Chuck Sweeney, the political editor of the Rockford Register-Star came up with something I have not seen elsewhere:
“I never cease to be amazed at how brain dead the national political debate has become.
“Consider President Barack Obama’s news conference last Wednesday, in which he railed against tax breaks for corporate jet buyers.
“These rich fat cats should pay up, he said six times.
“Problem is, it’s HIS tax break.
“Obama came up with it to save and create jobs in the domestic general aviation industry.
“The tax credit was in the 2009 stimulus bill, and it was a darned good idea.
“But it’s only worth $3 billion, or about a week and a half worth of the unwinnable (ask the Brits and the Russians) Afghanistan war.
“To borrow from a famous John Kerry line: Obama was for the corporate jet tax break before he was against it.”
He also comments in the column on the loss of Rockford political power under the Illinois Democrats’ reapportionment map.
Which tax break is Mr. Sweeney referring to?
The corporate aviation specific tax break that has been on the books since 1987?
Or the rule that George Bush signed into law in 2008, and was extended by the Federal recovery act legislation in 2009?
That created an opportunity for accelerated depreciation on corporation property. Yes, a jet can be a corporations’s property, but- so are the tools the corporation uses to produce goods.