The current demonization of jets is eerily similar to the demonization of yacht owners in the early 1990s. Back in 1990, George (read my lips, no new taxes) H. W. Bush passed a budget, which included a “luxury tax” on yachts over $100,000 in addition to jewelry, furs, etc. At the time, the Joint Committee on Taxation believed that in 1991 it would be able to rack up $31 million from these luxury taxes. What was reality? They collected just $16 million. Oops. You see, people changed their behavior in response to new tax laws. Duhhhhhh. And then what do...