Did Obama Forget Those Private Jet Tax Breaks He Just Denounced Were Created By His Own Stimulus Plan?

By Doug Powers  •  June 29, 2011 04:37 PM

**Written by Doug Powers

Before signing the stimulus bill (aka “Porkulus”) in February of 2009, White House Deputy Press Secretary Bill Burton said that, even though the president probably hadn’t read the entire 1,079 bill cover-to-cover, he knew it was okay to sign because he had “a team of the best legislative and economic experts in the country who advised him.”

Apparently Obama didn’t check with them before letting loose on private jet tax breaks at today’s press conference.

From the Heritage Foundation:

The chief economic culprit of President Obama’s Wednesday press conference was undoubtedly “corporate jets.” He mentioned them on at least six occasions, each time offering their owners as an example of a group that should be paying more in taxes.

“I think it’s only fair to ask an oil company or a corporate jet owner that has done so well,” the president stated at one point, “to give up that tax break that no other business enjoys.”

But the corporate jet tax break to which Obama was referring – called “accelerated depreciation,” and a popular Democratic foil of late – was created by his own stimulus package.

More background on that here.

“The stimulus is working as intended! Well, except for that part… and that part… and…”

**Written by Doug Powers

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  1. #101
    On June 30th, 2011 at 10:50 am, jrgdds said:

    Yep. Tax those big ol’ corporations:

    Gov. Brown signed California’s new Amazon tax. The Dems were touting the tax as raising $200 million in new revenue from internet sales.

    However, Amazon, Overstock and other online retailers promptly canceled their California based affiliates, so there will be no new sales tax receipts.

    Also, the the State Board of Equalization reported $124 million in state income taxes paid by affiliates in 2009, so California can say goodbye to those taxes too.

    Expected: $200 million gain
    Actual: $124 million loss

  2. #102
    On June 30th, 2011 at 11:00 am, hawkeye54 said:

    On June 30th, 2011 at 10:50 am, jrgdds said:
    Yep. Tax those big ol’ corporations:

    I suspect that the scheming leftists intentionally do this…knowing full well what the results will eventually be.

    Not all are idiots…many are deceitful manipulators who worship government, which they serve religiously, and from which they and their cronies fabulously profit, and desire to make it our god.

  3. #103
    On June 30th, 2011 at 11:01 am, John Deaux said:

    jrgdds,

    Are you suggesting people might modify their behavior to avoid taxes? Who could have seen that coming?

  4. #104
    On June 30th, 2011 at 11:17 am, jrgdds said:

    On June 30th, 2011 at 11:01 am, John Deaux said:

    The definition of insanity is doing the same thing over and over and expecting different results. But then again we are talking about one of the bluest of blue states, California.

    They can’t even raise a few bucks taxing the sale of goldfish in San Fransisco anymore.

    Saving for the possibility of attending a wedding or a funeral for one of my in laws, It will snow in H3ll before I step foot in that state again.

  5. #105
    On June 30th, 2011 at 11:23 am, Flyoverman said:

    Expected: $200 million gain
    Actual: $124 million loss

    Well Pilgrim,

    “Life is tough; its tougher when you’re stupid.”

    If they have half a brain they will set the record for fastest repeal of a piece of legislation in US history….. but not gonna happen.

  6. #106
    On June 30th, 2011 at 12:52 pm, T-Bone said:

    Its not a total loss of sales tax. They do expect that people will now shop more in California meaning sales tax revenues from in state retailers will increase.

    Unfortunately, in state retailers don’t have as many choices as you would get buying from around the world so the consumer loses. We will have less choice, it will cost us more to buy, it will also cost us more to shop as we will have to drive around using up expensive fuel and sending even more greenhouse gases into the air. Not to mention the wasted time doing so. Time is money.

    Not to mention, we are supposed to report purchases from out of state retailers and pay use tax when we file our income tax return. Doesn’t everyone do that or do they just figure thats a law like immigration laws that we should not follow?

    Economically, this is a lose, lose, lose deal. Way to go Moonbeam the moron!

  7. #107
    On June 30th, 2011 at 1:03 pm, T-Bone said:

    Moonbeam also ended redevelopment in California. It is unconstitutional and illegal and will cost cities and municipalities around the state millions of dollars in lost revenue which will squeeze them even tighter than they are now. The cities use this money to increase revenues to thier cities and the state takes a big cut of the increased revenues. They will all lose that now.

    Steal the money from the cities. Yeah, that a good way to raise cash. Rob Peter to pay Paul.

  8. #108
    On July 7th, 2011 at 4:47 am, Callie369 said:

    Dumbama always puts his mouth in gear before he thinks.

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