Monday, October 18, 2004

Limosine Liberals
from the mind of  ME=mc^2.

Today's Wall Street Journal reports that according to Teresa Heinz Kerry's 2003 tax return, Mrs. Kerry earned $5.07 million. This seems like a surprizingly small number for someone worth over a billion dollars. Moreover, $2.78 million of that income came from tax-exempt interest from state, municipal and public entity bonds. These are the sorts of investments that expensive tax attorneys and accountants advise rich people to put their money into. The Wall Street Journal goes on to note that her remaining taxable income was $2.29 million on which Mrs. Kerry paid $627,150 in taxes. Here's the clincher: Her overall average federal tax rate was only 12.4% on her $5.07 million in total income. The average taxpayer paid 14.2%.

1 Comments:

Blogger Evan said...

In addition to this, I've heard that John Kerry took the lower option on his income taxes... that he could have opted to pay a higher rate by simply using using a different tax rate. Seems as though the Kerry family understands that tax cuts are beneficial for all income brackets... why doesn't he just come out and say it.

Oh... that's right. He can swindle people into voting for him by preaching failed economic policies.

But, who are we to judge them. We are mere 'common people' as Tuh-ray-zuh would say.

11:49 AM  

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