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To: conservative in nyc

But her Heinz stock yields 2.9%.

I suspect that she enjoys very substantial write-offs from real estate investments.

The article notes that income taxes totalled $750K, but fails to note that this includes state income tax.

Her average Federal income tax rate was just over 10% ...
that's the average rate paid by wage earner with taxable income less $7000 per year. For married individuals filing separate returns, wage earners making taxable income between $7000-$28,000 per year pay a marginal federal income tax rate of 15% -- a rate almost 50% higher than the widow Heinz' average rate!

The article's slam on tax-exempt status of municipal bonds is largely bogus, though. Municipalities pay interest rates much lower than the market rate because of the tax-exempt characteristic of municipal bonds.

But it's thesis is absolutely correct: Kerry and his ilk are slimy, hypocritical demogogues.


14 posted on 05/14/2004 6:31:52 AM PDT by RBroadfoot
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To: RBroadfoot

Her average federal rate was 11%, only if you don't take into account that interest on tax-exempt bonds is not taxable. She paid federal and state taxes on her taxable income at a rate of 32%, which is not too unusual. The AMT rate would be 28% for her, but only 15% on dividends. She had both interest and dividend income.

I didn't know the Kerry financial disclosure statements were on-line. When I have more time (perhaps this weekend), I'll look to see if there's any there there.

I doubt the story of her refusing to release her full returns with attachments has anything to do with the income shown on it. It more likely has to do with the income that doesn't show up on it due to estate planning, tax shelter and other related possibly legal, possibly dubious --- but definitely difficult to explain to the Democratic base --- items that you'd only be able to tell from looking at the attachments to the returns. She has promised to release the first two pages of her 1040 when filed in October.


17 posted on 05/14/2004 6:41:22 AM PDT by conservative in nyc
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To: RBroadfoot; CurlyDave

I didn't bother to go back to the stories, but my recolection is that the $5 million figure described in the "summary" was her adjusted gross, which would be pre-deductions.


30 posted on 05/14/2004 9:06:17 AM PDT by SJackson (Arab leaders don't give a damn whether the refugees live or die, R. Garroway, UNWRA director, 8/58)
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To: RBroadfoot; newgeezer

But Rush says the rich people are paying most of the taxes!!


31 posted on 05/14/2004 9:14:41 AM PDT by biblewonk (No man can come to me unless the Father who sent me draws them.)
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