Romney Party Yacht Flies Cayman Islands Flag

[soontobeka]

Why do politicians do shit like this? The optics are horrible!

Gov. Mitt Romney's campaign toasted its top donors Wednesday aboard a 150-foot yacht flying the flag of the Cayman Islands.

The floating party, hosted by a Florida developer on his yacht "Cracker Bay," was one of a dozen exclusive events meant to nurture those who have raised more than $1 million for Romney's bid.

"I think it's ironic they do this aboard a yacht that doesn't even pay its taxes," said a woman who lives aboard a much smaller boat moored at the St. Petersburg Municipal Marina.

Romney's Cayman-based investments have come under fire during the campaign.

The event, attended by no more than 50 people, along with Romney relatives, including older brother Scott, appeared on no public calendars. ABC News obtained a schedule of the Romney campaign's "Victory Council" and waited dockside to speak with members.

"It was a really nice event. These are good supporters," said billionaire Wilbur Ross, an energy industry executive.

Spencer Zwick, one of Romney's top fundraisers, said the event was not to raise money, but simply to thank donors.

Virginia Gov. Bob McDonnell was scheduled to speak.

Registered in the Caymans, and flying a version of the Caymans' "civil ensign" or merchant flag, the Cracker Bay has an impressive art collection and can seat 30 for dinner.

The Cracker Bay is owned by Gary Morse, developer of the Villages retirement community. Companies controlled by Morse gave nearly $1 million to the pro-Romney Restore Our Future superPAC.

continued: abcnews.go.com/Blotter/romney-party-yacht-flies-cayman-islands-flag/story?id=17105028#.UD6KLqDZHpH

[ttt]

Heh.


Sorry, that's all I've got here.

[ttt]

Also, an impressive art collection on a boat??? People do this?

I clearly don't spend a lot of time with the 1%.

[basilosaurus]

Wait, why is that a problem? It's entirely normal.

I don't spend a lot of time with the 1%, but when you grow up in a city that has lots of mega-yachts, you notice these things. Most of them are registered in Georgetown, and you're supposed to fly a flag of registration.

TTT, you'd be amazed at what goes on these ships. The Ft Laud boat show was almost always on a weekend near my birthday, and I loved going to tour the yachts. Even on a relatively small 60 footer (lol, yes that's small in a world of 130ft megas) there would be exquisite design. The general public usually couldn't tour the fanciest, but my grandfather knew a yacht broker who would let us on a couple of them.

[soontobeka]

Thanks for the clarification, Sibil. I was wondering if it was something with where the ship was registered. And then of course my second thought was, could they not find one big money donor that has one registered in the US-if only for optics sake because of all of the talk about his Cayman accounts and his recent comments touting the tax havens that have helped big business stay afloat.

[pixy0stix]

Aug 29, 2012 16:36:15 GMT -5 ttt said:

Also, an impressive art collection on a boat??? People do this?

I clearly don't spend a lot of time with the 1%.

Yes, to avoid taxes on the art, I think.

[ttt]

Keeping priceless works of art aboard something that can, well, sink seems so strange to me.

But I guess that's what insurance is for.

[ttt]

Aug 29, 2012 16:45:06 GMT -5 pixy0stix said:

Aug 29, 2012 16:36:15 GMT -5 ttt said:

Also, an impressive art collection on a boat??? People do this?

I clearly don't spend a lot of time with the 1%.

Yes, to avoid taxes on the art, I think.

Ohhh that makes sense.

[basilosaurus]

I doubt there are any US registered mega yachts he could have used Just like cruise ships are all registered in Nassau or Liberia or some other tax haven.

And then there are all sorts of loopholes with duty taxes, too. If the ship is registered elsewhere, you don't have to claim anything on the boat if it's for use on the boat. Something like that.

[soontobeka]

Aug 29, 2012 16:49:20 GMT -5 basilosaurus said:

I doubt there are any US registered mega yachts he could have used Just like cruise ships are all registered in Nassau or Liberia or some other tax haven.

And then there are all sorts of loopholes with duty taxes, too. If the ship is registered elsewhere, you don't have to claim anything on the boat if it's for use on the boat. Something like that.

Clearly all things yachts, tax havens and priceless art are above my pay grade.

[basilosaurus]

I grew up in a weird environment, seeing crazy amounts of wealth, especially with yachts. Ft Laud is one of the major boating capitals, and its port is deep enough for the cruise ships and yachts.

I only know about the international boating and duty stuff b/c half of my family is from the Bahamas, and a side part of their business (a little marina) was taking people's boats back to the States to re-register when the owners couldn't/didn't want to make the crossing. Trust me, they weren't part of the 1% with that business, but it did get to mean we were often invited on board for drinks or a day of cruising Not a bad perk.

[Deleted]

I want a yacht. And a cocktail.

[ttt]

Aug 29, 2012 17:02:33 GMT -5 @angryharpy said:

I want a yacht. And a cocktail.

Just borrow the $15 mil from your parents and get one!