Skip to comments.Obama Calls People Earning $250,000 a Year 'Jet Owners'
Posted on 06/29/2011 1:03:55 PM PDT by Nachum
President Obama has a new term for the people he wants to tax more: jet owners.
In his news conference today, the president said: I think its only fair to ask an oil company or a corporate jet owner thats doing so well to give up that tax break .I dont think thats real radical.
(Courtesy of JetSuite Air)
Asking private-jet owners to give up tax breaks may not be that radical. And it probably would be supported by the vast majority of the nonjet-owning voters.
The problem is that most of the people that would be subject to the higher taxes the president wants arent likely to be private-jet owners. Someone earning $250,000 a yearamong those scheduled for a tax increase in 2012is unlikely to afford a jetor even a few charter trips on a jet.
For those, like the president, who may not be well-versed in Jetonomics, here are some of the basics. The numbers come courtesy of Jay Duckson at Central Business jets:
COST OF BUYING A JET
New Citation CJ (entry level jet)$5 million. Annual operating costs (fuel, hangar space, pilots) about $500,000.
Cheapest Used Jet$100,000 to $500,000. Annual operating costs (hangar, pilots, mechanics, fuel) about $1 million a year.
(Excerpt) Read more at blogs.wsj.com ...
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Pretty soon $250K is going to be known as “working poor”
Mmmmm, too close to the 4th. I’m keeping my mouth shut.
Maybe Chris Wallace will ask him about this flaky gaffe.
Well he's certainly done more than his share to reduce the number of people in that bracket.
Tyrants generate class warfare.
Well, seeing how Hussein flies around on a jet he doesn’t own or pilot, but which goes wherever he says on pain of severe punishment for the crew if they disobey, I’d call him a jet hijacker.
But B-HO probably wouldn’t take that as an insult.
Chris Rock quote: "I don't get high, but sometimes I wish I did. That way, when I messed up in life I would have an excuse. But right now there's no rehab for stupidity."
All your money are belong to us.
Meanwhile, ‘Shelley just returns from vacation, oops, I mean, serious ambassador of good-will trip to Africa on Air Force II with a couple hundred friends and attendents at the expense of the American taxpayer. Some of those taxpayers might actually own jets too.
Here's a thought ~ TAX FOUNDATIONS.
WOW. Wonder what the Hollywood liberal types who WUV Hussein think about this? People like Travolta, Ford and others who have hangars full of aircraft are zipping around, using all that fossil fuel, lecturing the common folk about ecology should be outraged. Right?
And....I wonder. Of those who do make $250,000 a year, for how many is it a once in a lifetime deal? Those that come to mind are:
...The real estate agent who sells that once in a career property.
...The neighborhood attorney who has a once in a lifetime settlement.
.. The inventor who sells his once in a lifetime patent.
.. The business manager who makes a once in a lifetime bonus for making a great deal for his company
.. Or, Someone like my husband, the chemist, who invented a product for his company.
( Just wondering)
The above people are NOT rich and never will be rich, but why should they knock themselves out working 80 hours a week just so a socialist can make them a slave to the government? Can anyone spell *J*o*h*n**G*a*l*t*?
Then there are many people who may make $250,000 a year but only for a short time in their careers:
** The surgeon or dentist who may have a high income for only 5, 10, or 15 years of their 25 to 30 year career.
** The professional athlete
** The successful entertainer
How about a really big bundle of helium balloons, like the guy who went up in a lawn chair - is that a jet in Bambi’s world??
McCaskill didn’t pay taxes on plane
Sen. Claire McCaskill (D-Mo) failed to pay $287,273 in personal property taxes on a private airplane for the past four years and will immediately repay St. Louis County for back taxes owed.
he really is stooopid
Limousine liberals? Number of government-owned limos has soared under Obama
EXTRA wide limo for her.
Well, the owner of one of these Jet manufactures I believe is none other than Warren Buffett, one of the Zero’s principal supporters. I wonder how he feels being the equilivent of his gym supporter now.
He doesn't have the sense that God gave a goose. Neither do most of the people who voted for him.
Remember, boys and girls, Palin is dumb and Bachmann is a flake because Anderson Cooper told us it was true.
Meg Whitman on Fox right now talking about business people being demonized.
And think about surgeons who go into a specialty - they don’t even START on a professional level salary ‘til their ‘30s. And probably 6-figure debt of varying degrees. By that time they are at least a decade behind in earnings compared to those who chose union or govt jobs; the only people in society being rewarded right now.
anyone starting to think these class warfare speeches are really coded signals to the apes in the inner-city to form their flash mobs and attack whitey?
Hell we’ve got enough anecdotal evidence to run it as the top story on CBS....
So how is it they could own an airplane that has a $60K per year property tax?
He's going to be critical of any woman who dares come out in public.
Best he be banned until the end of the election.
Your statement is true, but class envy will always exist, even without tyrants.
As a side note, I think Obama and the Democrats could actually make a case of increased taxes for the “rich” if they defined the rich as something like anyone who recieves $ 1,000,000 a year. In fact, if the Dems or the Repubs shifted the tax base off of anyone making less then $250,000 per year, he or they could get a huge ground swell of support.
I just watched a documentary done by the great grandson of one of the Johnson and Johnson founders, called something like “the 1 percent”. It is very eye opening and disturbing how super wealthy some people are and how many breaks they still get from the government and how they influence the government and how they get away with so much. I think that the super rich should take more steps to publicize how they contribute to the community and country, or we will see something here in the United States like the French Revolution.
Unless I’m wrong Barry is the one who initiated the jet owners tax breaks so he could have more shovel ready jobs in small jet manufacturing. I hope somebody at Fox brings that little jewel to light tonight.
He’s got more on the ball the than the “one”.
The Joint Chiefs of Staff make almost 250K with pay and benefits. Not that they do it for the money. I don’t think they have their own private jets.
The War on Achievement continues....
Obama Blasts Private Jet Tax Breaks Created by His Own Stimulus
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.
Proponents of the tax break lauded it as a means to spur economic activity by encouraging purchases of large manufactured goods (planes). So the presidents statement today and his call to repeal that tax break generally is either a tacit admission that the stimulus included projects that did not, in fact, stimulate the economy, or an attempt to soak the rich without regard for the policys effects on the economy.
Scribe - Bluey Reports; author: Lachlan Markay
14 Amendment. The debts of government officials shall not be questioned, or something.
Why is the IRS income so high then? It is because I am a part owner of a Subchapter S corporation and so business “paper profits” are reported as “income” on my personal tax return. The irony is that the business has profits, but those profits have never turned into “cash” that I can get. It always needs new investments in capital, paying off old loans, buying out other stockholders, making down payments on assets, etc.
As such I get the opportunity to pay taxes on “theoretical income” that someday, I may get as retained earnings, but doubt that I will ever see.
To be offered the opportunity to pay more taxes on theoretical income by our current president is just plain nuts.
Envy is the mother of tyranny. Just ask the Founding Fathers. That’s why they wrote the Constitution.
Back in the 70’s I heard Paul Harvey say that if all income over 50,000 were taxed at 100% it would run the gov’t just a few days. I doubt if much has changed, except the numbers.
His Wookie bride made that much sitting in a window.
This guy is off-planet.
I think of the surgeon earning $300,000 a year, then I think of how much of that goes to malpractice insurance and repaying student loans.
The Joint Chiefs of Staff make almost 250K with pay and benefits. Not that they do it for the money. I dont think they have their own private jets.
A rich person either spends his money, which helps the economy, or saves it, which helps the economy by being invested. Or he can be taxed, which hurts the economy through waste, inefficiency, corruption, and increased bureaucracy.
I watched that farce on the tv today. What an incmpetent hack he is.
Obozo’s and the dim’s plans for taxes is a farce. Those “rich” people he tries to persuade us he wants to tax are rich enough to know how to keep their money from being taxes, and Obozo knows this. The actual people who will see tax increases are just scraping by in most cases - Those making from $250k to one million are typically people who must meet overhead, payroll, and re-invest a good portion of their profits back into their business to keep moving forward. What they pay themselves is nowhere near “rich”.
Because insider trading is 100% legal for our representatives...
I mean if I knew who was going to be awarded contracts before they let, or if I knew what real-estate to buy because I was passing a law... etc etc.
Most of them are crooks, all parties. Term-Limits is the only possible option, and get rid of their lifetime pensions for a term.
Boiling mad is what this makes me.
My wife pull in a bit over 250k per year. We can’t afford to buy a damn house, we drive a old Honda, and an old Toyota, and we try to save for our futures by investing our money so we know we don’t have to depend on the government. We are clearly the enemy. When your house payment can be 3-5K/month, your property taxes 10k/year... what the heck is 250k good for?
We can’t fly first class, we look for the best priceline tickets when we get a chance to take a vacation.
The issue is simple... THE GOVERNMENT IS THE PROBLEM.
He’s going off of the rails on a crazy train. [Yes, I think he’s self-medicating.] I read on Ace of Spades that Obama is blaming all his problems to date on listening too much to his advisers. Since his ‘gutsy’ Osama call, insiders say, Obama has concluded success lies with listening to his own instincts *alone*. (Which is the exact conclusion any bat-guano crazy Malignant Narcissist would come to.)
Look for more insanity in the days and months to come. Obama unleashed—unhinged would be more apt—will make a loose canon look rational. He will self-destruct before ‘12. When an unaccomplished, untalented, inexperienced former ‘community organizer’ cuts loose, the only way to go is down (and out).