Kerry: Not A Yacht But A Sailboat

Senator John Kerry, Massachusetts Democrat, was sure to point out to me on Thursday that the "Isabel," his 76-foot $7 million luxury yacht docked in Rhode Island, is actually not a yacht, but simply "my sailboat." 

Mr. Kerry took heat for mooring his boat outside of his home state at a Rhode Island marina, because, according to a report from the Boston Herald, it enabled him to avoid paying about $440,000 in Massachusetts sales taxes and $70,000 in annual excise taxes. Political observers in the media were quick to point to Rhode Island's 1993 repeal of taxes on the sale and use of yachts