After years of Democrats demanding that the wealthy pay their “fair share,” billionaire couple John and Teresa Kerry last year paid only 12% in income taxes. Apparently, Kerry, who rakes in just over $158,000 a year as a U.S. Senator, and his Heinz-heiress wife don’t consider themselves “rich.”
Americans for Tax Reform reported recently that though the Kerrys earn more than enough to be in the highest tax bracket, they found loopholes and write-offs in order to significantly decrease their taxes. In fact, they lowered their total tax rate to a level below that of most middle class Americans.
ATR also noted that “John Kerry has declined to pay a small, voluntary tax in his home state. The Massachusetts state income tax code contains a provision allowing payers to contribute an extra .6% of their income to benefit the commonwealth. Kerry has consistently failed to pay the extra money, which would have amounted to $687 dollars last year.”