What happens when President Obama threatens tax hikes on companies that buy private jets? Companies pull back from their plans to buy private jets:
Much has been made of President Barack Obama’s repeated demonizing of corporate jets and the people who fly on them in his June 29th press conference.
While pundits and politicians haggle over whether alterations in the depreciation schedule of corporate jets will actually have an impact on the deficit, those in the general aviation trenches are furious.
Aircraft Owners and Pilots Association (AOPO) President Craig Fuller told The Daily Caller that Obama’s comments have cast a pall over the industry, causing many who were considering buying a plane to back away from making a purchase.
While Obama is playing politics, real people are hurt. And, of course, no tax will be paid on those planes that aren’t sold. He’s managed to hurt tax revenues slightly through his demagoguery alone, without raising a penny of additional taxes.
But that’s okay. It’s an issue of “fairness“.