Hume: Kerrys only paid 12.8% on their taxes last year

Fox News | me

[MikefromOhio]

Brit Hume

The Kerrys paid 12.8% on their taxes last year

The Bushes paid over 30%!!

[dufekin]

Perhaps Bush should say during the next debate,

"I have to pay more than 30% of my income in taxes. While I am indeed considerably wealthier than most Americans--and I can afford to pay--, you make me look like a pauper. And you only pay 12%. I don't think it's fair that billionaires like you should pay a higher tax rate than mere millionaires like me. In fact, many middle-class Americans pay a higher effective tax rate than you do, Senator Kerry. So I can see why you believe that taxes are too low on the fabulously wealthy.

But most business owners aren't quite as rich as me--and pay the whole 30% in taxes. That's 30% of their income that they can't spend on new employees, creating jobs, purchasing equipment, expanding their operations, investing in the future. So I've proposed simplifying the tax code by reducing rates and closing almost every loophole that you use to pay less in taxes than I do!

Yes, I'm going to cut taxes on 99% of Americans--the 99% who haven't the time, money, or patience to spend an entire year searching through the voluminous 700-million-page tax code for loopholes through which to shove their billion dollars!

We'll stop taxing farming income and military service (and be rid of those odious farm subsides that favor large agricultural corporations over small family farmers). We'll also cut the self-employment tax in half to encourage job creation and entrepreneurship. We are meticulously studying the tax returns of the rich and famous--their names removed to protect their identities--to identify the most commonly abused loopholes. We'll move several tax deductions to tax adjustments so that all filers can claim them--and be rid of the rest. ...

[RoseofTexas]

Don't forget to show his 4 or 5 Mansions and Yachts!

[MississippiMan]

He really is worse than Bill Clinton. The core of Bill's essence is IMO "get more chicks." Hillary, aka Spawnette O'Satan, is a different matter, of course.

MM

[e_castillo]

ping

[nutmeg]

what a scum bag!!!!

Exactly what my husband said earlier tonight! >:-(

[Shermy]

The man is the least qualified individual to ever get a party nomination for president.

IMO Kerry is the weirdest man to run for the top ticket since Nixon. He has so many personality flaws. In Nixon's defense, Nixon didn't create a fake history for himself, and revise it repeatedly.

[OneTimeLurker]

Probably in large measure to the Div. tax cut I would think.

[Shermy]

Wait until he releases his military records that show what his original discharge from the Navy was, before it was sanitized to 'Honorable' in 2001!!!!

What makes you think Kerry would do that? And the MSM is in his pocket, they won't demand the records.

[Paladin2]

Gssoline road taxes (State and FED)

[jackbill]

I don't think so. The irrevocable trust is taxed (usually) at it's own tax rate. In some cases, it's taxed at the grantor's tax rate, so I doubt that this is the reason.

I believe that you are wrong. Money put into an irrevocable trust is not taxed until the recipient takes it out. Of course, they just pass it on to the next generation - untaxed.

[mlmr]

You should send that to George Bush's speechwriters. It was terrific.

[Drammach]

Obviously, the Kerry's can afford the very best in Tax Lawyers..

[drq]

btt

[EagleUSA]

Hume had the earnings numbers, but I didnt get them written down...
it was A LOT HIGHER than what the Bushes made and reported...
======
In that case, they are moving the money to places that are tax deferred or exempt. Nice when you have ALOT of money, you can play games with some of it.

[littleleaguemom]

Teresa actually recognizes relatively little income compared to her great wealth, probably whatever she needs to maintain her many homes, cars and her jet. Most of her income is the interest on tax-free municipal bonds. The rest is dividends and capital gains (taxed at the new low Bush rate) so her average tax rate on recognized income is extremely low. She has no salary income and pays no Social Security and absolutely nothing into Medicare like the rest of us. If she wanted to "spend" more, she would have to sell assets and incur capital gains, again taxed at the low Bush rate.

[Xenalyte]

What's scary is just how many people in this country find him a perfectly acceptable choice.

[freedom4me]

Great minds think alike. I just sent an e-mail to Club for Growth with my idea for a script. I hope they do an ad.

[NickRails]

I also read that Mass has two rates for state income tax. A lower rate, and a higher rate, if you feel the govt should have more of your money. Kerry opted for the lower rate.

[Tribune7]

bump. This was in today's WSJ. Get it out as much as you can. They are scum.

[Atlas Sneezed]

WELL PUT!

I'd add:

You can afford to hire armies of tax lawyers to find the legal loopholes and offshore shelters. So could I, if I wanted to, but I choose not to because it's against my principles of fairness. Most Americans can't afford it, and they pay far higher tax rates than you do.

In addition, most Americans pay ANOTHER 15% on Medicare and SS taxes they may never receive the benefits of, while your Senate plan promises you a multi-million-dollar pension without paying into the system that needs reform to provide solvency and fairness.