Heinz Kerry Hiding $45 Million in Income, Paid Just 1.2% in Taxes

Teresa Heinz Kerry earns approximately $50 million in annual income, ten times what she revealed on tax forms released late Friday, according to the New York Times.

The staggering sum generated a mere 1.2 percent federal income tax liability, unless Heinz Kerry paid additional federal taxes not shown on the forms released Friday.


The average middle class American family pays 20 percent of their income in taxes, a rate 16 times higher than the would-be first family.

Noting that the Kerry campaign has not challenged an estimate earlier this year that Heinz Kerry's net worth is close to $1 billion, the Times said Saturday, "Even a modest 5 percent return would have generated $50 million of income." Tax forms released Friday show she paid a puny $628,000 in income taxes.
While that figure represents 12.3 percent of the $5 million annual income disclosed on the documents, that number would decline to 1.2 percent when calculated against the Times' income estimate for Heinz Kerry.

The $45 million in income not disclosed by Heinz Kerry was likely derived from Heinz family trusts that benefit the would-be first couple.

Portions of Heinz Kerry's tax return not made public would detail her personal investment accounts, accounts controlled by the family trust and any offshore investments she controls, the Times said.

Financial experts cited by the New York Post on Saturday said that the Kerry family's reported $5 million annual income wouldn't come close to covering their lavish lifestyle, which includes five estates, multiple cars, a $3.5 million Gulfstream V jet complete with plasma TV, gold fixtures and two bathrooms, a yacht worth $750,000 to $1 million and servants in every location.

I'm sure Karl Rove is behind this. His tenticles know no limits.

BK

-- Modified on 10/16/2004 9:53:12 PM

A statement released by the Kerry campaign noted that income taxes are paid directly by the Heinz family trust, in addition to taxes that Ms. Heinz Kerry pays.

Your post title is misleading the public.

Doesn't the wealth from Democrats trickle down, the way it does with Republicans?  I forgot, Republicans have the right to be consistently greedy, since greed is a virtue.  

As long as Kerry pays more in taxes after he becomes President, if he does, after Bush's tax breaks on the rich are repealed.  Otherwise, hold your man responsible, he's the one who made the tax cuts.

/Zin

exceptional at the greed game. With a NW of 1B, maybe top 100 or so in the world at greed I'd say.

It would seem she faces a dilema because now she married to a man who's religion is taking other people's money, spending for votes, and all the while preening like a peacock....a regular evangelical tax and spender....

Perhaps she married him for penance...lol!

BK

-- Modified on 10/19/2004 11:54:20 PM