Q: What is the "Yacht Party"?What else would you call the California Republicans who decided to support an appalling tax loophole for yacht purchasers while our state is facing a massive
$20 billion budget deficit and teachers are getting pink slips? The Republicans earned this new brand. Credit California bloggers for this good piece of snark.
Q: How does this yacht tax loophole work?
Say you live in California and you just can't live without a new yacht. So you buy one. If you want to stiff the state on your sales tax, you simply stash the boat
out of the state for 90 days. Poof, you don't have to pay your taxes like the rest
of us. Nice, eh?
Q: Why does the yacht tax loophole (sloophole) matter?
If we close this loophole, the state would bring in about $26 million. It is a relatively small sum given how massive the budget deficit is, but with our
economy in free-fall and schools and parks being closed, every dollar counts.
We shouldn't be protecting the personal profits of yacht and private jet
purchasers when California's future is in jeopardy. Not to mention that the state and its workers are losing out on any renovation work these new owners want done to their new boats, which is now done out of the state, or country.
Q: Why didn't the Republicans repeal it?
Beats the heck out of us. They had two chances to repeal it in the Assembly (on February 15th & 19th) and the members either "took a walk" or voted against repealing the loophole. The California Constitution requires a 2/3rds majority vote to our change taxes. That means we need a few Republicans to do the right thing. With California facing a catastrophic budget crisis, they failed to repeal this outrageous loophole.
Q: Why not the "Yacht & Private Jet Party"?
This loophole covers both airplane and yacht owners, but really it is much more fun to just call them the "Yacht Party," don't you think?
Q: How can I help you air this ad on TV?
Click here to contribute and help us brand the Republicans as the "Yacht Party". It sure is a lot snappier than "Grand Old Party" (GOP).
-By Bob Brigham