Obama Mentions Corporate Jet Benefit Six Times, Would Cut Deficit Less Than One-Tenth Of 1 Percent…
Then again, the real aim of those references was purely to incite class warfare.
Corporate Jet Benefit Gets Six Obama Mentions, Aids Little in Deficit Cuts — Bloomberg
President Barack Obama’s proposal to end a tax break for corporate jet owners, a repeated refrain in his news conference yesterday, would achieve less than one-tenth of 1 percent of his target for reducing the federal deficit.
Changing the provision would put $3 billion into the Treasury over a decade, said two congressional aides familiar with the proposal. Democrats want to require companies that use jets for business purposes to write off the cost over seven years, instead of five years allowed under current law, said a congressional aide and a White House aide. Airplanes used for charter or commercial flights already must be depreciated over seven years.
Obama mentioned the corporate jet break six times, criticizing Republicans’ unwillingness to include tax increases in legislation to raise the federal debt ceiling. Republicans are pressing for spending cuts in the measure, which must be passed before Aug. 2, when the Treasury Department projects the U.S. will no longer be able to meet its debt obligations.
“It would be hard for the Republicans to stand there and say that the tax break for corporate jets is sufficiently important that we’re not willing to come to the table and get a deal done,” Obama said during the White House news conference.
It would take much more than eliminating a break for corporate jets to complete the deal. The $3 billion proposal would generate 0.075 percent of the $4 trillion in deficit reduction that Obama is seeking through a combination of spending cuts and tax increases.
Posted by ZIP on Thursday, June 30, 2011, at 10:13 am | 
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He signed the fully 100% DEMONRAT bill into law that created this.
I can do the math on this brilliant proposal. Lengthen the write off and lay more people at aircraft factories off. Makes perfect sense to me. (sarc)
Millionaires and billionaires!
Millionaires and billionaires!
Millionaires and billionaires!
Millionaires and billionaires!
Millionaires and billionaires!
Millionaires and billionaires!
It’s clear that Obama has zero solutions and that he’s resorted to class warfare.
Fine. GOP? Shut the debt ceiling down, shut off the borrowing spigot, shut it off, force trillions in spending cuts. The economy will recover. Obama will not.
If this gawping buffoon of sub-standard intellect won’t do his job, which is what WE THE PEOPLE tell him to do, then the GOP has to step in and do it. Blow the whole dirty welfare state up, and let’s start over.
There will be pain for a couple years, yes. We have no other choice.
The corporations pay for those jets. It’s none of his business if they own a jet or not. This two faced prick would have everyone traveling by covered wagons if it was up to him. In the mean time, his wife is flying around the world every 3 months, costing the taxpayers millions. And our media watchdogs? On their knees lubed up and ready for Dear Leader at any given moment.
@ Lightwave – Amen!
You are correct, we have no other choice. We CANNOT saddle our children with this disaster.
God bless America, our troops, Israel, and fellow humans.
The issue is the depreciation schedule…nothing else. And his stimulus passed on benefits to small jet manufacturers. What a hipocrite. Maybe BO needs reminding that corporations buy these jets which employs many people unlike”HIS” corporate jet that is paid for by the taxpayers and spares no expense. Mark Halprin was correct about the Prez!
Obama is just trying to play classwarfare with this like he does with everything. Everything he’s done has made things worse on the economy. He must be voted outin 2012 if the nation is to survive.
You have to remember that Obama is appealing to Democrat voters, so a lot of repetition should be expected in the President’s speeches.
And did he mention he got bin Laden??
so while we are working ourselves up; into a froth over what the classless dickhed said yesterday, WHAT ELSE ARE THEY UP TO ?
Stimulus Includes Tax Break to Promote Private Jet Sales
Our exhualted grand leader the annoying one being a all time blabbering lout
Little doubt in my mind the Guv could save even more if these two whores gave up their vacations!
Don’t look for it though, since welfare scum only differ in how much they steal from taxpayers.
Keep up the great plans Obama, the right is multiplying!
If they do not shut off the borrowing right now, it will never stop. What are all these free loaders going to do when their gravy train is derailed?
Phase two of their culture war on the working class, demonize them up and until the leftwing loons form lynch mobs and eventually try and do them harm. He won’t be happy until he has us all going after each other with pitch-forks and spoons. The most divisive POTUS eva.
Divide and conquer .. strategic bullshit to cause trouble.
Obama is just caught with his pants down and he’s railing .. his stupidity is showing and he’s trying to pass the buck and force concessions by getting nasty with Conservatives, in a more open manner.
It will be interesting to see his wheels come off, I can’t wait for the crash.
I do not like or trust President Obama, but yesterday I saw something that worried me for him and our nation, something that I had not seen before: I glanced at the TV while he was doing his verbal dog and pony show and I saw FEAR in his eyes. He had the look of a man “swinging after the bell” a man “punch drunk” and desperate behind his attempt at calm demeanor and mechanical platitudes. He now seems cornered. His lies are stacking up and not panning out too quickly and too publicly with much of thinking America actually paying attention; and, he knows it. I wonder what lengths he may go to next; I think he may perceive himself to be at a jumping off point of some kind. What do you think?
This is pure bullshit. The minute he introduces any legislation, all a corporate jet owner has to do is to start an air charter company, sell them their jet and pay the expenses as charter fees. If he then wants to attack that he will have the entire air transport business up in arms. There are a lot of ways to hit the rich business men but only someone who has an idea of how business operates will have a clue.
And another thing…why is the Idiot in Chief allowed to have a campaign bumper sticker the size of a Greyhound Bus on the side of the people’s jet Air Force 1? Is it now Air Force 0 (big fat zero)?