Words Mean Things - Jet Manufacturers Furious, Demand Way Down, Jobs Lost

[le roi]

your objections are duly noted.

[rbohm]

Originally Posted by dman72

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.

Originally Posted by le roi

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.

depreciation of assets is a legitimate business expense, regardless of what that asset is. be it a motor vehicle, business jet, lathe, what ever. understand that when you buy an asset it has value, but over the years that value decreases. at the end of the assets life span it is sold off to be replaced with a new item. the difference between the original purchase price, and the final selling price is the depreciated amount that again is a legitimate business expense. this is allowed so that businesses are encouraged to buy new equipment on a regular basis.

Originally Posted by JazzyTallGuy

You took my post and COMPLETELY MISCONTRUED IT. I was referring to the marketing department for the people that MANUFACTURE CORPORATE JETS. Have you ever seen the marketing literature or been to the websites for Gulfstream, Bombardier, Dassault, or Cessna? They all proclaim that business jets increase the time efficiency, improve security, and increase the flexibility for executives and business teams.

Also given the perks that many executives receive these days. It's not all that black and white in terms of the cost justification. Having a corporate jet is for many of these executives a matter of "Keeping Up With The Jones". Which is another reason once a company has financial problems the corporate jets are among the first thing to go.

Finally, if Conservatives are truly for "Less Government" then get the government out of providing market incentives for corporate jets. Corporations already get tax deductions for the fuel, and maintenance of their jets as a business expense.

as i posted above, depreciation is a legitimate business expense.

Originally Posted by le roi

well, for one, I blame the Democrats as well as the GOP. The GOP is culpable because a good chunk of that spending was to cover bad bets made during the bush administration. For example: Unfunded wars, unfunded medicare expansion, income tax cuts, capital gains tax cuts, tax breaks for oil, ownership of bad mortgage assets that suddenly shifted to the public dime, ownership of insolvent financial companies that shifted to the public dime. Bush probably never saw the crisis coming, right up until the very end he probably thought he'd struck gold with this whole magic "debt" thing. *Poof*, GDP growth. *Poof*, low unemployment. *Poof*, second term.

Bush put us in a situation where our best option was to raise taxes.... just as his party had done a bang-up job of convincing the American people that tax raises kill the economy. I doubt Obama would've gotten elected if he'd proposed to raise taxes, so he didn't. Obviously a deficit will then occur, if you try and clean up the decades of reckless debt while entering a depression.

really? and yet during the bush years the deficits went DOWN after 2003, and tax revenues went UP during the same period? the reverse only happened after the democrats too over congress in 2007.

Originally Posted by le roi

you're tiring, i'm not playing into your frame here that it matters who pays income tax or not.

i pay income tax , and that's what important, and i would rather have corporations and billionaires paying a flat 25% with no more exceptions for anybody, than I would the current system. Currently we have a nominal corporate rate of 35% but an effective rate of something like 13%, with different corporations all over the map (many of them in the negative, AKA on welfare) for different reasons... perhaps reasons like these jets depreciation schedules, i don't know.

i agree that the tax code needs a major overhaul that includes simplification, and the closing of many loopholes. that way all taxes can be lowered to where they make sense for business to want to get back in the game and invest in expansion again so we can grow the economy. but we also need to eliminate excessive regulations as well if that is going to happen.