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Politics : Clinton's Scandals: Is this corruption the worst ever?
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To: Catfish who wrote (13624)10/28/1999 11:17:00 AM
From: Zoltan!  Read Replies (3) of 13994
 
George Will outs Patrick Kennedy, who apparently wants to deny tax cuts to most of the populace except the extreme rich - the "yachting class":

Its centerpiece is a 20 percent tax credit for purchasers of American-made luxury yachts more than 50 feet long. So the purchaser of a $1 million yacht would get a $200,000 credit against his federal income taxes.

However, this would not be an unlimited benefit for the upper crust. The credit would be capped at $2 million, so the government would help only with the first $10 million that a purchaser spends on a yacht.

You probably have not heard of Kennedy's legislation. Do you think you might have heard a media uproar about it if its author were a Republican? Just a thought.


washingtonpost.com
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