Sen. John F. Kerry (Mass.), the front-runner for the Democratic presidential nomination, frequently calls companies and chief executives “Benedict Arnolds” if they move jobs and operations overseas to avoid paying U.S. taxes.
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 – was designed by Rhode Island boat designer Ted Fontaine.
But instead of berthing the vessel in Nantucket, where the senator summers with the missus, Teresa Heinz, Isabel’s hailing port is listed as “Newport” on her stern. . .
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.
Just to be clear, Kerry’s not doing anything wrong by mooring his yacht in Rhode Island. He’s merely doing what anyone would do to avoid high taxes. The point is that Kerry is an idiot and a hypocrite.
The secondary point is the Massachusetts “sails tax” is stupid. It’s easy for people to move their boats, so what the tax does is push business out of state.