DUmmies Debate John Kerry Yacht Tax Avoidance
You want to know the easiest way to own a big yacht if you don't have the bucks? Simple. Just marry a rich old widow. That was exactly what John F. Kerry did. Okay, he does have to put up with an incredibly annoying wife but with his Yacht, "Isabel," he can get away from the old bag in comfort. And despite the fact that he could easily tap into the half billion dollar Heinz fortune to pay the Massachusetts sales and excise tax of about a half million dollars, Kerry avoided those taxes by registering the yacht in Newport, RI. Yeah, he is one of the biggest whiners in the Senate about the rich not paying "their fair share" of taxes but when it comes time for Momma T's Boy Toy to pay his fair share, he goes looking for loopholes to avoid payment. This has caused something of a debate in DUmmieland as you can see in this THREAD, "Mass. Sen. Kerry Docks Family's New $7M Yacht In Rhode Island, Saving $500,000 In Taxes." So let us now watch the DUmmies debate about Kerry paying his "fair share" in Bolshevik Red while the commentary of your humble correspondent, noting that kite boarding has become more popular than windsurfing, is in the [brackets]:
Mass. Sen. Kerry Docks Family's New $7M Yacht In Rhode Island, Saving $500,000 In Taxes
[And he'll be the first to squawk about the need to raise taxes.]
Massachusetts Sen. John Kerry is docking his family's new $7 million yacht in neighboring Rhode Island, allowing him to avoid paying roughly $500,000 in taxes to his cash-strapped home state.
If the Isabel were kept at the 2008 Democratic presidential nominee's summer vacation home on Nantucket or in Boston Harbor near his city residence, he would be liable for $437,500 in one-time sales tax. He would also have to pay $70,000 in annual excise taxes.
Rhode Island repealed those taxes in 1993. That has made the state something of a nautical tax haven.
Kerry spokesman David Wade said Friday the boat is being kept at Newport Shipyard not to evade taxes, but "for long-term maintenance, upkeep and charter purposes."
[And this can't be done in Taxachussets?]
Wade noted the vessel was designed by Rhode Island boat designer Ted Fontaine and purchased in the state. It was built in New Zealand by Friendship Yachts.
[Not American made?]
A Department of Revenue spokesman said Kerry would be liable for Massachusetts taxes if he berthed the boat in the Bay State within six months of its purchase. If the Isabel were brought to Massachusetts after that period, the state would have to decide if it wanted to pursue the taxes.
[So would the people who question this be called "berthers?" Now on to the DUmmie Peanut Gallery...]
Nobody wants to pay more taxes through piss-poor planning. I wouldn't even criticize a Rethug for this. It's not tax dodging like sheltering income or using shell corporations, it's just good sense.
[Yeah, just good sense to conveniently avoid all those taxes which the likes of Kerry slam for avoiding.]
Bullshit! It's being greedy. He can pay the taxes, and their are desparate people that need the...money. Why is everyone for social services until THEY have to pay them? If you are for them but go running when the bill comes, call yourself a right winger. If he has money for a $7000000 yacht, he can pay the f*cking taxes!
[Kerry is of the Leona Helmsley school of taxation.]
Personally, I don't. I take very little in the way of deductions because ............ I believe that most of those tax dollars go to good use.
[Such as Obama golf outings and buzzing Lower Manhattan in Air Force One.]
Perhaps there are other reasons besides money to choose Newport.
[Great burger joints?]
Despite Joe Biden's ridiculous "Get patriotic!" remark about paying more taxes, anyone who fails to take advantage of a loophole like this is an idiot. Good for Kerry.
[So you won't moan anymore about tax loopholes?]
There are loads of Kerry boating stories every year.
He has had boats for decades.
Really nice ones.
A few different ones over the years.
He is a well known boater
[A few different rich wives over the years makes the difference.]
Look I get trying to save 500k. I really do. He got caught and now is gonna pony up. Good for him, but it is absurd to argue he didn't know about this tax law. This is no different than Geitner's behavior, which I spoke up against at the time.
[LOUSY FREEPER TROLL!!!]
People living in WA state do this all the time. They buy car in Oregon which has no sales tax, and register in Oregon, but use it in WA state where they live. Just drive through any high density housing and you will see many cars with OR license plates.
[And I bet a lot of those cars still have Obama bumper stickers on them.]
It is owned by a Heinz company LLC. I doubt Kerry had much to do with the financial decision making.
[Heinz seems to buy most of the Boy Toy toys.]
It's a CLEAR CASE of racism...
[Anti-Irish, especially those from County Kohn.]
Actually, he can afford it because he married into money.
[A Kewpie Doll is being shipped to you via expensive yacht.]