To: American Spirit who wrote (59746 ) 4/16/2005 7:37:21 PM From: lorne Read Replies (1) | Respond to of 81568 as. You said...."Mrs. Kerry gives away money for a "living". She inherited it when her ex husband died. She is not a profiteer. "..... Teresa Heinz Kerry: You pay taxes, I don't Gerard Jackson BrookesNews.Com Monday 19 July 2004 newaus.com.au 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. The vast majority of Americans are unaware that the Byzantine tax code with its labyrinth of loopholes has made income taxes for the super rich like Teresa Heinz Kerry largely optional. The two major tax loopholes that Teresa Heinz Kerry could exploit to drastically reduce her taxable income are trusts and 'charities'. Income can be sheltered in trusts where it remains untouched by taxation until it is spent. In the meantime the value of the trusts continues to rise. 'Charities' are also a favourite dodge of the leftist elite. When most people think of charities they imagine orphanages, school grants, medical foundations, etc. However, in the leftist world of the likes of Teresa Heinz Kerry leftwing political organisations also count as charities. For example, using the Heinz Family Philanthropies and the infamous Tides Foundation, she has been able to channel tax-free funds into anti-American, anti-Israel and even pro-terrorist groups. (One of the beneficiaries of her largess, the Ruckus Society, is planning to disrupt the GOP's New York convention). That Teresa Heinz Kerry has deliberately circumvented the law in the name of charity in order to finance these vicious groups is in itself an immoral act, and one that bears investigating by the IRS. However, what we are dealing with here is her attitude toward paying taxes. I am not going to argue that by minimising her taxes she behaved immorally. What is immoral about her actions is her support for higher taxes for the little people while she drastically reduces her own tax liabilities. Critics will claim that her tax shenanigans have nothing to do with her husband. Balderdash. She is not only helping to fund his campaign she also shares his views on taxes, especially when it comes to not paying them. Massachusetts residents are given a limited choice every year on how much to pay in income taxes. The state's top rate was 5.8 per cent before being lowered to 5.3 per cent. Since 2001 residents have been able to choose between the old rate and the lower one. John Kerry chose the low rate. Additionally, it has been reported that last year John Kerry proposed tax legislation that created a loophole specifically designed to benefit Heinz Foods Co. and therefore his wife. Yet Teresa Heinz Kerry and her hubby have got the nerve to categorise those who reach the $200,000 earnings bracket as rich. So rich, in fact, that Kerry would raise their taxes. Now consider the morality of a woman who has used loopholes to enjoy an effective tax rate of 14.76 per cent, or maybe even 0.938 per cent, rooting for a 30 per or more effective tax rate for people whose net worth is a tiny fraction of one per cent of her own fortune. Bear in mind that these potential victims of political spite are also denied the tax loopholes that this woman has shrewdly exploited, despite the fact that it takes them a year to earn what her investments probably yield in a day. The taxes that Teresa Heinz Kerry supports are taxes on capital, which amounts to taxes on economic growth. Without growth high-paying jobs will gradually disappear, social mobility will shrink and poverty will spread. What Teresa Heinz Kerry is attempting to do is strike at Americans' aspirations and future prosperity. Any wonder I now believe that wealthy persons should not be allowed any say in raising taxes unless they themselves are prepared to reduce their own standard of living to the same level as those upon whom they propose to increase the tax burden. Theresa Teresa Kerry is not alone in her hypocrisy: Teddy Kennedy, Corzine, Frank Lautenberg, etc., are right up there with her. Theresa reminds me of the moronic and filthy rich Edwin Janss, founder of the leftwing Janss Foundation, who said that "when the revolution came, the houses of his neighbours would be people's palaces". Naturally, his house would be the exception.