Kerry's Yacht and Taxes

http://www.futureofcapitalism.com/2010/07/kerrys-yacht-and-taxes

The Boston Herald has been having some fun with Senator Kerry's decision to moor his new 76-foot, $7 million yacht in Newport, Rhode Island, rather than in Massachusetts, the state Mr. Kerry represents, a decision that, the Herald reports, saves the senator "approximately $437,500 in sales tax and an annual excise tax of about $70,000."

The boat was built in New Zealand. A follow-up story in the Herald quotes "Connecticut boater Steve Potter, who docks in Charlestown," as saying, "The message is, 'The American boat builders aren't good enough, and the Massachusetts people aren't good enough to maintain it.' It's just a bad message all around."

Thanks to FutureOfCapitalism reader-participant-community member-content co-creator F. for sending the links.

by Ira Stoll  |  Jul 26, 2010 at 3:31 pm Related Topics:  Politics, Press, Taxes receive the latest by email: subscribe to the free futureofcapitalism.com mailing list