Friday, July 23, 2010

Tax Avoidance, John Kerry Style

And "style" it is, indeed.

Sen. John Kerry, who has repeatedly voted to raise taxes while in Congress, dodged a whopping six-figure state tax bill on his new multimillion-dollar yacht by mooring her in Newport, R.I.

Isabel – Kerry’s luxe, 76-foot New Zealand-built Friendship sloop with an Edwardian-style, glossy varnished teak interior, two VIP main cabins and a pilothouse fitted with a wet bar and cold wine storage...

So what's the big deal?

Cash-strapped Massachusetts still collects a 6.25 percent sales tax and an annual excise tax on yachts. Sources say Isabel sold for something in the neighborhood of $7 million, meaning Kerry saved approximately $437,500 in sales tax and an annual excise tax of about $70,000.

That would be a neat $500+K in the first year, and $70K/year ongoing.

John F'n Kerry, indeed. Emphasis on the middle name, please.

HT: Malkin

6 comments:

Neo-Con Tastic said...

DAISNAID.

LarryD said...

Amen to that Neo-con.

Thus, when liberals berate the rich for "not paying their fair share", not only is it hypocrisy, it's projection as well.

Disgruntled Car Salesman said...

If you stare at Neo's comment enough, it reads disdain.

Anonymous said...

Give me a freaking break! That's EXACTLY what businesses do all of the time, shopping for incentives and tax breaks to benefit them. They leave "tax hells". As if YOU guys wouldn't do the same thing if in that position.

Hypocrites.

Dad29 said...

The Anonymous Joke writes!

Yah, except the Big Tax-Exempt Money is usually labeled (D).

Kennedy. Kerry/Heinz. Kohl. Rockefeller. Gates. Google-what's-their-names.

We can go on.

You can admit that it was (D) Congresses which wrote the tax laws which protect the money of the (D) families.

Go ahead. Admit it. You'll feel better.

Anonymous said...

I do admit to it, and it does make me feel better!

It's LEGAL. Now, is it "wrong"? Maybe the larger issue has been the Republican Party's protection of tax avoidance for their big business buddies.
Corporate traitors? Tax cheats?

www.forbes.com/2010/04/01/ge-exxon-walmart-business-washington-corporate-taxes.html