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Not Another Soak-the-Rich Yacht Tax!
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Not Another Soak-the-Rich Yacht Tax!
Some of us at the HOTLINE are old enough to remember the 10% “Yacht Tax” that was part of the infamous 1990 George H.W. Bush budget deal tax increase. Then-Senate Democrats like Ted Kennedy and Senate Majority Leader George Mitchell crowed publicly about how the rich would finally be paying their fair share. (We always loved the irony of Ted Kennedy pimping for a yacht tax!) Instead, retailers reported a 77% drop in sales that year, while boat …
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