How Come John Kerry Want To Raise Taxes But Not Pay Them?
Talk about a Swift Boat! Democratic Massachusetts Senator and former presidential candidate John Kerry has been caught in an embarrassing tax trap when it was revealed that his 76-foot luxury yacht is moored in Newport, Rhode Island in order to avoid a major, six-figure state tax bill.
According to the Boston Herald, Kerry, who has repeatedly voted in Congress to raise taxes, has moored the vessel not in Nantucket, where he and his wife summer, but instead in nearby Newport, which saves him around $70,000 in annual state excise taxes.
Thanks to a 1993 law that repealed boat sales and use taxes in R.I., Kerry not only saved the $70K a year in taxes, he may have also pocketed around $437,500 in sales tax savings on the $7 million boat.
Kerry’s spokesperson denied he was trying to avoid paying his fair share of the 6.25 percent sales tax and annual excise tax collected on yachts in his cash-strapped home state, explaining that the “Isabel” was designed by and purchased from a company in R.I. and based in the state “for long-term maintenance, upkeep and charter purposes, not tax reasons.
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Originally Posted by O.S.O.K.
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