From Dan Malloy:
MALLOY CAMPAIGN SAYS FOLEY SHOULD ‘COME CLEAN ABOUT YACHT TAXES’
Dan Kelly, Campaign Manager for the Dan Malloy for Governor Campaign, today released the following statement in response to news that Tom Foley’s 116-foot steel-hulled yacht is “registered out of the port of Bikini in the Republic of the Marshall Islands, which statutorily exempts nonresident yacht-owning corporations from taxes.” The article also says registering under a foreign flag allows its owner to not be “subject to minimum wage requirements and state withholding for employment taxes.” Said Kelly:
“Does Tom Foley really think Connecticut’s going to buy this? Is anyone going to believe that he registered his private yacht in a small foreign republic for any reason other than to skip out on paying his taxes?
“Here’s what Tom should do: he should come clean about the yacht by laying out exactly what he paid for it, and exactly how much he would’ve paid in taxes had he registered it in the United States – where he bought it, and where he lives.
“Connecticut continues to learn more and more about the real Tom Foley, and the real Tom is a far cry from the character he’s been playing in his ads. You know, the one who’s swapped his yacht and private jet for a pickup truck and a pair of blue jeans. I’m sure your average working-class Connecticut resident can relate to purchasing a 116 foot yacht, registering it in a small, tax-free foreign republic, and then setting up a special ‘holding company’ whose only asset is the massive yacht itself. That’s something we’ve all gone through, right?
“Hasn’t Connecticut seen enough shady financial tricks in recent years? Do we really need this kind of behavior coming from someone who wants to be Governor?”
Vince McMahon’s named his boat after his wife. “Sexy Bitch”
Reading both of the posts about candidates beating on each other, somehow Foley avoiding taxes on his 116-foot yacht seems less threatening to me financially than does the plan for Malloy to spend more money for more programs causing taxes to rise other than what they will need to anyway.
Secret deals rarely stay secret forever, and teachers will talk. I am married to a very giving public school educator who works many more hours than required, spends her own money when school and PTA budgets are inadequate or unfunded, and genuinely cares about kids learning to read (even while improving reading scores as mandated by the State).
She expects the State to fund her pension or at least provide a heads-up in time for her to take action personally to make up differences.
Let’s get public! Let’s get plain vanilla! Hey candidates, what financial plan is sustainable without further borrowing?
So, does Foley put the boat out to hire as an investment? The Marshall Islands where the craft is registered seems a bit distant for Biff and Muffie to go down to the marina for drinks at sunset. Where is it tied up during the CT season for boats?
Maybe there will be a campaign champagne event …