At his news conference, President Obama attacked the use of corporate jets and the fact they had tax deductions. Again, let us look at the facts:
- Corporate Jet reduction would hurt the Middle Class again. It is not the rich nor the Executives that build or service Corporate Jets. It is the Middle Class. Less jets mean fewer jobs.
- A similar attack was started by President Clinton on Yachts. The result, the rich bought less yachts and the layoffs and lack of sales ruined the boat building business across the Nation. Our own Chowan County in NC was particularly hit hard with job layoffs and business loss. After the tax was removed it took years for the businesses that survived to rebuild.
- President Obama also touted Alcoa company for their making jet wings. In this economy, just who do you think the wings are being built for? Corporate Jets!!!
- He stated the choice of Corporate jet tax breaks or kids going to college. The facts are he said it would save about $3 Billion over 10 years. Thats about $300 Million a year, He over spends that number bu over 1000% each day
We cannot afford to add additional taxes to anyone. You would think they would learn from past mistakes !! He has to go!!!
2012 is coming!!!