Drudge Retort: The Other Side of the News
Saturday, December 02, 2017

It's hard to imagine a greater extravagance than a private jet -- and a more exclusive group than the people rich enough to ride one.

Yet this tiny team of uber-wealthy high fliers has carved out a massive tax break for themselves at the expense of everyone else. And it's only going to get worse if the Trump-GOP tax bill becomes law. The Senate plans to vote on the bill Friday.

Given just how obscenely lavish private jet travel is, it might come as some surprise how much the rest of us flying coach subsidize the private jet set. Private jets get over a billion dollars in tax breaks every year -- while using 10 times more air traffic control resources than they actually pay for.

Our new report for the Institute for Policy Studies looks at how the private jet lobby keeps these obscene tax handouts to the ultra-rich in place.

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According to the Center on Budget and Policy Priorities, middle-class families making between $40,000 and $50,000 a year will see a combined tax increase of about $5 billion.

Not coincidentally, households making over $1 million a year will see a tax decrease of about $6 billion.

Of the many losers in the tax bill are teachers who will no longer be able to deduct the money they spend out of pocket for their students' school supplies. And graduate students will see a massive tax increase as a result of a provision to treat their tuition waivers as ordinary income.

Put simply, this is a direct redistribution of wealth from ordinary Americans to the ultra-wealthy. The non-partisan Tax Policy Center calculated the Trump tax cuts will award 62% of the overall benefit to the top 1% of households.

This isn't just bad economics - it's morally reprehensible.

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Could be it is not necessarily about the jet buyers - remember the 'luxury tax' which put a lot of blue collar workers [who built boats] out of a job.

#1 | Posted by MSgt at 2017-12-02 11:07 AM | Reply | Funny: 1

I really think that liberals think that "the other side" should never get to have their day or chance at governing. Which is why we are seeing in the liberal main stream media such tales of woe. So much so, you don't listen to the other side or take their concerns seriously. And you wonder why you lose.

This country is permanently divided, we just don't know it yet.

#2 | Posted by boaz at 2017-12-03 04:14 PM | Reply

Corp. B must own a Private jet, cause if he's just middle-class he's defeating his own best interests.

#3 | Posted by Corky at 2017-12-03 06:01 PM | Reply

It's not just jets...a new Cessna 182 Skylane is going to cost you almost half a million dollars.

People don't buy airplanes unless they can count them as a business expense.

#4 | Posted by madbomber at 2017-12-04 01:43 PM | Reply

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