In the late 1970’s under that bloviating gasbag Carter the Congress imposed new huge taxes on the rich buying their yachts. New England at that time had some 14,000 master craftsmen fabricating the best racing yachts in the world. In no time at all these specialized shops closed out and all the 14,000 master craftsmen lost their high-paying jobs. Since then the American rich have been buying their yachts from Spain, New Zeeland, and other places with low taxes and low labor costs. Among them is the new Obama nominee for the Secretary of State John Kerry, another bloviating gasbag, a phony self-proclaimed war hero, and a functional moron of the far left. Married into the Heinz millions, he bought his yacht cheap in New Zeeland.