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Taxing the rich and what can be learned from the 1991 yacht tax
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<blockquote data-quote="Babagounj" data-source="post: 853740" data-attributes="member: 12952"><p>[h=1]Sen. John Kerry skips town on sails tax[/h]</p><p><strong>Isabel</strong> - 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 - was designed by Rhode Island boat designer <strong>Ted Fontaine.</strong></p><p> But instead of berthing the vessel in Nantucket, where the senator summers with the missus, <strong>Teresa Heinz</strong>, Isabel’s hailing port is listed as “Newport” on her stern.</p><p>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.</p><p></p><p><a href="http://thehill.com/homenews/senate/169059-kerry-i-could-have-been-a-great-president" target="_blank">(The Hill)</a> — Former presidential candidate Sen. John Kerry (D-Mass.) thinks he could have done a good job leading the country.</p><p><strong>“I would have been a good president,” he said Wednesday on “Imus in the Morning.” “Maybe even a great one.”</strong></p></blockquote><p></p>
[QUOTE="Babagounj, post: 853740, member: 12952"] [h=1]Sen. John Kerry skips town on sails tax[/h] [B]Isabel[/B] - 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 - was designed by Rhode Island boat designer [B]Ted Fontaine.[/B] But instead of berthing the vessel in Nantucket, where the senator summers with the missus, [B]Teresa Heinz[/B], Isabel’s hailing port is listed as “Newport” on her stern. 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. [URL="http://thehill.com/homenews/senate/169059-kerry-i-could-have-been-a-great-president"](The Hill)[/URL] — Former presidential candidate Sen. John Kerry (D-Mass.) thinks he could have done a good job leading the country. [B]“I would have been a good president,” he said Wednesday on “Imus in the Morning.” “Maybe even a great one.”[/B] [/QUOTE]
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