Kerry to pay yacht tax in effort to cast off
After a burst of unflattering media, Sen. John Kerry of Massachusetts has agreed to pay about $500,000 in taxes for a luxury yacht that he docked outside the state.
Kerry issued a statement Tuesday evening – five days after the story broke – saying he would make a lump payment to the state he represents.
“We’ve reached out to the Massachusetts Department of Revenueand made clear that, whether owed or not, we intend to pay the equivalent taxes as if the boat’s home port were currently in Massachusetts. That payment is being made promptly.”
The former Democratic presidential candidate initially avoided about $440,000 in Massachusetts sales taxes and $70,000 in annual excise taxes by stationing his new $7 million luxury yacht in neighboring Rhode Island. That state repealed taxes on the sale and use of yachts in 1993, making it a tax haven for boaters.
After the Boston Herald broke the story last Friday, Kerry was literally chased by local reporters and ridiculed by political columnists. The story was starting to make it into the national media when Kerry suddenly announced he would voluntarily pay the tax.
The New Zealand-built yacht has been seen repeatedly in Massachusetts waters, potentially giving the state a claim to levy a tax. Kerry’s spokesman said the yacht was docked in Rhode Island mainly for maintenance and chartering purposes.
Jeffry Bartash
Wednesday, July 28, 2010
is SEC Exempt it From Public Disclosure ?
SEC Says New Financial Regulation Law Exempts it From Public Disclosure
By Dunstan Prial
So much for transparency.
Under a little-noticed provision of the recently passed financial-reform legislation, the Securities and Exchange Commission no longer has to comply with virtually all requests for information releases from the public, including those filed under the Freedom of Information Act.
The law, signed last week by President Obama, exempts the SEC from disclosing records or information derived from "surveillance, risk assessments, or other regulatory and oversight activities." Given that the SEC is a regulatory body, the provision covers almost every action by the agency, lawyers say. Congress and federal agencies can request information, but the public cannot.
That argument comes despite the President saying that one of the cornerstones of the sweeping new legislation was more transparent financial markets. Indeed, in touting the new law, Obama specifically said it would “increase transparency in financial dealings."
The SEC cited the new law Tuesday in a FOIA action brought by FOX Business Network. Steven Mintz, founding partner of law firm Mintz & Gold LLC in New York, lamented what he described as “the backroom deal that was cut between Congress and the SEC to keep the SEC’s failures secret. The only losers here are the American public.”
By Dunstan Prial
So much for transparency.
Under a little-noticed provision of the recently passed financial-reform legislation, the Securities and Exchange Commission no longer has to comply with virtually all requests for information releases from the public, including those filed under the Freedom of Information Act.
The law, signed last week by President Obama, exempts the SEC from disclosing records or information derived from "surveillance, risk assessments, or other regulatory and oversight activities." Given that the SEC is a regulatory body, the provision covers almost every action by the agency, lawyers say. Congress and federal agencies can request information, but the public cannot.
That argument comes despite the President saying that one of the cornerstones of the sweeping new legislation was more transparent financial markets. Indeed, in touting the new law, Obama specifically said it would “increase transparency in financial dealings."
The SEC cited the new law Tuesday in a FOIA action brought by FOX Business Network. Steven Mintz, founding partner of law firm Mintz & Gold LLC in New York, lamented what he described as “the backroom deal that was cut between Congress and the SEC to keep the SEC’s failures secret. The only losers here are the American public.”
bordersheriffs.com web site for borders
ABOUT THE LEGACY FOUNDATION
The Legacy Foundation is 501(c)(3) organization based in Des Moines, Iowa. Its mission is to focus on state level policy matters, including constitutional and civil rights. The issues of immigration, border security, and illegal immigrants impacts all of the states across the country, and Legacy has a keen interest in making sure that the hands of state governments are not further tied by the Federal government as states step up to be the leader in this area.
see actual web site for border sheriffs
The Legacy Foundation is disappointed in the lawsuits brought by the ACLU and the US Department of Justice against Sheriffs Babeu, Dever and the state of Arizona. The Sheriffs needed financial resources to engage lawyers who believe in SB 1070 to make their best arguments for them. Legacy is happy to be able to provide this support, but needs donations from people passionate about the issue in order to do so. Your donation through Legacy's "BorderSheriffs.com" project will be used to pay for the legal defense of Sheriffs Babeu, Dever and SB 1070.
The Legacy Foundation is a non-partisan organization recognized under section 501(c)(3) of the Internal Revenue Code. This organization does not support or endorse candidates for election. Contributions or gifts to The Legacy Foundation are tax-deductible as charitable contributions for Federal income tax purposes to the fullest extent permitted by law. You did not receive and good or service in exchange for any part of this contribution.
The Legacy Foundation is 501(c)(3) organization based in Des Moines, Iowa. Its mission is to focus on state level policy matters, including constitutional and civil rights. The issues of immigration, border security, and illegal immigrants impacts all of the states across the country, and Legacy has a keen interest in making sure that the hands of state governments are not further tied by the Federal government as states step up to be the leader in this area.
see actual web site for border sheriffs
The Legacy Foundation is disappointed in the lawsuits brought by the ACLU and the US Department of Justice against Sheriffs Babeu, Dever and the state of Arizona. The Sheriffs needed financial resources to engage lawyers who believe in SB 1070 to make their best arguments for them. Legacy is happy to be able to provide this support, but needs donations from people passionate about the issue in order to do so. Your donation through Legacy's "BorderSheriffs.com" project will be used to pay for the legal defense of Sheriffs Babeu, Dever and SB 1070.
The Legacy Foundation is a non-partisan organization recognized under section 501(c)(3) of the Internal Revenue Code. This organization does not support or endorse candidates for election. Contributions or gifts to The Legacy Foundation are tax-deductible as charitable contributions for Federal income tax purposes to the fullest extent permitted by law. You did not receive and good or service in exchange for any part of this contribution.
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