Posted on 07/14/2004 5:53:22 PM PDT by wagglebee
Tax legislation proposed in the Senate by Democratic presidential candidate John Kerry last year was designed to crackdown on companies doing business overseas - but the proposal had one giant loophole: an exemption for the H.J. Heinz Foods Co., the source of his wife's vast fortune.
The stunning Kerry-Heinz conflict of interest came to light on Wednesday in a report by Donald Luskin, chief investment officer of Trend Macrolytics LLC, published in National Review Online.
"Already Kerry's economic proposals seem tuned to serve his wife's economic interests," Luskin contended. "His proposal last March to end tax breaks for U.S. corporations that do business overseas was designed with a loophole that would let the H. J. Heinz Company — the centerpiece of Mrs. Kerry's family fortune — keep its overseas tax breaks, and get a lower domestic tax rate at the same time."
Luskin cited Kerry's Heinz Foods tax loophole as just one example of why it was absolutely imperative that his wife unseal her tax returns before the election.
So far the prospective first lady has agreed to make just two pages of her tax forms public - and then not until October. Meanwhile, there are indications that she may have significantly understated her income.
Limited tax information released by Mrs. Kerry in March put her annual 2003 income at $5 million. While the Heinz Kerrys refuse to reveal the full extent of their wealth, the Los Angeles Times valued her net worth last month at between $900 million and $3.2 billion.
Even if Heinz kerry picked extremely conservative investments, Luskin said her reported income was suspiciously low.
"Let's put this in terms that people of less extreme wealth can relate to," he wrote. "If you had $100,000 invested last year and your investment income was only $500 -- the same percentage as Mrs. Kerry's income -- then something would be very much out of whack."
Luskin said that Heinz Kerry's financial figures, such as they're known to date, suggest that she is either "the world's worst investor" or "Mrs. Kerry may be the world's greatest cheat."
"We can't know exactly what is out of whack with Mrs. Kerry's income, if anything, because . . . [her] separate [tax] returns have never been made part of the public record," Luskin said.
Luskin and Limbacher aren't exactly part of the Clinton machine.
This would make a great sign for Kerry's next rally. Newt would be proud!
Yes, if this IS true but they will want to make sure before running with this bombshell. Kerry and his RAT buds are slime!
The alphabet soup kids will do whatever BJ and Hitlery tell them to. Remember six months ago when Dean had the nomination wrapped up before a single vote, and then the bombs got dropped on him.
Now this is a story.
john.gibson@foxnews.com
jim.angle@foxnews.com
wendell.goler@foxnews.com
brit.hume@foxnews.com
john.moody@foxnews.com
roger.ailes@foxnews.com
linda.vester@foxnews.com
rita.cosby@foxnews.com
bret.baier@foxnews.com
I know these are legit addresses (at least for the reporters at FNC), as I have received replies from some before.
It is four, obviously. It is pure Clinton dirty tricks to the end and to their selfish benefit.
So sad and so stuck.
Go Bush!
Hell, Newt should be the one holding the sign!
If Kerry IS about to be Lautenberged, he won't go down easily! Should be fun to watch.
Meaningless article as written. What is the tax loophole, and how does it apply to Heinz?
She married him for her money.
I guess it's for the little people. It would be nice if he was investigated, but look what happened when people tried to investigate all of Hillary and Bill's crooked schemes.
You might find this useful, Mia :-)
the proposal is here.....
http://www.johnkerry.com/pressroom/clips/news_2004_0326.html
It is not targeted at Heinz, but it does include a loophole that would exempt Heinz.
Here is the info....it is not specific for Heinz, but for a specific type of company that supposedly is rare in industry....http://www.techcentralstation.com/041504C.html
I am not business saavy enough to understand it very well. If this guy is right though, Kerry did exempt the type of company that Heinz is from his anti-outsourcing proposal, though not Heinz by name only or specifically.
Its either that or he can take the Fort Marcy Park option, but I honestly believe if the Clintons want him gone he goes.
http://www.nationalreview.com/nrof_luskin/luskin200407140830.asp
Newsmax stretches things a bit as usual, though this still may be fairly "interesting"....read the links toward the bottom of the NRO piece.
BUMP!
Here is a link to the National Review article:
http://www.nationalreview.com/nrof_luskin/luskin200407140830.asp
The only problem I have with this report is that it was published first by NewsMax . . . Why did this report not appear first in a major, recognized newspaper? There are many major conservative media papers on both coasts and all across the mid-west. Let hope that this story grows long legs and runs and runs.
BUMP AND:
Some More Interesting historical news about kerry:
http://www.freerepublic.com/focus/f-news/1091943/posts
http://www.freerepublic.com/focus/f-news/1160580/posts
http://www.freerepublic.com/focus/f-news/1165078/posts
Some of kerry's friends listed below:
http://www.cpusa.org/
http://www.dsausa.org/
DSA's "Progressive Caucus" Links below:
http://bernie.house.gov/pc/
http://bernie.house.gov/pc/members.asp
They are the Enemy Within!!!!
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