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People do not make a living off of tax breaks. What you are basically saying is that Olive Garden, Saltgrass Steakhouse, and other eating places are only in business because business people eat lunches there and get tax write offs for the meal. That is sheer lunacy.
They need customers to run their business.
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My reference is more related to the restaurant business in NYC, where indeed a very large chunk of their clientele, especially at high end places, are Wall St guys who write everything off. When Ralph Nadar talked about ending this loophole, you had guys like Donald Trump saying it would "destroy the restaurant industry in NY". If the restaurant industry is NY suvives because of a bogus tax write off, is that the taxpayers fault?
If they are viewed that way it is only because the Obama media has demonized them so much. Airplanes are a legitimate business expense. Many times they allow companies to fly their people at a time or to a place where commercial air travel doesn’t go. This can result in savings that exceed to cost of operating the jet.
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You just lost the argument for yourself.
If buying a corporate jet can result in savings that exceed the cots of operating it, you'd be a friggin' idiot to not buy it out of spite because you don't get to write it off in an accelerated manner.
If I need to calm down, then some of you should maybe slow down and read your own posts.
With all that communist garbage in your post you must be posting from a place like North Korea.
There are no private jets there, right? Is your commercial aviation booming?
So no write offs for corporate jets=communism.
And Obama is the one using hyperbole? You guys are a joke.
The tax will have no effect on the deficit either way. It's simply a principled argument..the same people who don't care about cutting somebodies social security and the impacts of that drastic move will fight tooth and nail to save a write off for people who don't need it. Now maybe you guys will stop foaming at the mouth for a minute and come to grips with the Presidents point. It's not about having a huge impact on the budget or deficit, it's about WHO THE GOP WORKS FOR, and who you talk radio fan-boys work for, without pay nonentheless.
The tax will have no effect on the deficit either way. It's simply a principled argument..the same people who don't care about cutting somebodies social security and the impacts of that drastic move will fight tooth and nail to save a write off for people who don't need it. Now maybe you guys will stop foaming at the mouth for a minute and come to grips with the Presidents point. It's not about having a huge impact on the budget or deficit, it's about WHO THE GOP WORKS FOR, and who you talk radio fan-boys work for, without pay nonentheless.
if as you say the accelerated depreciation schedule for business jets will have no effect on the deficit either way, which in fact is quite correct, then why not leave the schedules, that obama himself championed in the stimulus package, as they are now?
and again, who cares what some rich private citizen decides to do with their money? they CANT write off a jet purchase, or depreciate the jet on their personal taxes. the depreciation schedules are for BUSINESSES that buy the jets for business purposes.
if as you say the accelerated depreciation schedule for business jets will have no effect on the deficit either way, which in fact is quite correct, then why not leave the schedules, that obama himself championed in the stimulus package, as they are now?
and again, who cares what some rich private citizen decides to do with their money? they CANT write off a jet purchase, or depreciate the jet on their personal taxes. the depreciation schedules are for BUSINESSES that buy the jets for business purposes.
Corporations that can afford corporate jets usually have rich guys flying in them, and the write off benefits that bottom line which disproportionately benefits those high up in the corporation and big stock holders. Silly argument you are making.
The depreciation schedule thing is one of many silly write offs that should be ended. I'm sure for every single bogus write off in the tax code, you can find someone screaming that it would cost them jobs. I brought up one, the wiriting off of business meals..I bet you that could cost many, many more jobs than corporate jet write offs, especially in places like NYC where this BS is milked for all it's worth, but that doesn't mean it should be continued.
if as you say the accelerated depreciation schedule for business jets will have no effect on the deficit either way, which in fact is quite correct, then why not leave the schedules
because it hurts the all the taxpayers who don't get that perk.
that's what happen when you drill holes in the tax code, everyone else has to pick up the slack.
Obviously subsudizing restruant meals, limo services and free parking for excessivly paid executives is far more important than an equitqable personal and business tax system. Making certain that them that already has gets more is the basis of this economy.
so what else is new?
Everyone else? Not quite. 51% pay NO federal income tax. Who 'picks up the slack' for that 51%?
Well, captain obvious, it will clearly impact the people who pay taxes more than it impacts the people who do not.
But now that you mention it, since we fund our deficits with dollar devaluation, these special tax breaks are in theory 'paid for' by anyone who uses U.S. dollars as a store of value. That could be an individual on welfare, or the Chinese government.
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