Look at this wanna be jet owner who now bankrupt... click [here] for the article...
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 it’s only fair to ask an oil company or a corporate jet owner that’s doing so well to give up that tax break….I don’t think that’s 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 aren’t likely to be private-jet owners. Someone earning $250,000 a year–among those scheduled for a tax increase in 2012–is unlikely to afford a jet–or 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 ...
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 don’t 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).
You’re preaching to the choir, FRiend.
Been in the bulk ag business for over 20+ years, few years have been fat enough to make that kind of money. But, a small business owner does not let that kind of money just collect dust. They reinvest it for future growth.
Talk about a guy who deserves whatever happens to him.
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