It’s tax day so the Texas Lege took up a pressing tax issue to get America rolling …. er, floating, again. A tax break on yachts!
Yes, today a House committee discussed giving a tax break to wealthy yacht-buyers. Under House Bill 2187, by Rep. John Davis, a Houston Republican, the tax on sales of boats over $250,000 would be capped at $15,625. For a $20 million yacht, this would work out to a tax reduction of 99 percent. Those buying smaller, cheaper boats would continue to pay the current 6.25 percent sales tax.
Of course I am serious. I could not make this stuff up.
But, fear not, middle class, for they had you in mind, too. Democratic State Rep Mike Villarreal arrived a tad late at the hearing and asked, “So this bill is a tax break for mega-yacht owners? I feel like I just walked through the twilight zone. Is that what we’re talking about – a tax break for mega-yacht owners?”
The yacht dude answered, “This is not just for rich people. You can get used yachts as well.”
No, seriously, he was serious.
Dayum, Bubba, let’s trade in the double wide and get us a helluva deal on a used yacht! We need the tax break because right now all of our cash flow is tied up in groceries.