Tuesday, July 27, 2010

WATCH: Kerry Gets Testy When Asked About Yacht Controversy

Senator John Kerry found himself answering questions Monday about his new $7 million yacht and the controversy about where he's docking it.

"There's nothing more to say about it," he told reporters at an event at the former South Weymouth Naval Air Station Monday.

The "Isabel" is docked in Rhode Island rather than at Kerry's summer home on Nantucket or in Boston Harbor. That means he avoids paying nearly $500,000 in taxes to Massachusetts and he doesn't have to pay a $70,000-a-year excise tax.

Rhode Island repealed those taxes in 1993. That has made the state something of a nautical tax haven.

1 comment:

  1. Leona Helmsley taught us that taxes are for little people.

    The French taught us that the guillotine is for the elite "people".

    The French got it right.