #8 Daisy, Oct 17, 2004
  9. just-want-peace

    just-want-peace Well-Known Member
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    So basically what you're saying is that the rich DO pay most of the taxes? (Where have we heard that before?)

    However, you miss (or ignore) the point; that being that that the Dems want the rich to pay more taxes than they do now, but Kerry et al ain't putting their money where their mouth is!

    Don't recollect that anybody said they weren't LEGAL, just hypocritical!
     
    #9 just-want-peace, Oct 17, 2004
  10. Pastor Larry

    Pastor Larry <b>Moderator</b>
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    That's actually not true. Bush changed the tax laws to favor tax payers, period. If you pay taxes, you got a cut.

    The Dems have made much out of the fact that the richest got the biggest tax break. There is a very simple reason that doesn't take a degree in economics to figure out. The rich got a big tax break because the rich pay the most taxes. The greatest bulk of taxes for many is the social security tax. There is no way to cut that. Under Bush's plan, the rich got big tax breaks becuase the rich pay taxes.

    But be that as it may, the fact remains that the Kerry's (who think the rich should pay more) refused to pay more. They used legal tax shelters to be sure, but in so doing displayed great hypocrisy. If you think you should pay more taxes, then you should pay more taxes. Why should the government have to demand it out of you?

    And???? So what??? They make more money.
     
    #10 Pastor Larry, Oct 17, 2004
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