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Thread: Eric Cantor and Private Jet Tax Breaks

  1. #61
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    Re: Eric Cantor and Private Jet Tax Breaks

    Quote Originally Posted by dontworrybehappy View Post
    So Obama calls people who make 250G a year or more "private jet" people. Lets analyize this.

    The cheapest "private jet" made today:



    That jet costs 2.65 million dollars and holds a grand total of 4-5 people.

    The "private jet" Obama uses:



    And he doesn't use 1, he uses 2. And uses them on the taxpayer dime.

    I think its about time for Obama to shut the **** up.
    All I have to say to the above post is, "the ignorance of some people".

    Truly, 'nuf said.

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    Re: Eric Cantor and Private Jet Tax Breaks

    Quote Originally Posted by GPS_Flex View Post
    You do realize that the Bush tax cuts became the Obama tax cuts when he signed them into law right?
    President Obama extended what was already in effect; he didn't usher in a completely new set of taxes - cuts nor increases. Try again.

    But regardless of what he did, your side pushed for them claiming that tax cuts would create jobs, that they'd stimulate job growth. Well?

    Are you now saying his decision to extend them was wrong?
    Last edited by Objective Voice; 06-30-11 at 04:11 PM.

  3. #63
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    Re: Eric Cantor and Private Jet Tax Breaks

    Quote Originally Posted by FilmFestGuy View Post
    And I'm sure you were bitching about Air Force One when Bush was in office, right?

    Do you think the President should just fly coach on Southwest Airlines?

    And the second one is a decoy for security purposes (I know because an in-law of mine is the pilot on it).
    Did you see where I put "And for the record, I've been against two jumbo jets for one man since Nixon in the 707's? So to answer your question, yes. I was bitching. It was a waste then, it's a waste now.

    Quote Originally Posted by dontworrybehappy View Post
    And just for the record, I've thought two jumbo jets for one man was excessive since Nixon on his 707's.
    Last edited by dontworrybehappy; 06-30-11 at 04:11 PM.

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    Re: Eric Cantor and Private Jet Tax Breaks

    Quote Originally Posted by Objective Voice View Post
    All I have to say to the above post is, "the ignorance of some people".

    Truly, 'nuf said.
    Hey, it's your president's words, not mine.

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    Re: Eric Cantor and Private Jet Tax Breaks

    Quote Originally Posted by OhIsee.Then View Post
    I don't know if this tax break was extended. It is very easy to add an extension to any bill. Note, again it appears that this tax break was pushed for by a Republican. If I was in Obama's position I would have accepted it to get the rest of my stimulus package passed.
    Oh, I'm not being critical of this particular tax break. I'm just confused as to when they started and when they expired, if they expired at all per the article. And if they had already expired, what exactly is the President referring to here? Basically, I'm just looking for clarification on the matter.

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    Re: Eric Cantor and Private Jet Tax Breaks

    3 weeks ago wapo's factchecker gave obama 3 pinocchios for his "misrepresentations" concerning the auto "rescue"

    President Obama's phony accounting on the auto industry bailout - The Fact Checker - The Washington Post

    note how the slasher since then has dropped the auto bailout stump pitch

    today, wapo's factchecker is back at it:

    The Pinocchio Test

    We realize the symbolic value of things like corporate jets, particularly when Republicans appear to be refusing to accept even a single dollar of additional revenue, but Obama is misleading when he suggests that closing this loophole would make much of a dent in the federal budget. He also should make clear that he would like to raise taxes on people making more than $250,000, rather than just “millionaires and billionaires.”

    The president’s claim of an “unprecedented” effort to trim federal regulations is laughable. And it would be nice to hear Obama acknowledge for once that, until a few months ago, his administration was eager to do business with Gaddafi.

    Rating: Two Pinocchios
    The missing facts in President Obama's news conference - The Fact Checker - The Washington Post

    i'm afraid your press corps is completely onto this poser on pennsylvania ave

    party on, progressives

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    Re: Eric Cantor and Private Jet Tax Breaks

    Quote Originally Posted by dontworrybehappy View Post
    Hey, it's your president's words, not mine.
    Ummm...okay, but you do realize that Air Force One, Two as well as the Presidential Marine helos are all federally mandated aircraft, right? Kinda like the Secret Service...you don't just remove their expenditures from the tax code. (Well, they're not part of the tax code, but ignorance of a matter hasn't seemed to stop some people from erroneously bumping their gums.)

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    Re: Eric Cantor and Private Jet Tax Breaks

    Quote Originally Posted by Bigfoot 88 View Post
    More pandering to the "I envy the rich" crowd.

    This will kill the private jet industry just like this pandering killed the yacht industry in the early 90's.

    And for what? To punish those evil rich people.
    Oh, stop with the over-hyped anxiety and fear-factor already. Per the article, the private jet industry was already taking a hit before Obama took office. The corporate jet tax break was initiated in an effort to spur job growth in this industry, to incentivise corporations to purchase private jets. But if you'd bothered to read the article you'd know the reason for the lag in purchases; corporations only purchase private jets when their old one is beyond repair and it's not economically feasable to keep repairing them. Has nothing to do with the elimination of the corporate jet tax whatsoever.

    Bottom line: If companies don't find it economically sound to buy another corporate jet, they're not going to buy them - period! Whether they have a tax break on the purchase or not.
    Last edited by Objective Voice; 06-30-11 at 04:24 PM.

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    Re: Eric Cantor and Private Jet Tax Breaks

    Quote Originally Posted by Objective Voice View Post
    Ummm...okay, but you do realize that Air Force One, Two as well as the Presidential Marine helos are all federally mandated aircraft, right? Kinda like the Secret Service...you don't just remove their expenditures from the tax code. (Well, they're not part of the tax code, but ignorance of a matter hasn't seemed to stop some people from erroneously bumping their gums.)
    Federal mandates don't mean that you can't make cuts when necessary.

    Medicare and caid and SS are all mandates, and those things are under the gun. If you don't think an operating cost of 20g's an hour to fly around one man and his onterage is excessive, you really ARE a liberal.

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    Re: Eric Cantor and Private Jet Tax Breaks

    Horowitz and other attorneys who advise companies on airline purchases said the proposed change would affect business decisions about when to buy aircraft. The change could cause companies to delay purchases or buy smaller planes than they would have purchased otherwise.

    The difference in depreciation schedules is a longstanding feature of the tax code.

    “I’ve been doing this for a long time and that’s been in the code as long as I can remember,” said Harry Ekblom, a partner at Sullivan & Worcester LLP in Boston.

    As part of the 1986 overhaul of the tax code, Congress incorporated the depreciation schedules into the new law and gave the Treasury Department the ability to change the “class life” of assets that would “reasonably reflect the anticipated useful life,” according to the law.

    That portion of the law was scheduled to take effect in 1992. Congress repealed it in 1988, preventing the Treasury Department and the Internal Revenue Service from changing the rules.
    Corporate Jet Tax Gets Six Obama Mentions, Nicks Deficit - Bloomberg

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