Now fast forward to the year 2000 and catch this excerpt from a rant on May 26th on ABC's 20/20 Tax Break Keeps Rich Afloat http://abcnews.go.com/onair/2020/2020_000526_gmab_yachts_feature.html.
Patrick Kennedy of all people "proposed a tax credit for those who purchase an American luxury yacht at least 50 feet long." This is just too amazing. I don't know where to start. Talk about a target rich environment! "Cleaning up after Uncle Ted" "PK courts his Newport constituents" But I digress ... the 20/20 article it goes on to say:
“Rich people can go anywhere to buy their boats,” he says. “What my tax cut will do is hopefully encourage them to buy their boats here.”
“Here” includes boat-building communities in Kennedy’s district of Rhode Island and in North Carolina, home to companies such as Hatteras Yachts in New Bern, N.C. Hatteras executive Bryant Phillips agrees with Kennedy that there are multiple reasons to encourage the wealthy to buy American-made yachts and, in the process, help preserve the jobs of the people who build them.
“You see, every time they buy one of these,” Phillips says, “they are keeping a thousand families in New Bern clothed, fed, educating their kids. It’s a positive industry.”
So don't tell me the democRATS don't get it - they know damn well how an economic stimulus works. One boat, a thousand families gainfully employed, paying taxes, feeding the American Dream. $600 isn't going to have this impact. What if the question was do you want $600 or a job? What would the opinion polls show then?
My fervent hope is some Congressional staffer sees this and should Patrick Kennedy open his mouth when the Bush stimulus package is debated, someone rams a yacht down his throat.