More...
 

luxury boats tax loophole, yacht, yacht owner tax loophole, yacht owners
luxury boats tax loophole, yacht, yacht owner tax loophole, yacht owners

California GOP Torpedos Bid To End Tax Loophole For Yacht Owners

Los Angeles Times   |  Evan Halper   |   February 20, 2008 11:04 PM

Read More: Luxury Boats Tax Loophole, Yacht, Yacht Owner Tax Loophole, Yacht Owners, Breaking Business News
digg Share this on Facebook Huffpost - stumble reddit del.ico.us RSS

Yacht buyers will continue to benefit from a loophole that allows them to avoid sales tax on their boats, after Republicans in the Assembly blocked an effort to close it Tuesday.

The vote came hours after Gov. Arnold Schwarzenegger asked state agencies to consider freezing hiring for nonessential workers and to make reductions in their travel and public outreach budgets to save $100 million.


 
Comments
21
Pending Comments
0
iPhone App Promo

Want to reply to a comment? Hint: Click "Reply" at the bottom of the comment; after being approved your comment will appear directly underneath the comment you replied to

View Comments:
- Moxo I'm a Fan of Moxo permalink

Saddam had a mega-yacht... does Castro??
Or are mega-yachts for right-wing dictators only?

    Favorite    Flag as abusive Posted 03:59 PM on 02/21/2008
- abbiehoffmansghost I'm a Fan of abbiehoffmansghost permalink

I'm having a special this month--guillotines $495, with automatic reset $599. Sorry, no more than two to a customer while supplies last.

    Favorite    Flag as abusive Posted 03:56 PM on 02/21/2008
- mrcontinental I'm a Fan of mrcontinental permalink
photo

I prefer the old style, black hood and a BIG axe. Up close and personal.

    Favorite    Flag as abusive Posted 12:29 AM on 02/22/2008
- MissingAmerica I'm a Fan of MissingAmerica permalink

I find it truly amazing. People losing their homes, soldiers with inadequate medical care, private citizens with no medical care, folks around the country living in FEMA trailers months, even years, after natural disasters; yet no taxes are being paid on luxury yachts? This is insane! This system truly needs to be overhauled!

    Favorite    Flag as abusive Posted 12:24 PM on 02/21/2008
- BC33 I'm a Fan of BC33 permalink

The Fucking Scumbags!

    Favorite    Flag as abusive Posted 12:06 PM on 02/21/2008
- rodeman I'm a Fan of rodeman permalink

What time does the revolution begin....???

    Favorite    Flag as abusive Posted 11:10 AM on 02/21/2008
- mrcontinental I'm a Fan of mrcontinental permalink
photo

It looks like we may actually need one doesn't it? A bit of culling may be in order.

    Favorite    Flag as abusive Posted 12:42 PM on 02/21/2008
- HippieChick I'm a Fan of HippieChick permalink

"What time does the revolution begin....??? "

It does appear that the clock is ticking. When the alarm goes off, those free-loading yacht owners better get on their boats and sail away. Their fate just might be that of Louis XVI and Marie Antoinette.

    Favorite    Flag as abusive Posted 02:09 PM on 02/21/2008
- mrcontinental I'm a Fan of mrcontinental permalink
photo

The state is 10 billion in the hole but refuses to tax a luxury item?

Screw'em. Let them go bankrupt.

    Favorite    Flag as abusive Posted 10:43 AM on 02/21/2008
- WIpatriot I'm a Fan of WIpatriot permalink
photo

Hey, are these two drag racing??

    Favorite    Flag as abusive Posted 07:42 AM on 02/21/2008
- Gary47 I'm a Fan of Gary47 permalink

Don't ever tell me that rich people don't make their money on the backs of the rest of us.

    Favorite    Flag as abusive Posted 02:23 AM on 02/21/2008
- WIpatriot I'm a Fan of WIpatriot permalink
photo

Wouldn't even think of it, Gary.

    Favorite    Flag as abusive Posted 07:41 AM on 02/21/2008
- totalliberal I'm a Fan of totalliberal permalink
photo

Those are Australian yachts. John Bannenberg, Oceanfast's.

22 to 25 million each.

Enjoy your 800 buck tax rebates. Thank God for republicans.

(Jerks)

    Favorite    Flag as abusive Posted 02:08 AM on 02/21/2008
- totalliberal I'm a Fan of totalliberal permalink
photo

By the way, if you think that some time in the future you can own one of those suckers you need to know that they cost 15% of their cost every year to support them.

American conservative Republicans are the biggest suckers in the world.

    Favorite    Flag as abusive Posted 03:57 AM on 02/21/2008
- dryfactoidobotanoid I'm a Fan of dryfactoidobotanoid permalink

this is taken straight out of my college economics 101 textbook talking about yaights and taxes.

    Favorite    Flag as abusive Posted 12:02 AM on 02/21/2008
- ErnestineBass I'm a Fan of ErnestineBass permalink

"We don't pay taxes. Only the little people pay taxes."

-Leona Helmsley-

    Favorite    Flag as abusive Posted 11:52 PM on 02/20/2008
- ErnestineBass I'm a Fan of ErnestineBass permalink

Thanks, Leona. It was nice to hear one of you finally tell the truth, even though that's not what you set out to do...

    Favorite    Flag as abusive Posted 11:56 PM on 02/20/2008
- WIpatriot I'm a Fan of WIpatriot permalink
photo

Sometimes the truth just slips out, EB.

    Favorite    Flag as abusive Posted 07:42 AM on 02/21/2008
- mmckinl I'm a Fan of mmckinl permalink

Well the article says it all about Republicans doesn't it.

Layoffs for workers but no sales tax on yatchs. People pay sales tax for toilet paper , but not for yatchs.

This is almost as heinous as the loophole for hedge fund managers that allows them to take capital gains instead of being taxed on income.

Republicans have No Shame !

    Favorite    Flag as abusive Posted 11:41 PM on 02/20/2008
- realitytrumpsbull I'm a Fan of realitytrumpsbull permalink

Confiscate all the James Bond wannabe's satellite-guided day-trading stuff, then torpedo the yacht, too.

    Favorite    Flag as abusive Posted 11:34 PM on 02/20/2008
- PierreLeClerke I'm a Fan of PierreLeClerke permalink

Of course it does!

    Favorite    Flag as abusive Posted 11:34 PM on 02/20/2008
Comments are closed for this entry

You must be logged in to reply to this comment. Log in  or  Connect