Commentary - Editorials & Letters

Bill Aims to Sink Yacht Deductions

glbm — Fri, 05 Aug 2011 21:34:23 +0000

By:

Jenifer Fischer

The boating community feels picked on. Legislation proposed this spring seeks to eliminate them from the ranks of second-home owners allowed to deduct their mortgage interest payments.

On May 3, U.S. Rep. Mike Quigley of Illinois, along with Reps. Tim Walz of Minnesota and Gary Peters of Michigan introduced the Ending Taxpayer Subsidies for Yachts Act, HR 1702. If successful, the bill’s authors will see to it that boat owners who classify their boats as second homes can no longer write off their mortgage interest payments as permitted under IRS Service Code Section 163.

Currently, second-home owners may deduct mortgage interest as long as the loans they’ve taken out for qualified residences—primary and vacation homes—do not exceed $1 million. Taxpayers may deduct interest for up to two homes under this guideline.

Higher Ethanol Leaves Boaters With No Choice

glbm — Mon, 28 Feb 2011 23:17:24 +0000

Just as the public may be forced to buy health insurance, boaters may be forced to purchase fuel containing 15% ethanol and 85% gasoline (E15), found harmful to marine and car engines that are older than 2001. Fuel generated from corn that contains a level of ethanol higher than E10 is considered unsafe for marine engines. As the demand for renewable energy leads to a push for more corn in fuels that would replace the present, low-ethanol fuels, many boat engines would be handicapped and unable to use these fuels. Will the government turn its back on boating by limiting the availability of low-ethanol fuels in gas stations?

Human Drugs and Biologics Seep into Great Lakes Waterways

glbm — Mon, 28 Feb 2011 23:11:45 +0000

A petition was recently submitted to the federal Food & Drug Administration by the Great Lakes Environmental Law Center (GLELC) and the Natural Resources Defense Council (NRDC), requesting the revocation of the regulation addressing pharmaceutical residues in the environment, especially in our waterways. The petition is requesting the immediate revocation of the FDA’s broad rule providing a categorical exclusion for human drugs and a wide range of biologics, including vaccines, tissues, blood and blood components, allergenics, somatic cells, gene therapy, and recombinant therapeutic proteins created by biological processes, that are allowed to seek into the Great Lakes. The challenged provision provides categorical exclusions to the assessments for new drug applicants.

Thanks From USCG Auxiliary

glbm — Mon, 28 Feb 2011 22:54:30 +0000

We receive a far better response from your publication than any responses from our local mid-Michigan news media outlets. Thanks to Great Lakes Boating for supporting the USCG Auxiliary and our many, important missions.

Douglas Colwell
U.S. Coast Guard Auxiliar y
9th Coast Guard District
Okemos, Mich.
(517) 574-4154

P.S.: We are a volunteer organization, a component of the U.S. Coast Guard and candidly we need volunteers to assist us as we support the Coast Guard’s missions throughout the 560 states and international waters. Please contact me to learn more about the U.S. Coast Guard Auxiliary.

Support Science-based Handicapping

glbm — Mon, 28 Feb 2011 22:51:27 +0000

The Great Lakes is a special place for many sailors, both cruisers and racers. Many Great Lakes sailors want a fair and reasonable handicap that is determined by rigorous scientiﬁc research and testing, and so they support the Sailing Yacht Research Foundation (SYRF).

SYRF’s mission is to support science-based Velocity Prediction Program handicapping not only for the Great Lakes, but around the USA. The organization is designated a 501c3 which allows donors to receive a tax-deductible contribution. Gifts provide support in perpetuity for much needed handicapping research and improvement.

Donations given today will have double the impact. SYRF has received a challenge grant that will match all donations, dollar for dollar! That means that gifts will have double the impact. Donate today and help SYRF to fulﬁll its mission long into the future. Please send check to:

Asian Carp: Friend, Foe or Delicacy of the Great Lakes?

glbm — Sat, 11 Dec 2010 17:17:02 +0000

of the Great LaIn response to the cries about the Asian carp threatening to invade the Great Lakes, Congress has asked the Chicago District of the U.S. Army Corps of Engineers to prepare a feasibility study to investigate the potential environmental, economic and social effects of the measures being considered to modify the electric barriers, which are the only present-day batt lefields against the carp.

These adjustments would improve the efficacy and the evaluation of other fi sh deterrents and additional barriers in the Chicago Area Waterway System (CAWS).

The CAWS covers Lake Michigan, the Chicago River, the Chicago Sanitary and Ship Canal the Calumet rivers, the Calumet Harbor and the Calumet-Sag Channel.

If you can’t buy the boat you love, Love the boat you are with

glbm — Sat, 11 Dec 2010 17:13:02 +0000

Not so long ago, after a particular boat was seen in ads and at boat shows, it was relatively easy to make the dream come true. The economy hummed. Financial statements could not have looked any better—they were swollen with net values of owned assets. If your last year of income was not sterling, your accountant could help put your banker’s concerns to rest. Your present and future commissions, bonuses and stock market investments and assets had projected healthy yields. Adding an extra cushion of collateral to ease the banker’s concern was no problem. Ways and means of fi nancing the boat were always within reach. Those were the happy days. Financial happiness was in the air, real or based on positive mental att itude. In that strong economy we trusted.

Bait and Catch

glbm — Sat, 11 Dec 2010 17:07:35 +0000

One Asian carp was found earlier this year past the electric barriers in the Chicago area. Scientists examined the ﬁsh and found that it mostly lived in Lake Calumet, not Lake Michigan.

Elected ofﬁcials in many of the Great Lakes states would like to close the Chicago locks to prevent the Asian carp from spreading any further. How about examining the bait used in the area? If Asian carp minnows are being moved around in the Great Lakes region, they could be causing the carp to pass the barriers. This could easily be a way to help prevent Asian carp from invading the Great Lakes, without shutting down a key part of Chicago’s economy.

I hope that you will discuss this issue in the magazine.

Jim Schwaiger
Dolton, Ill.

CPD Mooring Fee Hike

glbm — Sat, 11 Dec 2010 17:04:39 +0000

With Chicago marina vacancies around half, why is the Chicago Park District levying additional fees? What’s the logic behind it? This increases to justify a cost-of-living index. It’s deﬁnitely going to make a lot of people mad.

Frank DiSilvio
Chicago, Ill.

Turbines on the Way

glbm — Sat, 11 Dec 2010 17:03:21 +0000

I’m a boater who goes out every opportunity I can. Every weekend the weather cooperates, I’m out there.

Recently, I found out that Pres. Obama was blathering on about wind turbines in the Great Lakes. What is this? On one side, he’s trying to help the environment, but on the other, is ruining our view of nature! Isn’t there a happy medium somewhere?

Dennis Kretchmar
Muskegon, Mich