The law, in its majestic equality, allows rich and poor alike to deduct private jet expenses from their taxes.
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Financial obesity is an existential threat to any society that tolerates it, and needs to cease being celebrated, rewarded, and positioned as an aspirational goal.
Corporations are the only ‘persons’ which should be subjected to capital punishment, but billionaires should be euthanised through taxation.
I like the that term. Just like obese personality for people who need large cars or are excessively loud.
YSK that eating the rich is a nutritious way to redistribute wealth
Way too much fat
Don’t eat shit, mulch the rich.
Valuable mulch.
I don't think that word means what you think it means.
indeductable!
Great deduction!
It's bonus depreciaton, not expenses, and it's a business tax benefit, not an individual tax benefit.
Businesses can, and for a long time, have been able to deduct aircraft expenses. Nothing has changed there, and it's not unique to this turd of a president. The return of bonus depreciation lets them depreciate faster, but again, depreciation is not new. It's reasonable to removed about that, but you have to get every fact wrong to make that complaint.
And let me tell you how this works with cars. With planes it is the same, except that the savings are even better.
A real rich person owns no cars. He owns a car sales company. That company has a few select cars, which the rich person can "test drive" whenever they like. If the prime time of a car is over, the car is sold and a new one is bought. The car sales company pays for everything: purchase, insurance, taxes, fuel, cleaning, etc. Of course, this company does not make any profits. On the contrary. So the rich person pays for these losses, and those payments are tax deductable.
This also applies to houses, boats, and inevitably surrogates now that they're using them like pack mules.
Thank you, government. That is really an improvement of my life!
I am pretty sure this isn’t new. Air travel is like any other business travel expense, and plane are an expense like a plumbers van is..
My plumber's van has two hot stewardesses.
Plumbers actually need their vans to get their stuff around but for these business people there’s no real reason they can’t fly in a normal plane like everyone else. They can fly fancy, but this whole private plane nonsense is comepletely absurd.
Ah, and only 90% of gambling losses. Looks like another point against the poor.
Not that I’m condoning gambling, but, weird how those things impact polar opposite sides of the wealth gap.
In my experience, poor people gamble a lot. I've never seen a rich person buy a lottery ticket
That’s the point. Poor people gambling can’t write off their losses on taxes. Well, they can, just only up to 90%. Rather than all of it like it has been.
rich people gamble plenty, they just call it investing and get way more tax write offs for doing so
We couldve been a flight based country instead of cars if we went in another direction, when we had more pilots than planes
Was never going to happen. The most efficient plane uses way more fuel than even a "gas guzzler". The common driver is dangerous enough with a land vehicle between mistakes operating and slack maintenance, imagine if that population were all flying around.
I was more thinking taxi/uber, rather than the general population flying themselves lol, and car crashes are very common
The population was well trained after being drafted, some war ended (idr history that well) and we had a fat surplus of pilots, eventually they increased the hours needed for training, etc. to bring those numbers down, and up until recentlly, we apparently had a shortage, according to google.