Thursday, March 20, 2008

The California Yacht Party

Filed under: California | Republicans — by Will Kirkland @ 8:40 pm

Courage Campaign via Calitics Help ‘em get it on Tee Vee, here.

“Having spoken out numerous times on Governor Arnold Schwarzenegger and his Republican colleagues’ inability to deliver on their promises to solve California’s budget problems, I was further outraged by their recent opposition to closing a loophole that gives tax breaks to wealthy yacht owners. At a time when California is considering drastic cuts to education, health care, state parks and the poor, this unconscionable position only underscores the Administration’s inability to deal with our budget crisis in an honest manner and their willingness to balance the budget on the backs of our most vulnerable.

Currently, it’s possible for new yacht owners to avoid paying state sales tax by parking their new purchases out of California for 90 days. In February, the legislature considered closing the loophole that gives the wealthiest in the state a tax exemption for their extravagant toys. The proposal was simply to adjust this loophole in the tax law and increase the waiting period to a year–an action that is estimated would have netted the state $26 million. No-brainer, right? Well, not to the Republicans in the legislature. ”

Mark Leno

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