Wednesday, February 20, 2008

A tax loophole so big you can sail a yacht through it

You may have heard that the state legislature in CA has been grappling with a huge economic downturn. The budget's in the hole, big time, so several weeks ago the Governator declared a fiscal emergency, which required the legislature to act to address the enormous deficit. They've acted, by gum, and have slashed programs across the board.

But some programs are untouchable to the Republicans in the California State Assembly. For example, a sales tax exemption loophole for people who buy yachts, motorhomes and jets.

Yes, really.

But I'm lovin' D-Day's video for the California Yachting Association. Great post at Hullabaloo about the "sloophole" too. Well done. We truly are in the New Guilded Age.

Perfect. I lurves the internets.


Blogger 悠悠 said...

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3/02/2008 12:58:00 AM  

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