Sunday, October 17, 2004

Kerry's Tax Rate Was 12.8 Percent

What was yours? Turns out that the kind of flat tax plan that I'm sure Bush would love to put in place would increase taxes on a guy like Kerry by about 50%. Then Kerry and Tahrayza would be paying at a rate more like the middle class has had to pay. I wonder why Kerry opposes tax reform? Also, even though what he is doing is perfectly legal, he's got a lot of gall talking about the rich not paying their share. He (and most of the hyper-rich) can legally get his rate down to 12.8%. Most of us can't. Even the Bush's paid 30% the same year as the Kerry's paid 12.8%. Spare us the class warfare lectures, sir.

Opinion Journal has the details.

Hopefully Bush will make some use of these facts on the campaign trail. For some reason the Heinz-Kerry's did not release their tax records until after the debates. How convenient.

A responder to the Opinion Journal article also points out the following:
Some economists have been quoted as saying it's virtually impossible for the Kerrys to sustain their lifestyle on a paltry $5.51 million income. Simply maintaining their five estates, multiple automobiles, $3.5 million Gulfstream V jet and $1 million yacht complete with servants at all locations would far exceed their reported income thus far released. Unless they pay their servants the minimum wage, even the brilliant Sen. Kerry and the radiant Teresa Heinz (don't blame me for referring to her as Heinz--that's the name she uses on her tax returns) couldn't figure out how to maintain their lifestyle on that income.

Where did I get this information? Why, from the far right New York Times, a Kerry endorser. The Times estimates their income closer to $50 million when taking into account an estimated $45 million income from Heinz family trusts. That, folks, would put their tax rate at 1.2%, again according to the far right extremist New York Times. So when you look at your pay stubs next week you can be comforted to know that your fair share of taxes exceeds that paid by at least one billionaire couple. You see, John Kerry is right when he says the very rich don't pay their fair share. At least in his case.

Now, I'm not quite sure if that is true. Presumably the trusts pay their own taxes separately from the Heinz-Kerry's personal income taxes. But those records have not been released. You'd think the hate-the-rich Press would want to help clear this up for us. Wouldn't you?

1 comment:

Anonymous said...

I'm convinvced that they believe that everyone can find the tax loop holes just like they use. Hence everyone really pays a much lower tax rate than the rates passed by congress. Hence, we need higher base taxes just to make sure everyone pays their fair share!