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Politics : The American Spirit Vs. The Rightwing -- Ignore unavailable to you. Want to Upgrade?

To: American Spirit who wrote (1650)	10/12/2004 1:11:16 PM
From: Jagfan	Read Replies (1) \| Respond to of 1904

Teresa Heinz Kerry likes taxes so much she thinks the little people should pay even more. She doesn't put it like that, of course. But what is one to think when the "sexy" Teresa Heinz Kerry supports increased taxes for others while drastically slashing her own taxes. Several months ago I was discussing Teresa Heinz Kerry and her fortune with a friend who had personal experience in that particular field. He reckoned that her assets were yielding an annual average return of at least 8 per cent. Well bless my soul, her latest financial reports reveal she is now worth from $1 billion to $3.2 billion. This means that Mrs Teresa Heinz Kerry has, at the very least, doubled her wealth since 1994, amply confirming my friend's assessment of the return on her capital. Assuming assets of $1 billion, the lowest estimate of her fortune, then an 8 per cent return would yield a cool $80 million for the year. Yet Teresa Heinz Kerry put her hand on her heart and declared with the kind of sincerity that only a bleeding heart Democrat has the nerve to muster that she only earned $5.1 million for 2003. Of this $5.1 million she paid $750,000 in taxes. This is an effective income tax rate of 14.76 per cent — or is it? If her actual income for that year was $80 million then her effective tax rate plummets to a ludicrous 0.938 per cent! But is this really possible? It sure as hell is. newaus.com.au