For those of you who are not familiar with Dana Loesch, she is the Editor of Big Journalism, Radio Host, one of the Founders of the St. Louis Tea Party and a CNN Commentator. I called Dana to help me with a "problem". Telling her that after the 2008 stimulus bill I purchased a corporate Jet to be patriotic, since there were tax breaks...Well you listen to it:
Almost as soon as I got off the phone there was a tweet in my mailbox from Meredith Dake, the famous producer Dake of the Stage Right Radio Show and a great contributor to the Breitbart sites herself.
Stage Right Radio host, Larry O' Connor, editor of Breitbart TV and another fine Breitbart writer, wanted me on the show to talk about some of the posts I had written about President Obama earlier that day, but first I had to ask him to help unload my jet. The full show is below (I appeared during the first half hour of the show). As soon as I can I will replace with a trimmed version of last night:
1 comment:
The source of the confusion is that congress passed a “bonus depreciation” law in 2008 as an economic stimulus measure, and ARRA continued it. This depreciation is a broad (albeit temporary) provision that includes to a wide range of capital goods including both commercial and corporate aircraft.
By contrast, the tax break at issue in the negotiations is a 1987 provision of the tax code that allows corporate jets to be depreciated over a five-year period rather than the seven-year period required for commercial aviation. This is not something Barack Obama created, not something Barack Obama has ever supported, and not anything that has anything to do with the stimulus bill. It is, instead, a small but real subsidy that distorts the economy at the margin by encouraging large firms to invest in corporate jets rather than paying for commercial airfare.
Source: Mathew Yglesias
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