Deduct. And the USA is taking the world in completely the opposite direction from where it needs to go.
It would be nice if we could deduce them.
Finally! Do you have an idea how expensive those things are and how much my wage slaves must work for that?
The cost ranges from $30,000 to over $100M
The law, in its majestic equality, allows rich and poor alike to deduct private jet expenses from their taxes.
Made for the
rich whitepeopleTo be fair, you don’t have to be rich to buy a Cessna 150. $35,000 can get you a nice old one
Issue is with taking advantage of the tax benefits
You realize that a majority of Americans don’t have more than 1,000$ in their savings accounts?
Yes. My point was that’s less than the average new car, which most Americans buy. The average American could own one if they wanted
The cost of the plane is trivial compared to upkeep, hangar rental, fuel, and myriad other expenses.
Sure, you can buy a plane for cheap, if you plan to keep it at your house somehow and never intend to use it.
That’s true for many planes, but not a Cessna 150. Hangars are generally very cheap, if you can get one. Depends on the area, but couple hundred dollars per month. Fuel mileage is comparable to most SUVs and trucks. Insurance is cheaper than car insurance, although maintenance is a bit higher
I don’t own a car, but I do own a plane. It has been cheaper for me than the average American pays each year for their cars
Gross.
You allowed this before proper health care because that’s Socialism? Communism? Gay?
To be fair, America has the best aviation infrastructure in the world, and it is almost entirely socialized. So we do socialism sometimes
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.
Calling it financial obesity makes it sound like a good thing. These are superfluous parasites.
Any reality where financial obesity can me interpreted as a positive or desirable notion must conjure other fascinating paradoxes, please tell us more…
Who’s us? Obesity just conjures up images of fat people. Normal decent folks. So if you’re talking about “financial obesity”, you’re just describing normal decent people, not superfluous parasites.
Obesity is a term which explicitly defines an entity which has accumulated an excess of resources, to the point of causing damage to itself and the environment it inhabits.
If obesity conjures representations of normality for you, that’s a function of the gravitational distortion inherent from your current perspective.
Finally, I invoke this notion as literally a medically morbidly obese middle aged white guy, but I’d easily pass for a medium as a Seppo.
Calling that financial obesity is so weird.
The financially obese are weird, a perfectly cromulent framing.
Why? Is it not an apt description? Or does the wording just make you uncomfortable?
Gluttony would be a better word.
Obesity is something else. People rarely actually want to be obese, but who is actually bothered by having too much money? I guess that makes the wording sound weird to me.
Removed by mod
It leads to financial diabeetus.
Should we go back to fat cats?
Yess
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!
deduce private jet expenses
I can deduce it right from a receipt, if they give you one.
Why not make it be for bicycle repairs instead?
Only poor people ride bikes that’s why
If I get write-offs for my bike collection, I will also be stimulating the construction sector as I barely have room to store them all as it is. :-D
Kash Patel is gonna make a killing!
