By Capt. Fogg
It's no secret that Florida's economy is hurting more than that of many other states, but I'm sure it would be much worse if our sales tax cap on yachts costing more than a quarter million weren't in place. Of course mine didn't cost quite enough for me to benefit significantly, but it's gratifying that some of my friends saved enough to pay for a few thousand gallons of fuel. I'm sure it puts a smile on the faces of the many who have to choose between lunch money for the kids and driving to work. I'm sure that the several of my neighbors in foreclosure are altruistic enough to be glad those with that level of disposable income might use the savings on that Taiwan built vessel for an extra trip to the Abacos this summer.
Texas, which has a share of the yacht trade, is jealous, which is an extraordinary thing to say of our second biggest state with its continental sized self esteem. A Republican sponsored bill to cap the sales tax on yachts is now out of committee and will be considered by the Texas House along with deep cuts to education, nursing homes and other things that benefit only the surplus population.
The eyes of Texas are on taxes and the rest of us are watching.
"Rep. Mike Villarreal, D-San Antonio, voted against the measure and lambasted it as wrongheaded at a time when cuts are threatened in areas including education and Medicaid reimbursement rates for health care providers
ReplyDelete'With all due respect, sometimes I’m not sure what planet my Republican colleagues live on,' Villarreal said in a statement. 'How can they say tax breaks for yachts are a higher priority than supporting our children’s classrooms or keeping nursing homes open?' ”
I don't think the crazies in the Texas legislature are due any respect.
My son works for a company that produces and installs shipboard navigation and management systems for - yachts! He just returned from conducting an upgrade on a ship in Lebanon, previously he was in Dubai.
ReplyDeleteAlas, the recession has touched the upper income consumer product market; his staff of three are now down to one. The belt-tightening is even reaching the ultra-mega-rich, it seems.
There is no doubt that things like luxury taxes harm American industry. My area is heavily dependent on recreational boating and we're hurting here. I'm not in favor of adding to the current sales tax, but I don't think we can afford to cut them on things people don't actually need.
ReplyDeleteHey, when the Gop representatives say they are going to cut spending, they know on which side their bread is buttered on! Yes siree!!
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