Posted by: conservativecritic | July 11, 2011

Obama still owns the tax break for corporate jets…

A few non-profit arms of the Obama administration — namely Media Matters and the Center for American Progress — have attacked the Heritage Foundation for correctly pointing out that President Obama signed this general aviation tax break into law as part of his stimulus package.  The “tax break” moniker is really a misnomer – since the tax law simply was revised to allow an accelerated depreciation for corporate jets.

The pedantic complaint is that Heritage’s original post incorrectly implied that Obama had concocted the idea himself. In fact, he merely extended the accelerated depreciation provision for corporate jets.

Typical Corporate Jet...Paid for by the Corporation...

Obama's Private Jet....on another vacation location...and Paid for at $200K per hour by us taxpayers...

But that doesn’t change the fact that President Obama railed six times yesterday against a tax break that exists in law today because of his signature.

The jet tax provision is not a serious issue ($3 billion over ten years?), and Obama’s repeated mention of it demonstrates he is not serious about deficit reduction. It just adds icing to the cake that it exists in law today only because of his signature.

And further, it is perhaps lost in this debate that Obama is attacking an industry that is one of the few remaining loci of American leadership in manufacturing. I don’t like the idea of special treatment for any particular industry, but Obama, who has no qualms about corporatism, has been talking about promoting manufacturing. Well, what does he think this corporate jet subsidy was all about? Promoting manufacturing, of course. It’s Obamanomics at work.

The caption speaks for itself...

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