This doesn't affect me but I thought it was interesting... this is a quote from the NY Times article:
“Yes, believe it or not, Uncle Sam subsidizes the purchase of sprawling, luxurious, 72-foot Viking yachts,” Senator Charles E. Schumer, Democrat of New York, said on the Senate floor in arguing to close what he sees as tax loopholes for jet and yacht owners. “As long as your yacht has a place to sleep and a place to — how shall I put it — relieve yourself, you can classify it as your ‘second home’ and claim the mortgage interest deduction.”
Full article here:
http://www.nytimes.com/2011/07/08/us/politics/08lobby.html
Frankly, it's BS on singling out the "corporate jet" thing... They going to single out "back hoes" next?
And before you start Mr. Corn Hole... it's not "Fox News".
“Yes, believe it or not, Uncle Sam subsidizes the purchase of sprawling, luxurious, 72-foot Viking yachts,” Senator Charles E. Schumer, Democrat of New York, said on the Senate floor in arguing to close what he sees as tax loopholes for jet and yacht owners. “As long as your yacht has a place to sleep and a place to — how shall I put it — relieve yourself, you can classify it as your ‘second home’ and claim the mortgage interest deduction.”
Full article here:
http://www.nytimes.com/2011/07/08/us/politics/08lobby.html
Frankly, it's BS on singling out the "corporate jet" thing... They going to single out "back hoes" next?
And before you start Mr. Corn Hole... it's not "Fox News".