Robert ReichRemember: The real freeloaders in this country are the rich, not the poor.
The richest 1% evade $163 billion in taxes every year.
The United States literally has a yacht tax deduction.
Hello?
McSpadden
mlp@mcspadden @rbreich
For any billionaire not in the yacht-operating business, it seems to me that there's a significant difference.
For any billionaire not in the yacht-operating business, it seems to me that there's a significant difference.
@mlp @rbreich it’s the same incentives for yachts as any other business expense as far as I’m aware. Cars, trucks, office furniture, you name it - if it’s primary purpose is business, it’s tax deductible. Saying “yacht tax” is just to get attention imo
Not advocating for any of these - just saying it exists everywhere and root issue isn’t a yacht tax, nor would abolishing it do much. They’ll just move to jets, real estate, art, etc