Teresa Heinz's 12.3% EFFECTIVE tax rate

[opebo]

He wants to raise my family's taxes, and we pay 30%!

BOO HISS!!

I don't know what the hell boo hiss is supposed to mean, so I'll ignore it.

This moron is paying a 12% tax rate while we pay 30%.

But what's more is that he b*tches about Bush's tax cuts. This is what we call outright immorality.

I'd don't see anything moronic about paying less - sounds pretty smart to me.

But you should face the fact that Bush's tax cuts were primarily for people like Theresa Heinz-Kerry.

[○∙◄☻¥tπ[╪AV┼cVê└]

Doesn't Teresa's low tax rate just show how much more important it is to raise taxes on the wealthy?  Why should we have a tax system where billionaires pay a much lower rate than the middle class?  Why should capital gains be taxed at a much lower rate than wages?   

The highest possible tax rate on capital gains is 15%, so it is not suprising that Teresa's rate is just under that.   You don't have to use tax shelters of any sort to get this low rate, you just have to make your income off of wealth rather than labor.  If you think the income tax rate for the wealthy should be at least 20%, then you have to raise the capital gains tax rate to at least this amount.  Plus, you don't even have to pay payroll taxes on capital gains!

Or are you saying Teresa should volutarily pay a higher tax rate just to show that she is a good person?  By this standard, almost everyone in America is "not a good man".

Did you calculate your own effective tax rate? 

So you think it would be a good idea for a potential President Kerry to be paying one of the lowest effective tax rates in the country as a multi-millionare( some say a billionaire)?

Then for him, to push legislation for others to pay more while he avoids the same taxes? 
 

I don't understand...do you object to the current capital gains tax rates, or to the fact that Teresa is not voluntarily paying more in taxes than she is supposed to?

Again, she is not utilizing any tax shelters...it just that the tax rate for capital gains is extraordinarily low.  And Kerry wants to increase it...and has many times said people in his situation should be paying more in taxes.

I think you've assummed it's the capital gain rate reduction which reduced her marginal tax rate.  Wrong guess.  But let's talk about capital gains tax changes.  50% of America is an investor class.  That change just doesn't effect 1% of America.  More Kerry double talk.

Teresa low effective rate is primarily investments in tax free bonds.  Whether the shelter should exist or not is open for discussion.

My point is that a potential future President using tax shelters to pay one of the lowest rates in the country is wrong.  You can try to debate the "fine" point but on the big picture, that dog doesn't hunt.

Most of that 50% doesn't have much in investments. Kerry is only raising taxes on people making over 200k a year, anyways.

[○∙◄☻¥tπ[╪AV┼cVê└]

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It is well within the spirit of the laws to buy tax-free government bonds; that is the only way our governments can even run deficits.  If you don't think that's right, then work to change the law.  Don't criticize people for following it.

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I criticize nobody for taking advantage of tax breaks.  I specifically criticize Kerry for wanting to lead this country while paying one of the lowest effective tax rates in the country. 

He's going to raise her taxes.

[○∙◄☻¥tπ[╪AV┼cVê└]

He wants to raise my family's taxes, and we pay 30%!

Your family makes over 200k a year?

[○∙◄☻¥tπ[╪AV┼cVê└]

He wants to raise my family's taxes, and we pay 30%!

BOO HISS!!

I don't know what the hell boo hiss is supposed to mean, so I'll ignore it.

This moron is paying a 12% tax rate while we pay 30%.

But what's more is that he b*tches about Bush's tax cuts. This is what we call outright immorality.

What do you pay in taxes? A dollar?

Thanks to the Republicans, capital gains taxes are nothing. Go bitch at them.

[A18]

No one cares that they're paying a 12% tax rate. We just don't want them bitching about how other people aren't paying enough.

[○∙◄☻¥tπ[╪AV┼cVê└]

No one cares that they're paying a 12% tax rate. We just don't want them bitching about how other people aren't paying enough.

You seem to care that she's paying only 12%. Her husband will raise her taxes. Do you have a problem with that?

[A18]

I just said I don't care that she's paying 12%. I care that she's paying 12% and at the same time her husband is trying to raise taxes on people like my family.

[CollectiveInterest]

He wants to raise my family's taxes, and we pay 30%!

Philip, so is it your father or your mother that actually makes the money?

[A18]

What does that have to with anything?

[Fmr. Gov. NickG]

I just said I don't care that she's paying 12%. I care that she's paying 12% and at the same time her husband is trying to raise taxes on people like my family.

If you're family is making more than $200K per year, they should be paying more in taxes.  I think my parents should be paying more in taxes, and they agree with me (I don't think they make more than 200K either).  Expenditures like the current war should be paid for by those who can afford to do so, not left to our grandchildren who will have to pay the cost ten times over because of compounded interest on our national debt.

[CollectiveInterest]

The top income bracket pays a higher percentage than anyone else.

I'm upset about people complaining that we need to raise taxes on the upper class paying 12% in taxes when it just so happens they're billionares!

Philip, do you take sales tax and property tax into account in your analysis? Gas tax? Taxes on booze and cigarettes?

[CollectiveInterest]

It's one step out of many. I have no clue why we have all these taxes in the first place.

To pay for the gov't to do stuff...?

[○∙◄☻¥tπ[╪AV┼cVê└]

No one cares that they're paying a 12% tax rate. We just don't want them bitching about how other people aren't paying enough.

You seem to care that she's paying only 12%. Her husband will raise her taxes. Do you have a problem with that?

Teresa's taxes are low thanks to Republicans. Kerry will change that. People who make over 200k a year like Teresa and your family (since you're saying Kerry will raise their taxes) pay a lower percentage in taxes then the poor, anyways (think payroll taxes, sales taxes, gas taxes, utility taxes). The rich can afford a tax increase. They get plenty of benefits from society, including a lot of welfare for the rich and large corporations. They can pay their fair share of taxes during a war.

[Pollwatch99]

I just said I don't care that she's paying 12%. I care that she's paying 12% and at the same time her husband is trying to raise taxes on people like my family.

If you're family is making more than $200K per year, they should be paying more in taxes.  I think my parents should be paying more in taxes, and they agree with me (I don't think they make more than 200K either).  Expenditures like the current war should be paid for by those who can afford to do so, not left to our grandchildren who will have to pay the cost ten times over because of compounded interest on our national debt.

If Kerry wants Americans who earn more than 200K to pay more taxes, let him start with Teresa.  An American President paying the lowest effective tax rates would be a national disgrace.  He couldn't stand up to Dean in the debates, he cannot stand up to Teresa, and he doesn't deserve the right to be our President until he is willing to live with the spirit of the tax code.  We are not interested in excuses, he needs to be accountable for his personal actions.

[○∙◄☻¥tπ[╪AV┼cVê└]

I just said I don't care that she's paying 12%. I care that she's paying 12% and at the same time her husband is trying to raise taxes on people like my family.

If you're family is making more than $200K per year, they should be paying more in taxes.  I think my parents should be paying more in taxes, and they agree with me (I don't think they make more than 200K either).  Expenditures like the current war should be paid for by those who can afford to do so, not left to our grandchildren who will have to pay the cost ten times over because of compounded interest on our national debt.

If Kerry wants Americans who earn more than 200K to pay more taxes, let him start with Teresa.  An American President paying the lowest effective tax rates would be a national disgrace.  He couldn't stand up to Dean in the debates, he cannot stand up to Teresa, and he doesn't deserve the right to be our President until he is willing to live with the spirit of the tax code.  We are not interested in excuses, he needs to be accountable for his personal actions.

He's raising taxes on his wife, duh. What part of that don't you understand. You're applying different standards for Democrats and Republicans. Typical.

[CollectiveInterest]

No one cares that they're paying a 12% tax rate. We just don't want them bitching about how other people aren't paying enough.

Actually the original post by a Republican segued from THK and JFKerry not paying enough taxes to JFKerry not being a good person. So your side is complaining that they don't pay enough.

[Pollwatch99]

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If Kerry wants Americans who earn more than 200K to pay more taxes, let him start with Teresa.  An American President paying the lowest effective tax rates would be a national disgrace.  He couldn't stand up to Dean in the debates, he cannot stand up to Teresa, and he doesn't deserve the right to be our President until he is willing to live with the spirit of the tax code.  We are not interested in excuses, he needs to be accountable for his personal actions.

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He's raising taxes on his wife, duh. What part of that don't you understand. You're applying different standards for Democrats and Republicans. Typical.

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Need we have math lessons?  When you start with that low an effective rate ( because so much is sheltered ) then you have a miniscule change compared to everybody starting at the high rate.  Duh ?

[CollectiveInterest]

What does that have to with anything?

Philip, based on your angry and impulsive statements I doubted you have the temperment for a high-powered job.

Gov't does things that cost money. Gov't gets the money to do these things through taxes.

Philip, you seem to lack the maturity to grasp this fairly simple idea. And people who can't deal with this reality don't normally draw $200K+ paychecks.

[○∙◄☻¥tπ[╪AV┼cVê└]

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If Kerry wants Americans who earn more than 200K to pay more taxes, let him start with Teresa.  An American President paying the lowest effective tax rates would be a national disgrace.  He couldn't stand up to Dean in the debates, he cannot stand up to Teresa, and he doesn't deserve the right to be our President until he is willing to live with the spirit of the tax code.  We are not interested in excuses, he needs to be accountable for his personal actions.

You must be logged in to read this quote.

He's raising taxes on his wife, duh. What part of that don't you understand. You're applying different standards for Democrats and Republicans. Typical.

You must be logged in to read this quote.

Need we have math lessons?  When you start with that low an effective rate ( because so much is sheltered ) then you have a miniscule change compared to everybody starting at the high rate.  Duh ?

Of course the poor pay less in taxes, but they pay a higher rate of taxes.

[Fmr. Gov. NickG]

I just said I don't care that she's paying 12%. I care that she's paying 12% and at the same time her husband is trying to raise taxes on people like my family.

If you're family is making more than $200K per year, they should be paying more in taxes.  I think my parents should be paying more in taxes, and they agree with me (I don't think they make more than 200K either).  Expenditures like the current war should be paid for by those who can afford to do so, not left to our grandchildren who will have to pay the cost ten times over because of compounded interest on our national debt.

If Kerry wants Americans who earn more than 200K to pay more taxes, let him start with Teresa.  An American President paying the lowest effective tax rates would be a national disgrace.  He couldn't stand up to Dean in the debates, he cannot stand up to Teresa, and he doesn't deserve the right to be our President until he is willing to live with the spirit of the tax code.  We are not interested in excuses, he needs to be accountable for his personal actions.

Kerry is absolutely living within the spirit of the current tax code...although he wants to change that, both in spirit and in letter. 

The current spirit of the tax code, as amendment by the current administration, is that the uber-wealthy should pay a very low rate of tax on their invesment income, while the working class pays a very high rate.  You seem to think this is wrong, as evidenced by your outrage over a billionaire only paying 12.3% in taxes.  If so, George Bush is the one to blame.

[CollectiveInterest]

I just said I don't care that she's paying 12%. I care that she's paying 12% and at the same time her husband is trying to raise taxes on people like my family.

If you're family is making more than $200K per year, they should be paying more in taxes.  I think my parents should be paying more in taxes, and they agree with me (I don't think they make more than 200K either).  Expenditures like the current war should be paid for by those who can afford to do so, not left to our grandchildren who will have to pay the cost ten times over because of compounded interest on our national debt.

If Kerry wants Americans who earn more than 200K to pay more taxes, let him start with Teresa.  An American President paying the lowest effective tax rates would be a national disgrace.  He couldn't stand up to Dean in the debates, he cannot stand up to Teresa, and he doesn't deserve the right to be our President until he is willing to live with the spirit of the tax code.  We are not interested in excuses, he needs to be accountable for his personal actions.

How is Kerry not living in the spirit of the tax code?

THK paying more to the gov't won't affect anything while we've got the Bush/GOP out-of-control spending.

[A18]

What does that have to with anything?

Philip, based on your angry and impulsive statements I doubted you have the temperment for a high-powered job.

Gov't does things that cost money. Gov't gets the money to do these things through taxes.

Philip, you seem to lack the maturity to grasp this fairly simple idea. And people who can't deal with this reality don't normally draw $200K+ paychecks.

I've said before that I'm 16. So no, believe it or not, I'm not making $200,000+ at 16 years old. I'm such a failure.

[Pollwatch99]

If Teresa paid a "reasonable" effective tax rate of say 20%, we are talking about a deficit reduction of about a half a million dollars. I believe the deficit is 413MM.  Gee, find 825 more of these people and we have no deficit.  I hope the democrats are still proud of Teresa.

[CollectiveInterest]

I just read the observation on some blog that the country is divided among the people who believe Bush and those that don't.

These people that believe Bush are crazy. They are literally immune to facts and logic. They start with the premise that Bush is infallible and adjust the rest of their worldview around Bush-GOP infallibility.