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Friday, June 27, 2008

What if Kimora made more money

Hip-hop mogul Russell Simmons’ wife, Kimora Lee Simmons, will receive $480,000 in child support each year for their two daughters. After nine years of marriage Russell Simmons and Kimora Lee divorced this year. Kimora Lee, 33, filled for divorce earlier this year, citing irreconcilable differences, and asked for primary custody of the kids, Ming Lee, now 8, and Aoki, now 5. She is also asking that Russell, 50, be granted “reasonable child visitation… accompanied at all times by the children’s nanny and security personnel.” There were rumours that the couple had split some time before, but still lived together. The monthly checks will come until 2019 for Ming Lee (born January 21, 2000) and 2022 for 5-year-old Aoki (born August 16, 2002). Both kids model for Baby Path Kids Collection. Kimora Lee, a former model, is CEO of the Baby Phat fashion house. According to the agreement filed Tuesday in Los Angeles Superior Court, rap mogul Russel Simmons will have to dish out a total of $480,000 in child support each year. Now this is possible that Kimora can easily earn a million plus a year with her TV show and being CEO of her company. Is it fair that she receives tax free income making her net income much higher. Receiving $480,000 tax free is like making close to 1 million dollars a year. So if she makes 2 million a year will their be a reduction in child support? The key is not paying but providing a lifestyle. Is it fair for women through the aid of child support to make more money than the man paying support?

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