It turns out that rich Christian capitalists are not the only ones going "Galt". The rich Limousine Liberals – the ones always admonishing the rest of us to pay "our fair share" of the taxes are "Galting" their "responsibility" as well – like the Democrat Senator John Kerry from the socialist workers paradise of Taxachusetts.
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John Kerry Saves $500,000 By Docking 76-Foot Luxury Yacht Out Of State
First Posted: 07/23/10 11:09 AM ET Updated: 05/25/11 06:10 PM ET
BOSTON (AP) -- Massachusetts Sen. John Kerry is docking his family's new $7 million yacht in neighboring Rhode Island, allowing him to avoid paying roughly $500,000 in taxes to the cash-strapped Bay State.
If the "Isabel" were kept at the 2004 Democratic presidential nominee's summer vacation home on Nantucket, or in Boston Harbor near his city residence, he would be liable for $437,500 in one-time sales tax. He would also have to pay $70,000 in annual excise taxes.
Rhode Island repealed those taxes in 1993. That has made the state something of a nautical tax haven.
Kerry spokesman David Wade said Friday the boat is being kept at Newport Shipyard not to evade taxes, but "for long-term maintenance, upkeep and charter purposes."
Wade noted the vessel was designed by Rhode Island boat designer Ted Fontaine and purchased in the state. It was built in New Zealand by Friendship Yachts.
A Department of Revenue spokesman said Kerry would be liable for Massachusetts taxes if he berthed the boat in the Bay State within six months of its purchase. If the "Isabel" were brought to Massachusetts after that period, the state would have to decide if it wanted to pursue the taxes.
Massachusetts, like most other states, has been grappling with plunging tax revenues. Last year's budget decifict was $600 million, and officials are bracing for a $1 billion deficit this year.
The 76-foot sloop has two cabins, a pilot house fitted with a wet bar and cold wine storage, according to the Boston Herald, which first reported its Rhode Island berthing. It derives its moniker from the middle name of Kerry's mother and the name his wife, Teresa Heinz, planned to give a daughter.
Instead, she had three sons.
Coast Guard registration records show the vessel is owned by Great Point LLC, a limited liability corporation based in Pittsburgh, Heinz's longtime home. The millionaire heiress to the Heinz ketchup fortune is a philanthropist and environmentalist.
http://www.huffingtonpost.com/2010/0..._n_656985.html
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Of course John Kerry didn't arrive at his fortune the old fashioned way – by actually working to make ketchup, he did it by marrying a heiress to those that did.
If Obama has his way, all those involved in the trickle down yachting industry – from manufacturing, selling, and maintaining yachts, will be out of a job soon. They might be able to find work at the IRS making sure that the rest of us can't go "Galt" escaping ObamaCare.
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Healthcare Reform Law Requires New IRS Army Of 1,054
By Paul Bedard
The Internal Revenue Service says it will need an battalion of 1,054 new auditors and staffers and new facilities at a cost to taxpayers of more than $359 million in fiscal 2012 just to watch over the initial implementation of President Obama's healthcare reforms. Among the new corps will be 81 workers assigned to make sure tanning salons pay a new 10 percent excise tax. Their cost: $11.5 million.
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http://www.usnews.com/news/blogs/was...s-army-of-1054
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