[OESY]

WEALTH AND LOOPHOLES

Average federal income tax rate

Teresa Heinz Kerry, 2003 12.4%
All Taxpayers, 2001 14.2
Top 1.0%, 2001 27.5
Top 10%, 2001 21.4
Top 25%, 2001 18.1
Top 50%, 2001 15.9

Sources: Kerry campaign, Tax Foundation.

[Wolfie]

Bout time we hammered the rich to pay their fair share and get rid of these loopholes.

[tdadams]

There is nothing scheming or priviledged about investing in tax free municipal bonds. Many people of modest means have these investments also.

There is no story here unless we want to be like the Democrats and inflame people based on sensational headlines.

[RippleFire]

bump

[Henchman]

If REALLY motivated to ensure the reduction of the tax on the middle class, John & Theresa Kerry should have made a voluntary contribution to the Government. "The check is in the mail."

[gunnygail]

A nice FLAT TAX rate of 17% with NO LOOPHOLES anymore, should take care of that problem.

[standupfortruth]

Is there ANY stronger argument for a flat tax than this??????

[eeriegeno]

What I had hoped would defined with this release was details about the 6.5mil mortgage loan that was used to revive Kerry's campaign in late 2003? As I remember, the jointly owned home was valued at about 6.5mil. A lender loaned the full value (6.5mil) to Kerry even though his wife owns half and files taxes seperately? Who is paying the interest on this loan? Would part of the loan have been a campaign contribution?

[coconutt2000]

An income of $5 mil off of a total wealth of over $1 billion is paltry.

Either they need to change who is handling their investments, or they are hiding a large portion of their income. I suspect they are hiding the vast majority of their income.

[CurlyDave]

earned $5.07 million, hardly a surprising income for someone estimated to be worth nearly $1 billion.

This represents less than 0.5% of her net worth. I find that very surprising.

The rich have many, many loopholes not available to us peons.

[blanknoone]

hardly a surprising income for someone estimated to be worth nearly $1 billion.

Hey WSJ, you're supposed to be the financial types. A 0.5% return is certainly VERY surprising, especially since Ms. Heinz is credited with expanding the wealth she inherited. It would be very conservative to estimate her actual returns on that wealth to be somewhere in the $50 million to $100 million range. (5% to 10% return). $627,150 in taxes on fifty to one hundred million in income is certainly a clue to how little of her 'fair share' she pays. I know people who paid more in taxes on one five hundreth of her wealth.

[Ditto]

For most of us, $5 million sure is a lot of money. But income like that would not be even close enough to maintain 5 homes with servents, a yacht, and a Gulf Stream jet with crew.

I'd like to know if Teresa is paying for all those lifestyle comforts out of her savings, or are they being picked up by one of her many "Foundations."