Yacht Sales Skyrocket Even As Economy Sinks

Forget all the talk about mortgage foreclosures and a looming recession. Instead, close your eyes and imaging yourself on a boat sailing the Caribbean. Not just any boat, but a megayacht that is two to three times the size of your house.

On board is every luxury you could ever imagine. You can lounge in a Jacuzzi on the top deck while you or your crew barbecue. Prefer something less casual? No problem, a deck or two down is your formal dinning room with a table that seats 12.

Your master suite is large enough to accommodate a king-size bed, walk-in closet and of course your own private bathroom with another Jacuzzi. Fine marble and woodworking adorn every corner of the yacht.

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In other good news for yachts, the Los Angeles Times reports:

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.

Closing the tax loophole -- "sloophole," as it has come to be known by Democrats -- takes a two-thirds majority vote in each house of the Legislature, which requires some Republicans to get on board.

Comments

[FreedomCorpse]

since the filthy rich don't care about sinking the little people's economic boat for more shiny trinkets..­.megayacht­s sink too and the sharks don't care either what they chew on either, that's the good news

[atlantajoe]

Who do you think gets paid to build these ships idiot. Dems cry for jobs yet bash products that create jobs.

[who38]

How many people are actually employed in the yacht building business these days? The "need for jobs" is an Ahnold ploy. The only jobs that are possibly generated is that of "yacht salesman" and the income tax is probably circumvented by an Nevada address.

[therealredstateblues]

Most of these boats are made in foreign countries like Italy and Korea - lets see some stats in how many US workers are employed in the luxury yacht industry.

[FreedomCorpse]

since the filthy rich don't care about sinking the little people's economic boat for more shiny trinkets..­.megayacht­s sink too and the sharks don't care either what they chew on either, that's the good news

[mrcontinental]

You may escape the torches and pitchforks but you still can't escape an RPG.

[totalliberal]

That yacht in the picture costs about $30,000,000.... Sales tax free. It is probably built in another country as we don't build them that size here. Most likely Holland, Italy, France or Australia, so no money trickling down too us.

Aren't tax cuts for the rich a great idea.

[VictorLudorum]

commodity ..the picture up there is not a four piece richie rich love boat ,its a royal split overhead taxi scheme....­....concep­tually five star hotels 'grand luxury' are going to convert the conservationists by enriching and technologiseing artisans to heavy manufactureing and removeing the dictatorships to same floor with business backing instead of public funding that both these genres save/destr­oy........­however question will still be to sell the world bank donors etc a part of company for command excellence /quality ..a seat on great globalists board room for account ..1 Karab ... no lackeys no pennymilling just rocket to cat bellow!
cat bellowwwww shez a minister a good conductor ...she knowwwwws youuuuuuu.....

[Knowbetter]

Spelling, grammar, and punctuation - check 'em out sometime!

[atlantajoe]

The great idea was the luxury tax implemented by the Democrat party that helped send more high paying jobs, luxury boat building, overseas. Another case where we can see long term damage to an industry.

[totalliberal]

Nope, they never did make that kind of yacht here. The quality control and workmanship of the workers has long disappeared from our shores because of our education system and scorn for the so called "blue collar" tradesmen jobs.

[VictorLudorum]

private deluxe yatchs are going to be the next best mazda_rx7 once the planet gets 200 some grand luxury hotels allover the globe ............www.geocities.com/khansher56/almujib.GIF

[WIpatriot]

Well, ferchrissakes, how on earth do you think the state of the economy has any impact of the filthy rich??