Teresa Heinz Kerry: Hiding Something?

The Trentonian | Wednesday, July 7, 2004 | Dave Nesse, Editorial Page Editor

[Doctor Raoul]

The naming of a runningmate hardly takes all the suspense out of Sen. John Kerry’s candidacy. Another important matter still looms involving the vast wealth of the candidate’s wife, Teresa Heinz Kerry. No, the issue in not her possession of such wealth, per se. The possession of wealth seems to be a troubling issue only among denizens of the political left and then seemingly only when the wealth in question is possessed by a Republican.

Is whether Teresa Heinz Kerry going to come fully clean on her finances or opt, as she has so far, for a modified limited hangout, to use the old Nixonian Watergate term for curbing disclosure. So far, she’s opted for the latter.

She released a summary stating her 2003 income at a tad over $5 million, which sounds low measured against her assets – for example, a $35 million Gulfstream V jet, a $14 million spread outside Pittsburgh, a $12 million place on Nantucket, etc, etc. not to mention her hubby’s 750,000 to $1 million yacht and $8,000 mountain bike. But she has not released income tax returns. If she persists in her refusal to do so, Kerry will be the first presidential candidate in three decades not to make full financial disclosure including his spouse’s income tax returns.

Teresa Heinz Kerry, who inherited her wealth from her late husband Pennsylvania Sen. John Heinz is clearly a philanthropist of magnanimous magnitude, funding myriad noble causes through various foundations. But some of the Heinz wealth also has found its way indirectly to political activist causes. Her wealth played a more direct political role in shoring up her husband’s precarious primary campaign finances with a well-timed, desperately needed loan. The political reach of her wealth is one reason for full disclosure.

Another, more compelling reason is the economic reach of her assets. The Heinz trust makes hundreds of thousands of transactions a year in stocks and bonds. Her wealth is a significant market force all by itself. This is true even assuming, as we do, that influence of the Heinz wealth is free of any taint of malevolence or impropriety.

The full disclosure issue has become all the more urgent with the Los Angeles Times estimate of her wealth as far greater previously reckoned - $900 million to $3 billion. Even the lesser of those numbers dwarfs the net worth of George W. and Laura Bush ($13 million) who are often portrayed by many of those now rallying to the Kerry banner as part of a shadow government of sinister plutocrats.

Heinz-Kerry and her candidate husband are assuming the political personas of would-be tribunes of ordinary working Americans. The Kerry campaign has retained as its hired-gun media consultant Robert Shrum, an exponent of populist themes. Yet another reason for full financial disclosure.

Of course, in the end, there is no legal requirement that Heinz Kerry disclose her income tax returns. She would be fully within her rights to persist in telling Americans, in effect, “My wealth is none of your business!” In which event Americans will be perfectly justified in wondering what she and her candidate husband are hiding.

[Doctor Raoul]

Like this editorial? Call 609-989-7800 and thank Dave Nesse, Editorial Page Editor.

[randog]

She would be fully within her rights to persist in telling Americans, in effect, “My wealth is none of your business!” In which event Americans will be perfectly justified in wondering what she and her candidate husband are hiding.

No, we would be well within our right to tell her and her pet that they have no business running our business.

[MarkeyD]

who inherited her wealth from her late husband Pennsylvania Sen. John Heinz

Wasn't that REPUBLICAN Sen. John Heinz?

[NotchJohnson]

Her wealth came from letting some guy lay on top of her. Not very hard. Kerry had the alent to get two rich wives.

[randog]

Yeah, that's the guy--the one that's rolling over in his grave.

[locochupacabra]

She would be fully within her rights to persist in telling Americans, in effect, “My wealth is none of your business!” In which event Americans will be perfectly justified in wondering what she and her candidate husband are hiding.

Can you imagine if a Republican said "My wealth is none of your business!"? The liberal media and the Demoncraps would be all over them like stink on a monkey.

[Doctor Raoul]

Yes

[Doctor Raoul]

Check out the new tagline...

[Doctor Raoul]

Slight mod...

[I-53]

She (Heinz) recently owned one of the largest tuna packing plants in the world in Pago Pago, American Samoa. They unloaded it in 2002. I'm dying to know the whole story. The harbor at Pago Pago is polluted. The Samoans have been told to not eat the fish from the harbor. There are also reports of sweat shops on Samoa, and I'm wondering how it was for the tuna packers under Heinz. Maybe it was wonderful; I'm just wondering. Knight Ridder made mention of the fact that when American Samoa voted in the primary, mainly for Kerry, that it wasn't posted on Samoa news online nor on Kerry's webpage. Is there something out in the South Pacific we should know about? Maybe not.

[I-53]

something fishy bump

[cyborg]

Yes she's hiding something... the bodies of housegirls who didn't bring her tea on time!

[JDoutrider]

Worth a bump!

[cyborg]

worth two bumps

[bray]

The Stone-age press doesn't have time to look into the Heinz' Billion$$, they are too busy manufacturing the connection between Cheney & Haliburtan. You know, the company that has over 40 employees kidnapped or killed in Iraq!!!

Let's see her taxes, you've seen mine!

Pray for W and The Truth

[Reeses]

her 2003 income at a tad over $5 million

She might be hiding that her effective tax rate on that $5 million is around 15% due to not having to work for a living. She's able to get the capital gains tax rate on all her income. She might be hiding that the Democrats planned tax increases will not touch her, only us working stiffs. It's easy to raise tax rates when you're not the one that pays them.

[no dems]

Just wait until Bush/Cheney camp publicizes the extreme, radical orgainizations she gives millions of dollars to.

But, hey, if it's good for Jack Ryan, it's good for Jack Kerry. Open those files containing the divorce papers from his first marriage. Find out what it was about this guy that made his first wife, by her own admission, suicidal.

[conservative in nyc]

Glad to see Heinz-Kerry's failure to release her tax returns is still an issue somewhere. The Slimes and the rest of the lamestream media seems willing to give her a pass for releasing summary information on a slow news day and promising to release the first two pages of her tax returns when final in October. The first two pages will show nothing. All of the meat is in the schedules and attachments.

I suspect she invested in a number of tax advantaged investments over the years. Some may even be tax shelters. She owns interests in oil-and-gas and timberland partnerships. Both are known for being tax-friendly to rich people.

[Southack]

One of Mrs. Heinz-Kerry's trusts was an enormous stockholden of Enron, which is again in the news due to Ken Lay...who coincidentally was also hired by Mrs. Hienz-Kerry to run one of her large charities.

Her refusal to release her full tax returns also calls into question whether or not she is (still) an American citizen, has dual citizenship, or is laundering vast income through Benedict Arnold offshore companies, all of which offer her significant legal tax advantages.

More troubling, however, is that the mainstream news media has *never* called for her to release her own tax returns even back when she had a *REPUBLICAN* first husband.

Who else gets such kid glove treatment?! Nor is this woman a political neophyte. No one lands TWO senators for back to back husbands without being politically savvy.

Likewise, what is her colonial wealth? What property does she still maintain in Mozambique?

[Grampa Dave]

Billionaire Widow Chasing Lawyer picks Multi Millionaire Ambulance Chasing Lawyer as his Veep!

Just a couple of real common guys representing the little Americans.

Flush the John/John's in November. America can't afford two lawyers in charge of the Nation.

[wardaddy]

When she married Kerry, she declared she would go down the aisle but never cross it (out of respect for dead hubby)

well she has proven to be a lying beyatch and now uses his money to work against his life's work

and her kids are traitors as well


careful with that estate planning.

[no dems]

"The Trentonian"...is that Trenton, NJ? They're saying that Joisy is in play for the Prez. Editorials like this don't hurt Dubya; that's for sure.

[Doctor Raoul]

She released that info, her $15 tax rate, in the summary. So we have that figure from her.

A lot of Kerry's supporters do not realize they pay more (percentage wise) in taxes than their hero.

When Kerry says that the rich don't pay their fair share of taxes, he knows that for sure.

As liberals are always making an appeal to persoanl greed to justify their policies and bad behavior ("...wouldn't you do that if you could?"), why would Teresa do anything but vote for Bush in this election?

She can't afford John if he's going to make the rich pay their fair share of taxes.

[Doctor Raoul]

The Trentonian is in Trenton, but it has a regional distribution. Curtis Sliwa reads from it a lot and he's in NYC. It's across the river into Pennsylvania. You can buy it in Delaware too.

[Doctor Raoul]

More troubling, however, is that the mainstream news media has *never* called for her to release her own tax returns even back when she had a *REPUBLICAN* first husband.

Back then it was his wealth and I think would have been disclosed on his filings. Don't know for sure, but I'm pretty confident that's the answer.

[familyofman]

"She released a summary stating her 2003 income at a tad over $5 million, which sounds low measured against her assets – for example, a $35 million Gulfstream V jet, a $14 million spread outside Pittsburgh, a $12 million place on Nantucket, etc, etc. not to mention her hubby’s 750,000 to $1 million yacht and $8,000 mountain bike. But she has not released income tax returns."

Just for clarity, which the writer lacks.
The assets listed; houses, airplanes, biles - are not income -producing and have NO relationship to how much THK earned. This is so basic I'm shocked the writer didn't know this which makes me question his intelligence (not knowing that fixed assets cost money instead of producing earnings is basic).

Also, she has filed for an automatic extension on her 2003 tax returns, so she has no returns to release yet. Again, the writer should have done his/her homework, but that wouldn't have fit the diatribe.
Sloppy writing and half-truths don't get you anywhere - might as well be from the NY 'Toast'.

[mtbopfuyn]

She can stall all she wants in releasing her 03 taxes so why not go after her 02 return?

I want to know if she's hiding her citizenship. Is she American? Can she legally vote?

[Reeses]

why would Teresa do anything but vote for Bush in this election?

Leftist politics alls revolves around envy. It does not matter if someone lives better than a king did 100 years ago, what matters is that their neighbor just bought a new SUV and they must either take it away from them or buy one too. The rich supporting the left has all to do with deflecting envy. It feels terrible to have people envy you to the point of hate. By supporting tax increases on the working stiffs in the world they can demonstrate they are a "good" rich person, and want to "give" it all away, if only they could.

[Doctor Raoul]

Just for clarity, which the writer lacks. The assets listed; houses, airplanes, biles - are not income -producing and have NO relationship to how much THK earned. This is so basic I'm shocked the writer didn't know this which makes me question his intelligence (not knowing that fixed assets cost money instead of producing earnings is basic).

The reporter is correct. How can you afford a $200,000 house if you show a W-2 that says you make $5,000 a year.

It's not uncommon for the IRS to make the same observation that the rich lifestyle doesn't square with a reported low income.

Come to think of it, Teresa should be audited, she's got the earmarks of a tax cheat.

[Mamzelle]

We have to make hay out of her refusal to come clean about her finances. I do hope our version of the War Room has a plan.

[familyofman]

"How can you afford a $200,000 house if you show a W-2 that says you make $5,000 a "

I doubt she gets very much income reported on a W-2 (wages) since almost all of her $5,000,000 (not $5,000) was from interest and dividends (1099 reports). The value of your house does not determine your income - but, if you 'earned' $5million a year, you should be able to afford what she owns.

[Doctor Raoul]

I doubt she gets very much income reported on a W-2 (wages) since almost all of her $5,000,000 (not $5,000) was from interest and dividends (1099 reports).

Never said that, it was said as a simplified example so you'd understand.

The value of your house does not determine your income

That's correct if you're looking to get it backwards.

Point made by the paper and the IRS is that your income determines what you can afford. If you can't afford what you have with your reported income, you're probaby hiding income. What is Teresa hiding?

- but, if you 'earned' $5million a year, you should be able to afford what she owns.

Add it up, $5 million would not pay for John's "Band of Butlers" he's taking on the road.

[Doctor Raoul]

- but, if you 'earned' $5million a year, you should be able to afford what she owns.

Add it up, $5 million would not pay for John's "Band of Butlers" he's taking on the road.