Theresa's Tax Double Standard

New York Post ^ | 10/16/04 | NY Post

[THJNewYorkCity]

Theresa paid a tax rate of about 3% on the income she's reporting; story says she must have a lot more income to manage all the houses, etc.

[THJNewYorkCity]

Now that Theresa's taxes are official, just after the debates, no one can ask John Kerry this question: if you think the rich aren't paying enough, what loopholes that you and your wife have used in the last few years are you proposing should be closed? In addition, since you pay much less than the average American, despite an income few can dream of, don't you think it would be more honest for you to pay more? For instance, Senator, you have the option to pay more in state taxes in Massachusetts but you don't check the box that would make that happen. But the key question is: if you think "the rich" aren't paying enough, how much is "enough" for Theresa, and what would you do to make sure she pays that amount? Finally, would you let us know how you keep seven houses, lots of servants, and a Gulfstream V running on a measly $5 million a year?

[EagleUSA]

Note that she is JUST NOW RELEASING THIS INFORMATION --- as time gets short. Shove It Scumbag...(to use her phrases)...

[MistyCA]

What about the $250,000 refund she is expecting for overpayment of these taxes?

[THJNewYorkCity]

I forgot about the refund. I wonder what happens if you take that into account....forgot to check the analysis of her return. The key thing, of course, is what entity pays for all the lifestyle choices? As the Post reported, $5 mil is NOTHING when it comes to running that many houses etc. The big dough is still sheltered in other ways.

[handy]

News reports routinely say Tey-ray-zuh is worth 1 billion dollars. Let’s assume her money managers are total morons, and she only earns 5% on the 1 billion. That’s 50 million a year my friends. It’s probably mostly tax-free, or sheltered some other way. That’s the real story here. Super rich people don’t pay taxes since they derive their income from tax-free or tax-deferred sources. Wage earners on the other hand cannot shelter their income nearly as easily, so they get killed. Kerry wants to raise taxes, but his honey won’t pay them, that’s for sure.

[vox humana]

Wage earners on the other hand cannot shelter their income nearly as easily, so they get killed.

Also, the report I heard on ABC radio talked about the hundreds of thousands of dollars that she had to pay. The MSM never compares PERCENTAGE of income. The average BELOW middle class taxpayer pays a HIGHER percentage on total income than the Kerry family.

[cookcounty]

"Also, the report I heard on ABC radio talked about the hundreds of thousands of dollars that she had to pay. The MSM never compares PERCENTAGE of income. The average BELOW middle class taxpayer pays a HIGHER percentage on total income than the Kerry family. "

The Mark Halperin Effect. --------> Report the news.....but edit and choose stories to benefit Kerry"

[THJNewYorkCity]

What an important point. I figure it one of two ways: either an extra few percent wouldn't faze them if they WERE paying taxes at the top rate, OR they're sheltering most of what they pay. A woman went to jail because of her tax issues...but she had the bad luck to be quoted (as no doubt Tey-ray-zuh could) to the effect that the rich don't pay taxes, so Leona Helmsley, Queen of Mean, went to he slammer. I'm sure Theresa's all up and up, but this goes to the character issue: the two of them are happy to prescribe higher taxes for "the rich" or people who make $200,000 a year, but that doesn't include THEM because they're SUPERrich and they're very different from you and me. $200,000 is a ROUNDING error for what they blow in a week. And finally, the most galling thing about all this is akin to their sending THEIR kids to private schools while vetoing vouchers for poor kids who need to get the hell out of dysfunctional schools NOW. Theresa inherited her money, just like Teddy Kennedy and Senator Rockefeller--they've got theirs and it was earned when tax rates were MUCH lower if the existed at all for the Rockefellers or for bootleggers...and then of course Kerry has learned how to MARRY his money. For the basic young person trying to get ahead....these folks are standing on the roofs of their mansions and they're pulling the ladder up.

[MistyCA]

There is absolutely no doubt, imo, that there are some shelters and probably offshore accounts, etc. I DO NOT want that woman in the WH. One thing that may be possible is to run down John Heinz's returns from before he died. It will give some indication of holdings. I wonder if she obtained his holdings through a trust or through a will. It would probably be interesting to look back at some of that.

[mewzilla]

And she did NOT release ALL her tax info, either...

[MistyCA]

I think a lot of the wealth is in trusts such as the one that funds her socialist endeavors. There would be separate tax returns for those. I suspect we are only touching the tip of the iceberg with the return she released. And most Americans wouldn't know the difference.

[Sergio]

Liberals = people who are extremely generous with other peoples money.

Best Regards

Sergio

[jackbill]

When her tax return was first released, I heard a story about her "charitable remainder trusts", but I've heard nothing since then. She's most likely using this tax dodge, among others.

I'm awaiting a nice campaign ad from the Club for Growth regarding her taxes. I mentioned this to them the other day and received a reply: "Stay tuned".

[NoClones]

Kerry's position is that confiscatory taxes should only apply to Republicans,the 'religious right' and other non-rich peons who presume to disagree with liberals.

[Dante3]

Good points.

[MistyCA]

Good! Please ping me to new developments! :)

[handy]

u r correct

[Whispering Smith]

She should fire her investment advisors. Her total income should be in the neighborhood of $100 Million with a $1 Billion base. I thought there was an AMT to catch slugs like her?

[THJNewYorkCity]

I wrote them a note too....they're the ones who should take this on....and it should blow Kerry away.

[girlscout11]

they should see how much out sourcing is done with her ketsup,, they should have all their factories here in the US and put their money where their mouth is.