Monday, October 11, 2004

Don't get this? You're Beyond Help.

There was a Wall Street Journal piece that showed that the effective tax rate that Teresa Heinz Kerry pays is 15%. I was wrong about that, and I want to apologize. I want to correct the mistake. Teresa Heinz Kerry's effective tax rate is not 15%; it's 12.8%. Stephen Moore today of the Club for Growth, he's the president, has a piece in the Wall Street Journal. "According to the Kerrys' own tax records, and they haven't released all of them, the couple had a combined income of $6.8 million in income last year and paid $725,000 in income taxes. That means they're effective tax rate was a whopping 12.8%. Under the current tax system, the middle class pays far more than the Kerry tax rate of 12.8%. In fact, the average federal tax rate, combined payroll and income tax for a middle-class family is closer to 20% or more. George W. and Laura Bush, who had an income one-tenth of the Kerrys, paid a tax rate of 30%," and here's Kerry talking about how Bush is the guy skimming away not paying taxes, he's part of "the rich" and we've got to get him to pay more.

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