Those Tycoons and Their Yachts

Peter Wilson
The Democratic Senate Campaign Committee is in its usual high dudgeon, this time about Paul Ryan's proposed budget, which "hands tax breaks to the Republicans' largest corporate backers and billionaire CEO funders." According to the DSCC:

John Boehner, Eric Cantor, and Paul Ryan would rather protect tax loopholes so their oil-tycoon financiers can buy yachts and private jets than provide health care for the elderly.

You'd think they would have thought twice about putting "tax loopholes" and "yachts" in the same sentence, given that the first image that comes to mind is a certain "tycoon" currently at Foggy Bottom. From HuffPo (7/23/10):

Massachusetts Sen. John Kerry is docking his family's new $7 million yacht in neighboring Rhode Island, allowing him to avoid paying roughly $500,000 in taxes to the cash-strapped Bay State.

It's true that William Koch (not the more politically active David or Charles Koch) owned the 12-meter (39 foot) yacht America,which won the 1992 America's Cup. (Aren't we supposed to cheer our nation's sporting victories?)

The following Obama "financiers" however appear on the Forbes list of 100 largest yachts:

Paul Allen, owner of megayacht Octopus (414 feet);

Steven Speilberg, owner of Seven Seas (282 feet, available for charter for $1.3 million a week);

David Geffen, owner of Rising Sun (454 feet).

Next topic: corporate jets.

The Democratic Senate Campaign Committee is in its usual high dudgeon, this time about Paul Ryan's proposed budget, which "hands tax breaks to the Republicans' largest corporate backers and billionaire CEO funders." According to the DSCC:

John Boehner, Eric Cantor, and Paul Ryan would rather protect tax loopholes so their oil-tycoon financiers can buy yachts and private jets than provide health care for the elderly.

You'd think they would have thought twice about putting "tax loopholes" and "yachts" in the same sentence, given that the first image that comes to mind is a certain "tycoon" currently at Foggy Bottom. From HuffPo (7/23/10):

Massachusetts Sen. John Kerry is docking his family's new $7 million yacht in neighboring Rhode Island, allowing him to avoid paying roughly $500,000 in taxes to the cash-strapped Bay State.

It's true that William Koch (not the more politically active David or Charles Koch) owned the 12-meter (39 foot) yacht America,which won the 1992 America's Cup. (Aren't we supposed to cheer our nation's sporting victories?)

The following Obama "financiers" however appear on the Forbes list of 100 largest yachts:

Paul Allen, owner of megayacht Octopus (414 feet);

Steven Speilberg, owner of Seven Seas (282 feet, available for charter for $1.3 million a week);

David Geffen, owner of Rising Sun (454 feet).

Next topic: corporate jets.