Kerrey Made Millions From Political Connections, Now Wants To Raise Taxes On Middle-Class

August 2, 2012

“Bob Kerrey Is Calling For The Middle-Class To Pay Even More In Taxes While Also Leveraging His Political Connections To Make Millions By Sitting On Corporate Boards Led By The Billionaires Now Funding His Super PAC. Bob Kerrey Is Out-Of-Touch With Nebraska.”

LINCOLN, Nebraska, August 2, 2012 - Bob Kerrey made it clear this week that once he goes back to Washington, middle-class Nebraskans can expect to see a tax increase, flip-flopping on his previous promise not to raise taxes on the middle-class.

Nebraska Watchdog: “Is this a middle class tax increase?
Bob Kerrey: “Uh, well it depends where you draw the line of the middle-class. The current wage limit is $106,000. So it would not increase taxes on up to $106,000.”
Nebraska Watchdog: “So, in some respects it is?”
Kerrey: “Yeah, in some respects it is.”
(Joe Jordan, “Video Exclusive: Kerrey vs. Fischer on Social Security,” Nebraska Watchdog, 7/30/12)

Unlike Bob Kerrey, however, not many Nebraskans are able to leverage their political connections to make millions serving on corporate boards.

But that is exactly what middle-class tax hiker Bob Kerrey has done, and it has paid dividends for his pocket, and now his campaign’s super PAC.

“Kerrey’s financial report — required of all U.S. Senate candidates — shows the former U.S. senator and Nebraska governor has earned millions as a consultant and serving on corporate boards of companies that do everything from sell women’s clothing to standardized tests to lottery games.” (Deena Winter, “Top three candidates for Senate are all millionaires, but Kerrey is richest of them all,” Nebraska Watchdog, 4/26/12)

Last year, Bob Kerrey received $800,000 in “consulting fees” from a cold fusion company.

“[Kerrey received] $800,000 in consulting fees from Sidney Kimmel Revocable Trust. Kerrey called that his primary gig after he stepped down as New School president, helping a company in Israel sustain its research into low-energy nuclear reactions.” (Joe Morton, “Kerrey puts earnings at $4M,” Omaha World-Herald, 4/19/12)

Bob Kerrey—cold fusion expert? Not really.

The cold fusion project was funded by billionaire Hollywood producer Sidney Kimmel, Kerrey’s long-time friend and supporter.

Kerrey also received $965,354 last year by serving on the board for one of Kimmel’s companies, the Jones Group.

According to Kerrey’s financial report, in 2011-2012 alone he earned: $965,354 serving on the board of directors for The Jones Group, Inc., a company that owns brands such as Nine West, Anne Klein and Easy Spirit. He has served on the board since 2002. (Deena Winter, “Top three candidates for Senate are all millionaires, but Kerrey is richest of them all,” Nebraska Watchdog, 4/26/12)

Not coincidentally, Sidney Kimmel is one of the primary funders of the pro-Bob Kerrey super PAC “End The Gridlock,” donating $100,000 last quarter:

“Bob Kerrey is calling for the middle-class to pay even more in taxes while also leveraging his political connections to make millions by sitting on corporate boards led by the billionaires now funding his super PAC. Bob Kerrey is out-of-touch with Nebraska,” said Fischer campaign spokesman Daniel Keylin.