John Kerry – ~$3 Billion

John Kerry is the wealthiest senator in the White house. John Kerry and his wife, Teresa Heinz Kerry are worth an estimated $3 billion. Most of this fortune is attributed to his wife, Teresa Heinz Kerry who inherited the fortune from John Heinz of the H.J. Heinz company.

In 2003, John Kerry reported a senator salary of $147,818. He also received $175,000 from the sale of a 17th century painting by Dutch seascape painter Adam Willaerts. John Kerry owned half of the $1.3 million painting. The other half was presumed to be owned by Teresa Heinz Kerry. John Kerry also received $89,220 in royalties from his autobiography, ” A Call to Service: My Vision for a Better America”. He reported a total income of $395,338. He paid $90,000 in taxes, which is only 22% of his income. How does one make $395,000 and only pay 22% in income taxes? He should have paid $45,000 plus 35% of anything over $168,000. This would amount to $125,000. John Kerry managed to side-step $35,000 in federal income taxes.

John Kerry donated $43,000 to charities in 2003, the year prior to the presidential election. That’s a great humanitarian effort! But wait a minute…let’s look further. How much did John Kerry donate in prior years?

  • 1995 – $0.00
  • 1994 – $2,039
  • 1993 – $175
  • 1992 – $820
  • 1991 – $0.00

It appears there was an alternative motive to John Kerry’s generosity in the year prior to the presidential election. Typical politician…they all have an agenda and it’s not to serve the public! It must have felt good to talk about how much one gives back to the community while on the campaign trail!

Teresa Heinz Kerry reported earnings of $5.1 million in 2003. This seems extremely low for someone that holds $3 billion in investments. This would amount to a 0.5 % return on her investment. That’s ridiculous. No one would retain these holdings with a return that low. Even if the return was 1%, Teresa Heinz Kerry would have earned $20-$30 million in 2003. This is even too low a return. 5-6 % is much more realistic.

Some suggest Teresa Heinz Kerry’s taxable income has been reduced by charity contributions or maybe she found a way to take deductions for her personal Gulfstream jet, her $5 million ski chalet in Idaho, her $9 million oceanfront cottage, her $4 million estate in Pennsylvania or her $6.9 million Boston mansion. Maybe???

Teresa Heinz Kerry has always filed a separate income tax return. This prevents her financial position from being on public record. So what is she trying to hide?

Here is something that really amazes me. John Kerry proposed a bill to end tax breaks for US corporations that do business overseas. However, there was a loop hole that would allow H.J. Heinz Company to keep the tax break and receive a lower domestic tax rate. H.J Heinz Company is a huge and very profitable company. Do they need tax breaks? Does Teresa Heinz Kerry need to make more money?

One Response to “John Kerry – ~$3 Billion”

  1. [...] Kerry is one of the wealthiest members of Congress, through his marriage to Teresa Heinz, the widow of John Heinz of the H. J. Heinz ketchup company. In 2007, the net worth of the Kerrys was estimated to be $3 billion. [...]