“If everybody else is willing to take on their sacred cows and do tough things to achieve the goal of real deficit reduction, then I think it would be hard for the Republicans to stand there and say the tax break for corporate jets is sufficiently important that we’re not willing to come to the table and get a deal done.’’The problem with that statement is that tax breaks for corporate jets are not a Republican sacred cow, they are a Democratic Party invention. These tax breaks were part of the Democratic Party stimulus rammed through by the progressive Congress shortly after he was inaugurated and signed into law by President Barack Obama.
As reported by the Orlando Sentinel in February 2009:
That's right. Buried in the nearly $800 billion stimulus plan signed last week by President Barack Obama is a provision allowing companies to speed the depreciation of newly purchased corporate jets. On a popular model like the $530,100 Cirrus SR22 GTS, companies can now deduct about $418,000 -- a huge improvement over former limits.
The new tax laws are a desperately needed lifeline for general-aviation manufacturers, which have shed some 11,000 jobs in the past three months. Given the jobs and taxes at stake, lawmakers are absolutely right in attempting to resuscitate the general-aviation industry. Unfortunately, it was the very same lawmakers who helped put the industry on life support in the first place.My friend Warner Todd Huston uses an AP Article to point out the President's demography on his blog.
The difference is that he believes that Barack Obama is being a demagogue, sorry buddy but I have to disagree. No one in their right mind could ever believe that the press would miss such a blatant error. And President Obama would never lie to us unless there was a mechanical problem with the TOTUS. So the only explanation is that Barack Obama is no longer in his right mind, he is either having short term memory issues or even worse.
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