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Re: Let Them Eat Ketchup

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Stan,

Seems like a no-brainer to me. The Kerrys are proposing changes that will
hurt them. The Bushes are proposing changes that benefit them. Good test of
intent, isn't it?

James Cohen, PE
James Cohen Consulting, PC
http://expertpages.com/jccpc

----- Original Message ----- 
From: "Caldwell, Stan" <scaldwell(--nospam--at)halff.com>
Sent: Thursday, October 28, 2004 06:10 PM
Subject: Let Them Eat Ketchup


Maybe the Kerrys are right:  The rich don't pay their fair share of
taxes.
According to Investor's Business Daily, Theresa Heinz Kerry paid only
12.5
percent of her 2003 income in taxes.  Presumably due to legal loopholes
that
good tax planners use:

   O   Heinz-Kerry's reported total income was $5,072,533; about $2.8
million
       of it was invested in tax-free municipal bonds.

   O   She paid $628,401 in taxes, which amounts to 12.4 percent of her
gross
       income; the average middle class family pays more than 20 percent
in
       income tax.

   O   In contrast, President and Mrs. Bush paid $227,490 on a gross
income
       of $822,126 -- a rate of 27.7 percent.

Moreover, Heinz-Kerry released only the first two pages of the tax
return,
with no further details on her charitable contributions or the $267,541
she
itemized.

Additionally, while John Kerry has accused CEOs of being traitors to
America
by outsourcing jobs, he has little to say about the Heinz family fortune
built
in part by foreign branches of the Heinz Corporation and their
outsourcing
practices.

Meanwhile, Kerry proposes raising taxes on the rich, which he defines as

those making over $200,000 per year.

Source: Issues & Insights, "Teresa's Taxes: Let Them Eat Ketchup,"
Investor's
Business Daily, October 19, 2004.

For more on Income Taxes
http://www.ncpa.org/iss/tax/

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