Patrick Kennedy's Idea to stimulate the Economy

[Heretic]

And this from the party that claims Bushes economic package is for his rich buddies. Lets help stinking rich people buy a yacht.

http://www.yachtgallery.com/barbara4.htm

Another bill by Rhode Island congressman, Patrick Kennedy, would provide a 20 percent federal income tax credit to the buyers of recreational boats built in America that are at least 50 ft. long. If Kennedy's bill becomes law this year, the tax credit would be granted to buyers of yachts costing as much as $10 million, provided the yacht is maintained in the US for at least five years.

The bill would indirectly stimulate economic growth by creating hundreds of jobs. The National Marine Manufacturers Association reports that every $40,000 in boat sales is equivalent to one job. To use this calculation further, a yacht such as the $35 million, 195 ft. La Baronessa, completed in November at Palmer Johnson's Wisconsin plant, created about 875 jobs.

 

[Bruzilla]

There's some half-truths there. I used to work with a big motor yacht builder in St. Augustine, FL, and there are about 800 tasks, not jobs, associated with building large yachts. These tasks would be done by about 40 people, not 800. The only way that you could get to 800 is if you count every person working for a parts fabricator, but these people are usually employed whether a yacht is made or not.

 

[Heretic]

The every $40000 in yacht sales creates one job...this would mean that the job would certianly would have to pay less than 40k since they have to pay for materials some how. Unless they consider a job a 1 week task. But heck the yacht industry wants it, people who buy yachts want it, and senators who get massive amounts of money from people who buy yachts want it.