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Poll: Almost half in U.S. creationist
WASHINGTON, Oct. 18 (UPI) -- Teresa Heinz Kerry paid taxes in 2003 at an overall U.S. federal tax rate of 12.4 percent on an income of $5.07 million, the Wall Street Journal said Monday.
Heinz Kerry, wife of Democrat presidential nominee John F. Kerry, showed $2.78 million of her 2003 income came in the form of tax exempt interest attributed to "state, municipal and public entity bonds," reducing her taxable income by more than half, $2.29 million.
For 2003, Heinz Kerry paid paid $627,150 in federal taxes -- making her effective federal tax rate 12.4 percent.
At that rate, the Journal said, Heinz Kerry "is paying a lower average rate than nearly all middle-class taxpayers paid in 2001," the last year for which IRS data is available.
"The top 50 percent of all federal filers contributed 96.1 percent of all federal income taxes in 2001, and they paid an average income-tax rate of 15.9 percent. That's 3.5-percentatge points more than Mrs. Kerry paid in 2003," the Journal said.
Published reports indicate Heinz Kerry saved $523,042 as a result of the dividend tax cuts enacted under U.S. President George W. Bush, who paid 27.7 percent of his income in federal taxes last year.
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