You’ve gotta love it.
A record 600 private jets descended on Obama’s Inauguration.
Barack Obma called people making over $250,000 a year “jet owners” today in his press conference.
The Wall Street Journal reported:
In his news conference today, the president said: “I think it’s only fair to ask an oil company or a corporate jet owner that’s doing so well to give up that tax break….I don’t think that’s real radical.”
Asking private-jet owners to give up tax breaks may not be that radical. And it probably would be supported by the vast majority of the nonjet-owning voters.
The problem is that most of the people that would be subject to the higher taxes the president wants aren’t likely to be private-jet owners. Someone earning $250,000 a year–among those scheduled for a tax increase in 2012–is unlikely to afford a jet–or even a few charter trips on a jet.
For those, like the president, who may not be well-versed in Jetonomics, here are some of the basics. The numbers come courtesy of Jay Duckson at Central Business jets:
COST OF BUYING A JET
New Citation CJ (entry level jet)–$5 million. Annual operating costs (fuel, hangar space, pilots) about $500,000.
Cheapest Used Jet–$100,000 to $500,000. Annual operating costs (hangar, pilots, mechanics, fuel) about $1 million a year.
By the way… Via Drudge, Obama’s failed stimulus package rewarded private jet owners.